#Sim-swapping scam

[themoneysavvyblog]

Recognizing and Avoiding the Latest Scams of 2025

I wrote a few posts about scams, and more importantly how to protect yourself from them. Sadly, these not only remain true to this day, but scams are in fact becoming more and more sophisticated, primarily because of AI. Here are the latest scams you need to be aware of in 2025 so far. AI Generated Scams With the use of artificial intelligence becoming more widespread and easy to access,…

[fitzrove]

can someone pay me 2000 euros a month to play the sims 2 rotationally for 8 hours a day 5 days a week. unfortunately i'm pulling rookie numbers with it rn (only about 2-3h/day, and it's cut out of my sleep time) due to things like w*rk and my m*ster's th*sis

[businessskibat]

Meesho Scam Se Kaise bache : शॉपिंग करते समय कुछ बातों का ध्यान रखें 

Meesho Scam Se Kaise bache:आजकल ऑनलाइन शॉपिंग का चलन बहुत बढ़ गया है और इस बढ़ती लोकप्रियता के साथ ही ऑनलाइन ठगी (scam) के मामले भी बढ़े हैं। कई ऐप्स और प्लेटफ़ॉर्म जैसे Meesho, जो घर बैठे खरीदारी का एक सुविधाजनक तरीका प्रदान करते हैं, उन पर ग्राहकों को धोखा देने वाले स्कैम भी सामने आ रहे हैं। इस लेख में हम Meesho Scam के बारे में चर्चा करेंगे और बताएंगे कि आप कैसे इन धोखाधड़ी से बच सकते हैं और…

[jaagrukbharat]

Sim Swapping Scam- Save Yourself From Sim Swap Fraud

The Telecom Regulatory Authority Of India (TRAI) has announced changes to mobile number portability rules to prevent SIM swap fraud. Under this new rule, SIM owners who’ve gotten a new SIM due to theft or damage cannot port the new SIM card for the next 7 days. 

[mostlysignssomeportents]

This day in history

Picks and Shovels is a new, standalone technothriller starring Marty Hench, my two-fisted, hard-fighting, tech-scam-busting forensic accountant. You can pre-order it on my latest Kickstarter, which features a brilliant audiobook read by Wil Wheaton.

#15yrsago ATM skimmer — could you spot it in the wild? https://krebsonsecurity.com/2010/01/would-you-have-spotted-the-fraud/

#15yrsago Italy proposes mandatory licenses for people who upload video https://web.archive.org/web/20100119020907/http://www.thestandard.com/news/2010/01/15/proposed-web-video-restrictions-cause-outrage-italy

#10yrsago Leaked US cybersecurity report singles out crypto as essential for security of private data https://www.theguardian.com/us-news/2015/jan/15/-sp-secret-us-cybersecurity-report-encryption-protect-data-cameron-paris-attacks

#10yrsago New editor at the Magazine of Fantasy and Science Fiction https://locusmag.com/2015/01/finlay-named-editor-of-fsf/

#5yrsago Five steps for thinking about climate change without being overwhelmed by hopelessness https://www.nytimes.com/2020/01/10/opinion/sunday/how-to-help-climate-change.html

#5yrsago The ten types of movie: orange and blue, sexy legs, blurry cop… https://twitter.com/leesteffen/status/1217167850009440257

#5yrsago American conspiracy theorists keep insisting on their right to trial by combat https://www.loweringthebar.net/2020/01/kansas-man-seeks-trial-by-combat.html

#5yrsago Major brands’ ads are showing up on climate deniers’ Youtube videos https://www.theverge.com/2020/1/16/21066906/youtube-climate-change-denial-avaaz-samsung-uber-nintendo

#5yrsago Hong Kong shoppers patronize “yellow” stores that support the uprising; while “blue” businesses that support the mainland are vandalized https://www.straitstimes.com/asia/east-asia/hong-kong-protest-shoppers-build-yellow-economy-reward-businesses-that-support-their

#5yrsago Carriers ignore studies that show they suck at preventing SIM-swap attacks https://www.issms2fasecure.com/assets/sim_swaps-01-10-2020.pdf

#5yrsago Bill from Missouri’s Rep Ben Baker threatens librarians with prison sentences for allowing minors to read books banned by town committees https://www.theguardian.com/books/2020/jan/16/missouri-could-jail-librarians-for-lending-age-inappropriate-books-parental-oversight-of-public-libraries-bill

#5yrsago Court case lays bare KPMG’s crimes: poaching employees from its own regulators and making them steal government secrets https://www.pogo.org/investigations/how-accountants-took-washingtons-revolving-door-to-a-criminal-extreme

#1yrago American education has all the downsides of standardization, none of the upsides https://pluralistic.net/2024/01/16/flexibility-in-the-margins/#a-commons

Check out my Kickstarter to pre-order copies of my next novel, Picks and Shovels!

