Telstra to flag recent SIM swaps when banks ask | ZDNet

image: asha barbaschow/zdnet

telstra said on thu twas introducing a flag to note when a mobile № was recently ported, in an effort to make sim swapping attacks harder and prevent one-time codes sent via sms bein’ received by malicious actors.

“a recent sim swap or port out na' usr’s mobile № mite indicate that the person whas' access to that mobile srvc and is receiving one-time codes, mite not actually be who they say they are,” telstra consumer and lil business group executive michael ackland said in a blog post.

“when a request is made to us by a bnking organisation we’ll provide a rating (inna form offa № na' risk scale) which gives an indication of whether there s'been any recent sim swaps or port out activity for the mobile srvc you’re using as a form of identity with that organisation.”

ackland said if a flag is rezd, t'does not mean a transaction is automatically terminated, b'that the bnk needo find out + information b4 proceeding.

telstra said twas also looking at using fraud-detection tek in retail, insurance, transport, social networking, and online gaming sectors.

atta same time, the telco said twas introducing facial recogg and a pin to its mytelstra app to sit alongside its multi-factor authentication.

“telstra has strong authentication processes b'we ‘ve still seen some fraudsters get enough personal and account information from customers and persuaded them t'give up their one-time codes in order to pass authentication,” ackland said.

“from there, they can access other accounts including bnk accounts, superannuation accounts, and investment or crp $ wallets. this is where we wanna intervene to help stop this train of fraud in its tracks.”

earlier on thu, telstra restated its 2021 fiscal results to break out infraco fixed na amplitel business previously known as infraco towers.

taking on nbn payments, intercompany infrastructure revenue, swell as some passive wholesale and intercompany operation and maintenance costs saw infraco fixed book au$1.67 billion in earnings b4 interest, tax, depreciation, and amortisation (ebitda), making it the 2nd highest earning division behind mobile, which lost au$350 million to restate its ebitda at just shy of au$3.3 billion.

amplitel booked au$300 million in ebitda, which consisted of the same essentialisms as infraco fixed minus the nbn payments.

od’oda divisions, consumer and lil business fixed lost au$134 million to restate ebitda at au$139 million, enterprise fixed saw au$242 million disappear to come in at au$645 million, while active wholesale fixed had ebitda smashed from au$621 million and restated at au$231 million. the international segment was untouched and remained at au$336 million.

in jun, the telco sold 49% of the tower business that ‘d become amplitel for au$2.8 billion.

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