Security is one of the hottest issues when it comes to online current accounts, especially following all the developments that home banking has had in recent years.
Until some time ago, the SIM cards’ cloning could be problematic, but at worst it would result in an expensive phone bill, deriving from calls never made. With the advent of smartphones, which now play a crucial role in accessing banking operations, the risks have increased both in number and danger.
One of the most frequent cases of threat is the “Sim Swap Fraud“. This phenomenon, which began in the United States, since 2015 has begun to spread also in Italy. How does this fraud work? Through the cloning of the SIM card it is possible to access both the data and the login credentials of the home banking service of another person. The user would start experiencing problems accessing these services or would see some features canceled. The scammer, instead, thanks to the phone card, could get full access and control on the online current account of the victim and use it at will.
The smartphone represents a fundamental component in the two-step authentication process, designed to offer a greater degree of privacy and security to the customer and his data. Following the abandonment of the financial keys by the banks, this new defense mechanism has now become the standard measure.
Even through social networks, such as Facebook, it’s possible to collect a huge amount of public personal data, often through the spread of applications containing malware or viruses and ad hoc prepared wi-fi networks. This practice is called “web scraping“.
In order to avoid incurring scams of this type, experts recommend the use of different authentication tools such as biometric data, physical tokens, special password managers and hardware security keys.
To open an online current account online or to request a consulting, rely on our experience and contact us.