{"id":7617,"date":"2025-05-19T16:40:49","date_gmt":"2025-05-19T16:40:49","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=7617"},"modified":"2025-12-01T17:48:14","modified_gmt":"2025-12-01T17:48:14","slug":"unseen-money-11-a-bad-bird-on-your-wire","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2025\/05\/19\/unseen-money-11-a-bad-bird-on-your-wire\/","title":{"rendered":"Unseen Money 11\u2014a bad bird on your wire"},"content":{"rendered":"

Most scams where the victim is tricked into paying money to fraudsters originate on social media\u2014often on Facebook, Instagram and WhatsApp.<\/p>\n

But in the UK around one scam in five\u2014and nearly half by the total value stolen\u2014exploits weaknesses in our telecommunications infrastructure<\/a>.<\/p>\n

That could be someone spoofing the number of a legitimate entity, such as the tax office or your bank, when calling you. It could be a scammer exploiting security vulnerabilities in the mobile network to compromise and intercept voice and SMS messages.<\/p>\n

In a rapidly rising form of fraud, criminals impersonate the nearest cell phone tower and send messages that look like they\u2019re from your bank or mobile service provider<\/p><\/blockquote>\n

In a rapidly rising form of fraud, criminals impersonate the nearest cell phone tower and send messages that look like they\u2019re from your bank or mobile service provider. One click on a link and you\u2019re soon handing over valuable personal information or downloading malware that gives the scammers access to your payment app or crypto wallet.<\/p>\n

In the latest episode of Unseen Money<\/em> from New Money Review<\/em><\/a>, my co-host Timur Yunusov and I are joined by telecom cybersecurity expert Dmitry Kurbatov, chief executive of UK-based company SecurityGen.<\/p>\n

In the podcast, Dmitry explains how criminals can spoof a trusted entity\u2019s phone number when calling you. We look at SIM swap frauds and discuss who bears responsibility for the continuing security flaws in mobile networks.<\/p>\n

We highlight in which countries users are currently most exposed to mobile phone-based frauds. We look at the recent SK Telecoms breach in South Korea, which exposed the personal and financial data of up to 23 million users. And we describe the ever more ingenious methods being used by scammers to subvert telecoms networks.<\/p>\n

Listen to the podcast.<\/a><\/p>\n

Some technical terms used during the podcast:<\/em><\/p>\n

\u201cSIP trunking\u201d is the digital method of making and receiving phone calls and other digital communication over an internet connection.<\/em><\/p>\n

\u201cSIP protocol\u201d is a signalling protocol used for initiating, maintaining, and terminating multimedia sessions, including voice, video, and messaging.<\/em><\/p>\n

\u201cSIM farms\u201d or \u201cSIM boxes\u201d bridge the internet and cellular networks, enabling the routing and redirection of calls or messages through multiple SIM cards.<\/em><\/p>\n

\u201cRich Communication Services (RCS)\u201d are a messaging protocol that enhances traditional SMS by offering richer features like multimedia sharing, group chats, read receipts and typing indicators.<\/em><\/p>\n

\u201cDrive-by smishing\u201d is where fraudsters use fake base stations to force victims\u2019 phones to connect to a fake mobile network and then use SMS messages to distribute malicious links or initiate scams.<\/em><\/p>\n

In \u201csoftware-defined radio\u201d, components that are conventionally implemented in analogue hardware (e.g., mixers, filters, amplifiers, modulators\/demodulators, detectors) are instead implemented by means of software on a computer.<\/em><\/p>\n

A \u201cglobal title\u201d is an address used in SCCP (Signalling Connection Control Part, a network-layer protocol in telecommunications) for routing signalling messages on telecommunications networks.<\/em><\/p>\n

\u201cSS7\u201d is a set of telecommunications protocols that are used to exchange information between different telephone networks.<\/em><\/p>\n

\u201cIPX\u201d is a telecommunications interconnection model for the exchange of internet protocol-based traffic between customers of separate mobile and fixed operators.<\/em><\/p>\n

*************<\/p>\n

The New Money Review podcast<\/a> brings you the best minds from the world of money. <\/em><\/p>\n

From economics to payments, financial markets, technology, law, digital assets, crime and fraud, you’ll find an episode that interests you.\u00a0<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Most scams where the victim is tricked into paying money to fraudsters originate on social media\u2014often on Facebook, Instagram and WhatsApp. But in the UK around one scam in five\u2014and […]<\/p>\n","protected":false},"author":3,"featured_media":7388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1013,1012,1053,1014,1011],"tags":[2311,2307,2310,2305,2308,2309,2306],"class_list":{"0":"post-7617","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-account","8":"category-exchange","9":"category-featured-1","10":"category-payment","11":"category-value","12":"tag-dmitry-kurbatov","13":"tag-drive-by-smishing","14":"tag-ipx","15":"tag-mobile-networks","16":"tag-sip-protocol","17":"tag-sip-trunking","18":"tag-ss7"},"yoast_head":"\nUnseen Money 11\u2014a bad bird on your wire - New Money Review<\/title>\n<meta name=\"description\" content=\"How can a scammer possibly impersonate your bank or the tax office when calling your mobile? 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