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Wireless carriers need to make changes to combat SIM-card fraud

Antone Gonsalves | Oct. 9, 2013
U.S. carriers will need to adjust security tactics soon to combat an emerging threat in which criminals hijack SIM cards used to authenticate mobile phone customers on wireless networks, experts say.

"The bad guys are constantly adapting," he said. "They're always trying new things."

The worldwide communications industry is projected to lose $46.3 billion from fraud this year, roughly 2 percent of global revenue, according to the Communications Fraud Control Association. Taking over phone accounts is one of the top five frauds and is expected to cost carriers $3.6 billion this year.

To combat criminals, carriers have to become more flexible and be ready to adjust tactics as attackers change theirs. "Security is the art of war," Pingree said.

 

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