Attacks/Breaches

11/18/2014
04:10 PM
Sara Peters
Sara Peters
Quick Hits
Connect Directly
Twitter
RSS
E-Mail
50%
50%

'Misdial Trap' Phone Scam Hits Financial Services

One in six financial institutions victimized by this new scam.

Pindrop Security today warned financial institutions and their customers about a telephone scam they've dubbed the "misdial trap."

Fraudsters buy phone numbers similar to legitimate businesses, and pose as that business's customer service line when customers misdial -- not unlike how some fraudsters buy domain names similar to legitimate online businesses and create sites that mimic them, according to Pindrop.

The numbers fraudsters typically choose will have the same first six digits as the legitimate business, with only the final digit changed, or they will have the same seven-digit number but a different area code -- a toll-free number area code, for example.

When they hook a customer, they pretend they are customer service for the company in question and request sensitive data from customers -- sometimes offering a free gift card in exchange.

Some 103 of the 600 financial institutions examined by Pindrop Security were affected by the misdial trap.

"Phone fraud costs banks and financial institutions nearly $2 billion every year and fraudsters continue to develop new attacks to steal from consumers and financial institutions," said Vijay Balasubramaniyan, co-founder and CEO of Pindrop Security. "The misdial trap scam is just the most recent example of how sophisticated fraud rings are exploiting inherent vulnerabilities in the phone channel to collect consumer information and defraud financial institutions."

Sara Peters is Senior Editor at Dark Reading and formerly the editor-in-chief of Enterprise Efficiency. Prior that she was senior editor for the Computer Security Institute, writing and speaking about virtualization, identity management, cybersecurity law, and a myriad ... View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
StudiousMonkey
50%
50%
StudiousMonkey,
User Rank: Apprentice
11/19/2014 | 2:58:53 PM
Clever
Various phone scammers and prank callers have used this technique for years.

Check out the "Touchtone Terrorists". This guy (Pete Dzoghi) made a living telesquatting many of the major courrier services like UPS and FedEx, as well as other organizations and companies. He would pose as various disgruntled customer service agents to ultimately get a huge rise out of the unsuspecting customer who had dialed the wrong number. He recorded these calls and sold them through retail channels.

Although the end result and goal are not the same, the concept has been around for years.
vnewman2
50%
50%
vnewman2,
User Rank: Strategist
11/19/2014 | 1:44:50 AM
Cyber squatting but for phones
So it's telesquatting then. It's pretty clever actually. This is the first time I'm hearing of it. So what is the solution? Unlike websites you can't as easily monitor or pull the plug on a phone number before a boatload of damage has been done.
Russia Hacked Clinton's Computers Five Hours After Trump's Call
Robert Lemos, Technology Journalist/Data Researcher,  4/19/2019
Tips for the Aftermath of a Cyberattack
Kelly Sheridan, Staff Editor, Dark Reading,  4/17/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-11378
PUBLISHED: 2019-04-20
An issue was discovered in ProjectSend r1053. upload-process-form.php allows finished_files[]=../ directory traversal. It is possible for users to read arbitrary files and (potentially) access the supporting database, delete arbitrary files, access user passwords, or run arbitrary code.
CVE-2019-11372
PUBLISHED: 2019-04-20
An out-of-bounds read in MediaInfoLib::File__Tags_Helper::Synched_Test in Tag/File__Tags.cpp in MediaInfoLib in MediaArea MediaInfo 18.12 leads to a crash.
CVE-2019-11373
PUBLISHED: 2019-04-20
An out-of-bounds read in File__Analyze::Get_L8 in File__Analyze_Buffer.cpp in MediaInfoLib in MediaArea MediaInfo 18.12 leads to a crash.
CVE-2019-11374
PUBLISHED: 2019-04-20
74CMS v5.0.1 has a CSRF vulnerability to add a new admin user via the index.php?m=Admin&c=admin&a=add URI.
CVE-2019-11375
PUBLISHED: 2019-04-20
Msvod v10 has a CSRF vulnerability to change user information via the admin/member/edit.html URI.