In new attack on mobile handsets, fraudsters target one-time-passwords

By | March 16, 2012

Source: Computerworld

by Taylor Armerding

In this article “Security for mobile handsets keeps improving. But then, mobile threatsto those handsets keep improving as well.

Among the most recent, reported by Trusteer, a Boston-based provider of secure web access services, are two online banking fraud schemes designed to defeat the one-time-password (OTP) authorization systems used by many banks.

According to Trusteer, these new threats go a step beyond earlier attacks in which criminals would change a victim’s phone number to redirect OTPs to them.

“In these new scams, the criminals are stealing the actual mobile device SIM (subscriber identity module) card,” the company said.”

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