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SIM swap fraud doubles in SA

A new wave of attacks is targeting financial and online services in Africa, but there are ways to counter it

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SIM swap fraud more than doubled in the last year, according to a report by the South African Banking Risk Information Centre (SABRIC). The finding was highlighted during Kaspersky Lab’s annual Cyber Security Weekend, in Cape Town last week. 

Kaspersky Lab experts discussed the widespread growth of mobile payments across the globe and the many cyber risks that surround such technology, especially SIM swap fraud, which has become very common in Africa and the wider region.

A SIM swap fraud happens when someone convinces your mobile network to switch your phone number over to a SIM card that a criminal possesses. In some cases, there are mobile network’s employees working together with criminals.

By diverting your incoming SMS messages, scammers can easily complete the text-based two-factor authentication checks that protect your most sensitive accounts in financial services, social networks, webmail services, and instant messengers.

Many African countries are suited to mobile payment methods. In fact, research notes that at the end of 2017, there were 135 live mobile money services across the Sub-Saharan African region, with 122 million active accounts. While payment methods through mobiles offer a convenience that is hard to debate, Kaspersky Lab research shows that mobile payments and the banking system are suffering a wave of attack – mostly powered by SIM swap fraud – and people are losing their money as a result.

This type of attack is used to not only steal credentials and capture one-time passwords (OTPs) sent via an SMS, but also to cause financial damage to victims, resetting the accounts on financial services, allowing to the fraudsters access to currency accounts not only in banks but also in fintechs and credit unions. Fraudsters are also using it as a way to steal money using WhatsApp, loading the messages in a new phone, contacting the victim’s contacts asking for money, simulating an emergency situation.

Fabio Assolini, Senior Security Researcher of Kaspersky Lab, said: “Despite financial inclusion services prospering, the flip side to this is that it opens up a world of opportunities to cybercriminals and fraudsters who are using the convenience a mobile phone offers to exploit and poke holes in a two-factor authentication process.”

“Frauds using SIM swap are becoming common in Africa and Middle East, affecting countries like South Africa, Turkey and UAE. Countries like Mozambique have experienced this firsthand. The implemented solution, by banks and mobile operators in Mozambique, as a result, is something I believe we must learn from and encourage other regions to investigate and apply, among other aspects, to mobile payment methods of the future – as a way to ensure that mobile phones do not become an enemy in our pockets.”

The total money lost in the attacks varies by country: there are extreme cases, such as one in the United Arab Emirates, where one victim lost $ 1 million, while in South Africa one victim reported losing $ 20,000. 

“On average, fraudsters can steal $2,500 to $3,000 per victim, while the cost to perform the SIM swap starts from $10 to $40,” says Assolini.

In order to protect the growing mobile digital life and payment methods, Kaspersky Lab recommends the following key considerations:

  • Voice and SMS methods avoided as authentication methods for payments – OTPs in mobile apps like Google Authenticator or the use of physical tokens should be used.
  • Biometrics – there is no better authentication than that of a physical characteristic. Voice authentication is an option that can be investigated further.
  • An automated ‘Your number will be deactivated’ message – to be shared upon SIM swap request. This will support the user to report the activity, if it is not legitimate, faster.
  • Activate 2FA on WhatsApp – in an attempt to minimise WhatsApp hijacking, activating Two-factor authentication using a six-digit PIN on your device is critical. This supports the user in having an additional layer of security on the device.

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Appdate: No wallet? No problem?

In his app roundup, SEAN BACHER highlights VodaPay Masterpass, Charge Running, South African App Integrator Directory, uKheshe Health and LocTransie.

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VodaPay Masterpass

Digital mobility is now a way of life and most are using smartphones to pay bills. 

To meet this need Vodacom and Mastercard have launched VodaPay Masterpass, which enables Vodacom customers to load any bank card into a secure digital wallet, downloaded as an app on their smartphone. Once loaded, these cards and the secure credentials associated with them are safely stored, enabling customers to start transacting immediately without the hassle of entering card details each time they make a purchase.

Vodacom customers can buy prepaid data, airtime and SMS, or voice bundles, directly through the app. They can also select the Pay Bills menu option to settle their DStv accounts, pay a utility bill or take care of a traffic fine.

With the app’s Scan to Pay functionality, users can scan a QR code to pay for goods and services wherever Masterpass is accepted, including all SnapScan and Zapper merchants. Once a QR code is scanned, users select the card they wish to use, and enter their bank PIN number on their own device to complete the transaction.

Platform: Android and iOS

Expect to pay: A free download and users will not be charged for any transaction fees.

Stockists:  Download VodaPay Masterpass for iOS here and for Android here.