[digitalcreationsllc]

US Man Jailed 8 Years for SIM Swapping and Apple Support Impersonation

Golshan’s schemes involved SIM swapping, social media account takeovers, Zelle payment fraud, and impersonating Apple Support personnel. A 25-year-old man from downtown Los Angeles has been sentenced to 8 years in federal prison for orchestrating a series of online scams that defrauded hundreds of victims of over $740,000. Amir Hossein Golshan (PDF) was convicted of one count of unauthorized…

[lisaward867]

How to Secure Your Web3 Wallet from Hacks and Scams

Web3 wallets are highly sought after due to the increased usage of technologies such as decentralized applications and blockchain technology in general. Whether you need web3 for decentralized development or simply to keep cryptocurrencies, you must focus on the security of your digital assets. Cyber threats are nothing but trouble—they keep coming for the assets. Protection against this has to be robust. When your wallet is under threat, the financial loss is also irreversible, thereby justifying the case for an uproar for the sake of one's own funds. The understanding needs to be developed for developers and users about potential threats. A safe Web3 development platform can imply a higher degree of security, thereby reducing chances of compromise and improving wallet safety. The groundwork prepared for the adoption of these kinds of initiatives becomes the stepping-stone to seeking out uninterrupted safety in the promising world of blockchain technology.

Use a Hardware Wallet

A hardware wallet for cryptocurrency storage stands as one of the more secure options. Unlike software wallets, hardware wallets keep their private keys offline, therefore minimizing the risk of hacking incidents. Some of the more popular options are likely going to be Ledger and Trezor, as they are more resistant to malware and phishing attacks. In this case, confirming the transactions manually adds yet another layer of security. Although small initial investments might have to be made to acquire hardware wallets, having one in place will guarantee your peace of mind because it keeps your private keys offline and safe from any possible threats online.

Enable Two-Factor Authentication (2FA)

Two-factor authentication (2FA) is supported by several Web3 wallets and truly adds to the extra security. Whenever there is a 2FA turned on, in case your password gets into another person's hand, an additional authentication (usually an OTP from an authenticator app) will still be required for logging in. Thus, virtually eliminating the chances of unauthorized access. Instead of SMS-based 2FA, stick to authenticator apps like Google Authenticator or Authy, since SMS verifications are prone to SIM-swapping attacks. Keeping your authentication methods updated and reviewed regularly also provides extra protection.

Beware of Phishing Scams

A hacker breaks into someone's wallet credentials through phishing scams. Always cross-check URLs before providing any sensitive information, and never click on any suspicious links from emails, social media, or messaging apps! Scammers create bogus websites that mimic real Web3 platforms to gain access to users' private keys. Be careful with unsolicited messages that require immediate actions like withdrawing funds or verifying your account. To secure your browsing experience, you may install browser extensions that identify phishing attempts and bookmark legitimate websites.

Keep Your Private Keys Secure

Your private key is your Web3 wallet-the most vital part. Do not tell anyone what it is, and do not save it in easily accessible areas such as cloud storage or email accounts. Instead, write it down on paper and keep it somewhere safe. Storage could include: or -kept in security vaults. Another practical way is to use a good password manager for strong encryption if you wish to have a digital backup. Some users also go for a multi-signature wallet where multiple private keys are required for one transaction, thus adding further security and reducing the risk in case one key becomes compromised.

Regularly Update Your Wallet Software

Keeping your Web 3 wallet software updated lets you use the latest security fixes. Developers release updates to fix some possible vulnerabilities, so make it a habit to check for updates regularly on the official sites or app stores. Delaying updates may expose your wallet to the exploits that hackers are currently targeting. Also, confirm that a certified source is issuing wallet software to avoid running into malware that pretends to be a legitimate application. Where available, enable automatic updates to help keep your security defenses intact without active human participation.

