$45k stolen in phone porting scam

Fraudsters are increasingly using social engineering techniques to steal mobile phone numbers and intercept their owners’ online banking verification codes, according to an investigation published in the inaugural Australian print edition of SC Magazine.

With the country’s police forces too stretched to investigate and telcos unwilling to accept responsibility for the problem, Australia’s banks have been forced to wear the risk and cost of the fraud as they look to new methods of protecting online accounts — via redwolf.newsvine.com