With the cost of SIM-Swap fraud affecting banks and their customers directly, providing more secure access to mobile banking is essential. Tech Smart has featured the launch of Myriad Connect’s service, which helps tackle SIM-Swap fraud and support those customers who are losing their life savings to criminals exploiting mobile banking loopholes.
The article features comment from Paul Kingsbury, Myriad Connect’s VP of Business Development and Marketing: “The threat from SIM Swap is greatest in regions where mobile banking penetration is highest. Whereas in the UK the typical amount stolen is in the low thousands of pounds, in South Africa there have been a few cases of millions of Rand going missing. The challenge for banks and operators is how to protect customers not only from criminal gangs, but often invisible, compromised staff.”
Read the full article here.