Use a Secure Web3 Development Platform

When creating or interacting with decentralized applications, choose a credible Web3 development platform with robust security measures. Platforms with secure APIs and smart contracts auditing services help reduce vulnerabilities of transaction threats. Focus on platforms that offer end-to-end encryption, authentication mechanisms, and built-in security frameworks to safeguard user data within an ecosystem. Security audits of a smart contract can prevent exploits that threaten your wallet or project.

Double-Check Smart Contracts Before Signing

Many scams happen through malicious smart contracts that users unknowingly sign. Always read the smart contract details before approving any transaction and verify its legitimacy via blockchain explorers or trusted sources. In case something looks suspicious, do not proceed with the transaction. Scammers sometimes design contracts that allow them to withdraw money from your wallet without any further consent. Do not trust a contract address without verifying it on tools such as Etherscan and BscScan. Always confirm where the transaction came from. This little verification will save you from falling victim to many fraudulent schemes.

Conclusion

Securing your Web3 wallets is a crucial part of ensuring the digital assets they hold from hacks and scams. Ensuring that you use best practices such as hardware wallets, 2FA, avoiding phishing scams, and up-to-date software will significantly reduce security risks. Moreover, for developing decentralized applications, one must select a credible Web3 app development platform to increase security and guarantee safe blockchain use. The decentralized world contains such vast possibilities, but it requires watching an asset carefully through prudent measures. This applies since the attackers are always innovating to find other avenues in exploiting this evolving Web3 landscape, and therefore, it becomes increasingly important for users and developers to stay informed on how to adapt to the latest security improvements. Practicing this security and vigilance will empower one to traverse the decentralized ecosystem delicately and safely protect investments from potential threats.

[fromdevcom]

Is Your Snapchat Safe? How Hackers Gain Access and What You Can Do to Prevent It Snapchat has become one of the most popular social media platforms, especially among younger audiences. With its disappearing messages and creative features, it offers a unique and fun experience. However, like any online platform, Snapchat is not immune to hacking. If you’ve ever wondered how hackers gain access to Snapchat accounts or how you can protect your own, this guide will shed light on the common tactics hackers use and the best preventive measures you can take. How Hackers Hack Snapchat Accounts Phishing Scams Phishing is one of the oldest and most effective hacking methods. Hackers use fake websites or emails that look like legitimate Snapchat notifications. They may promise something enticing like a prize, a new feature, or a security update. When users click on these links and enter their login details, the hacker gains full access to their Snapchat account. Phishing scams are often disguised in ways that make them difficult to detect. Sometimes, hackers will even create fake login pages that resemble Snapchat’s official interface. These deceptive websites are designed to steal usernames and passwords. How to Prevent: Always double-check the website URL before entering any personal information. Avoid clicking on suspicious links or email attachments. Instead, go directly to the official Snapchat website or app. Enable two-factor authentication (2FA) on your account. Brute Force Attacks Brute force attacks involve hackers using automated software to guess your password. They typically try every possible combination of characters until they find the correct one. If your password is weak or easy to guess, this method can work, especially if you use a simple or commonly used password. Hackers might target accounts that have weak or repetitive passwords, such as “123456” or “password123.” If your Snapchat password is simple and lacks complexity, it’s easy for hackers to crack. How to Prevent: Use strong, unique passwords that include a mix of letters, numbers, and symbols. Avoid using easily guessable information like your name, birthdate, or “password123.” Consider using a password manager to keep track of your complex passwords. Social Engineering Attacks Hackers may not always need to crack your password to access your account. Social engineering attacks rely on manipulating you or others around you to gain access. For example, a hacker might impersonate Snapchat’s support team and request sensitive information such as your account details. They may even try to convince you to send them a password reset email. How to Prevent: Be cautious about sharing any personal information online, even with friends. Never share your Snapchat password, even with someone claiming to be from Snapchat support. Avoid sharing details like your phone number or email with strangers. SIM Swap Attacks In a SIM swap attack, hackers trick your phone carrier into transferring your phone number to a new SIM card. Once they control your phone number, they can use it to receive two-factor authentication (2FA) codes and take over your Snapchat account. This is particularly dangerous if you rely on SMS-based 2FA. How to Prevent: Set up a PIN or password with your phone carrier to prevent unauthorized SIM swaps. Use an authenticator app (like Google Authenticator or Authy) instead of relying on SMS-based 2FA. Be cautious of unsolicited calls or messages asking for personal information related to your phone number. Third-Party Apps There are various third-party apps and websites that claim to offer features like viewing deleted Snapchat messages or tracking someone’s account activity. These apps may ask for your Snapchat credentials to function. However, giving your account details to these apps puts your account at risk. How to Prevent: Never provide your Snapchat login information to third-party apps or websites.

