Account Takeover Protection

The mobile device is often an individual’s primary means of communications and is increasingly used as a method of authentication for financial transactions. Therefore any information that may indicate the telephone number or mobile device may have been compromised is vital in order to protect the individual and their financial service providers.

Key Benefits

SIM swap

A new SIM card has been issued and associated with a given telephone number. However, it could have been done fraudulently without the knowledge of the subscriber.

Location changes

Mobile devices and network operators are able to track user location. Sometimes this can be maliciously manipulated or shared without appropriate privacy controls. An unexpected change in location can indicate an individuals phone has been hijacked without their knowledge.

Call forward

An instruction to forward calls and messages may have been carried out without the knowledge of the subscriber.

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What's next?

Some of these services exist in the market today without the knowledge of individuals. This is not consistent with the principles of data protection regulations. Going forward, in order to avoid service misuse and build trust with individuals, it is critically important for the industry to ensure that services comply with global data protection regulations. This is why XConnect is working closely with mobile operators and other partners. For more information about the threats faced by individuals and enterprises, please see the recent blogs below. If you would like to learn more about our development timeline or get involved in our early adoption projects please get in touch with our experts.