November 17, 2023 at 07:48AM
The FCC is implementing new rules to protect consumers from SIM-swapping attacks and port-out fraud. These scams involve malicious actors gaining control of a consumer’s phone number without physical access to the device. The rules require wireless providers to use secure authentication methods and notify customers of any SIM changes or port-out requests. The FCC is also looking into the impact of AI on robocalls and robotexts.
Key Takeaways:
1. The U.S. Federal Communications Commission (FCC) is implementing new rules to protect consumers from SIM-swapping attacks and port-out fraud.
2. SIM swapping involves transferring a user’s account to a scammer’s controlled SIM card, while port-out fraud is when the attacker transfers the victim’s phone number to another service provider without their knowledge.
3. The new rules require wireless providers to adopt secure authentication methods before redirecting a customer’s phone number.
4. Customers will be immediately notified of any SIM change or port-out request on their accounts to take appropriate action.
5. SIM swapping enables threat actors to infiltrate corporate networks and gain control over victims’ online accounts through SMS-based two-factor authentication codes.
6. FCC Commissioner Geoffrey Starks emphasizes the need for secure verification procedures and privacy guarantees from wireless providers to protect consumers.
7. The FCC is also launching an inquiry into the impact of artificial intelligence (AI) on robocalls and robotexts, with the potential for both positive improvements and increased fraudulent activity.
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