Mobile operator wary of fraudsters
“MTN wishes to assure its customers that it has put security requirements and systems in place to improve security,” the company said in a statement.
It said it continuously reassessed the applicability of such security controls and as and when such security controls were breached, new and different controls were developed and implemented.
“However, as with any security and control systems, unscrupulous individuals will always explore ways of circumventing such systems. It is unfortunately a continuous process as criminal elements always find ways to improve their fraudulent methods.”
Since 2009, MTN said it had implemented and had made available to the banking environment a feature called Subscriber Identity for Third Parties (SIFT), which gave banks real-time alerts on change in SIM card number.
It urged customers to safeguard their internet and telephone banking log-in details and password against social engineering (phishing) to safeguard their accounts.
“The banking customer’s log-in details and password is the last line of defense that should only be known to the user. The onus is on consumers to ensure that their passwords and log-in details are not compromised.”
Where fraudulent activity has taken place, MTN is working closely with the South African Police Services as well as the South African Banking Risk Information Centre (SABRIC) to assist in the necessary investigations to bring perpetrators to book.
– CAJ News
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