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Defending phone and internet accounts from fraudsters

Defending phone and internet accounts from fraudsters

The Telecommunications Industry Ombudsman (TIO) today released a report on systemic investigations into fraud enabled through phone and internet accounts.

The report “Defending phone and internet accounts from fraudsters” shares the TIO’s findings on fraudsters being able to access telco accounts and conduct malicious activity. It explores consumers’ experiences and highlights improvements made by telco providers to combat fraudulent account access.

Based on investigations and complaints, the TIO identified four common themes which contribute to fraudsters accessing telco accounts:

  • Weak security processes can help fraudsters gain access to telco accounts,
  • Fraudsters can exploit delayed responses by providers to breaches of account security,
  • Consumers can fall victim to a fraud if they don’t know what to look out for, and
  • Fraudsters’ tactics and methods are constantly evolving.