Displaying items by tag: SIM swaps

Telecommunications industry regulator the Australian Communications and Media Authority (ACMA) will focus on combating SMS and identity theft phone scams as part of its compliance priorities for 2022–23.

New industry rules for telcos will help protect consumers from the devastating impact of scams that target customer interactions with providers, which cost individual victims in Australia an average of around $28,000.

Using SMS as a means for two-factor authentication can be the weak link that leads to account compromise, according to Arvind Narayanan, an associate professor of Computer Science at Princeton University, who outlined an easy way that he and three of his colleagues had tested out to compromise accounts.