Charge Running

Most running apps track data like pace and distance and, in some cases play audio designed to motivate you, but don’t give you the push you get when you run with a friend. Charge Running is an app that lets you run alongside other runners, virtually, as well as giving live coaching to help you go the distance.

The app includes features such as:

·       Unlimited access to live running classes and virtual races  

·       The ability to compete with runners anywhere in the world in real-time

·       A live leaderboard that shows where you are in the pack to keep you pushing

·       Live, personalised feedback from professional trainers 

·       Group chats with coaches and fellow runners throughout the run

·       On-demand runs for times when you can’t join the live groups 

·       A choice of difficulty levels and race types 

Platform: Android and iOS

Expect to pay: A free seven-day trial; thereafter R150 per month

Stockists: Visit the Charge Running site here for downloading instructions.

South African App Integrator Directory

The South African App Integrator Directory from Xero is designed to solve the complexity of choosing apps for small business owners.

The directory is now available in South Africa with six partners, including Realm Digital, Radical Cloud Solutions, Nimacc, Insights, Iridium Business Solutions and Creative CFO. According to Xero, these are all organisations with a proven track record of successfully integrating marketplace apps into Xero businesses. There are also currently over 700 apps in Xero’s App Marketplace worldwide, 21 of which are South African born.

As small businesses become more tech-savvy, they need to know exactly which apps to install on their devices and how the apps will help them. They also need to be able to install these apps from a trusted integrator so they know for what they are paying. 

Platform: Any device with an up-to-date Internet browser.

Expect to pay: A one month trial version is offered, after which the App Integrator ranges from R125 to R245 per month, depending on the company’s needs.

Stockists: Visit Xero here for downloading instructions.

Click here to read about uKheshe Health and LocTransie.

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Prize offered for drone films

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DJI and SkyPixel, the world’s most popular aerial photography community, have announced the first short film contest inviting users to submit cinematic stories shot with camera and gimbal products. The 2019 SkyPixel Short Film Contest will accept entries until 14 October 2019. It welcomes submissions from all creators, ranging from hobbyists to social media users and professional videographers. around the globe.

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The 2019 SkyPixel Short Film Contest consists of three storytelling categories—‘Big Moments Start Small,’ ‘Make Your Move’ and ‘Adventure Starts With You.’ There is no restriction on the type or brand of equipment participants use, and they can submit as many videos as they wish.

A total of 100 winners can win a range of prizes totaling $48,600 USD in categories including Recommended Films, Best Editing, Best Story, Nominated Entries, People’s Choice Prize as well as This Week’s Most Popular, sponsored by the partner SanDisk and WD brand from Western Digital Corp. This year’s Best Short Video winners will each receive the new Ronin-SC Pro Combo, Osmo Action as well as WD 2TB My Passport Wireless SSD.

Winning entries will also be showcased on the SkyPixel website as well as to DJI’s millions of fans and followers across its social media platforms.

“DJI has redefined how people capture stable video for all of life’s moments. The compact size, portability and powerful imaging system of our Osmo and Ronin series have also made it possible for anyone to take their creativity and inspirations to the next level,” said Basile David, Director of Brand and Content Partnerships at DJI. “With this contest, we hope to encourage more people to embrace and share their own creative way of storytelling.”

Since 2014, the SkyPixel online community has attracted 16 million professional aerial photographers and content creators from more than 140 countries, growing into the largest aerial photography community today. Over the past five years, SkyPixel has received over 150,000 submissions, becoming a go-to platform for original aerial masterpieces and extraordinary footage powered by other gimbal products focusing on various themes.

Details of the 2019 SkyPixel Short Film Contest

The short film contest consists of three categories:

Big Moments Start Small: Create a video showcasing the small, lightweight design of your camera device and your best cinematic scenes. Users are recommended to include at least 10 seconds of behind-the-scenes clips of their product such as DJI Osmo Pocket or other devices.

Make Your Move: Create a video showcasing the stabilized footage from your device. Users are recommended to include at least 10 seconds of behind-the-scenes clips of their product such as DJI Osmo Series or other devices.

Adventure Starts With You: Create a short, cinematic narrative film to showcase your creative skills and visual effects. Users are recommended to include at least 10 seconds of behind-the-scenes clips of their product such as DJI Ronin Series or other devices.

*Video submissions should not be longer than three minutes in length.

Submission Details

Submission Start Date: August 15, 2019, 2:00 AM (EST)

Submission End Date: October 14, 2019, 2:00 AM (EST)

Award Announcement: October 31, 2019

Interested participants can visit the 2019 SkyPixel Short Film Contest website for more information on contest rules and guidelines. For more information, contact: Skypixel.campaign@dji.com

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