If an app asks for your Snapchat credentials, it’s likely a scam. Stick to the official Snapchat app for all your social media needs. Best Ways to Protect Your Snapchat Account Enable Two-Factor Authentication (2FA) One of the most effective ways to protect your Snapchat account is by enabling two-factor authentication (2FA). 2FA adds an extra layer of security by requiring a second form of identification (usually a code sent to your phone) in addition to your password. Even if a hacker gets hold of your password, they won’t be able to access your account without the second factor. To enable 2FA on Snapchat, follow these steps: Open Snapchat and go to your profile. Tap the gear icon in the top right corner to open settings. Scroll down to "Two-Factor Authentication" and follow the prompts to enable it. Change Your Password Regularly It’s always a good idea to change your Snapchat password regularly. This limits the chances of an attacker gaining long-term access to your account. Choose a strong password that’s unique to Snapchat, and avoid using the same password across multiple platforms. Monitor Account Activity Keep an eye on your Snapchat account activity. If you notice any unfamiliar messages, snaps, or friend requests, it could be a sign that your account has been compromised. You can view your account’s login history by going to the settings and checking "My Account" for devices that have accessed your account. Use Strong, Unique Passwords As mentioned earlier, weak and repetitive passwords make it easy for hackers to gain access to your account. Use complex, random passwords with a mix of numbers, symbols, and both lowercase and uppercase letters. Avoid using anything easily guessable, like your name or birthdate. Educate Yourself About Phishing Scams Knowing how to recognize phishing scams can help you avoid falling victim to them. If you ever receive a suspicious email or text message claiming to be from Snapchat, don’t click any links. Instead, visit the official Snapchat app or website to verify any claims. Conclusion While Snapchat offers fun and exciting features, it’s important to remember that online security should always be a priority. By understanding how hackers hack Snapchat accounts and taking the necessary precautions, you can protect your personal information and ensure a safer online experience. Enable two-factor authentication, use strong passwords, and be cautious when clicking on links or sharing personal information. With these tips, you can stay ahead of potential threats and keep your Snapchat account safe from hackers.

[alwaysswitchedon]

#FraudAlert: How to protect yourself against the SIM Swap Scam

#FraudAlert: How to protect yourself against the SIM Swap Scam. #TechTip brought to you by Yours *TrulyJuly*. #YoursTrulyJuly #TechTuesday #TechBlogger #TechBlog #Scam #Spam #Phishing #ScamAlert #FraudAlert #BeCyberSmart #GetCyberSafe #ThinkBeforeYouAct #ThinkBeforeYouPost #InternetSafety #OnlineSecurity #eSafety #CyberSecurity #DataSecurity #CyberTips #online #digital #DigitalMarketing #OnlineMarketing #ContentMarketing #Hack #Trick #SocialEngineering #usability #UX #UserExperience #techie #techsupport #tipsandtricks #BetterDigitalWorld #counterfeit #fake #GoodPractice

SIM Swap Scams are on the rise, but there’s something you can do to prevent it in the first place:   How to prevent SIM swapping: Request a Number Lock or Port Freeze from your mobile network provider and lock the account to your current SIM. Once a number is locked, it cannot be ported to another SIM. That means should you want to move your phone number over to another SIM, you will need to…

[thestevenwickblog]

Crime News

AG Ashley Moody announced charges against two individuals involved in SIM swap fraud scheme that resulted in the theft of nearly $280,000 from a Florida victim’s bank account #justice #CrimeNews https://newsmeapp.com/florida-attorney-general-charges-two-in-280000-sim-swap-scam/

[flashfund3]

Bypass Two-Factor Authentication: Risks and Techniques

Two-factor authentication (2FA) is widely regarded as a crucial security measure for protecting online accounts. It adds an extra layer of security by requiring not only a password but also a second form of verification. However, some individuals seek to bypass two-factor authentication for malicious purposes. This article explores the risks associated with 2FA, methods used to circumvent it, and the implications of such actions.

Understanding Two-Factor Authentication

Two-factor authentication enhances security by requiring two different forms of identification before granting access to an account. Credit Card Loading Typically, users must provide something they know (like a password) and something they have (like a phone for receiving a verification code). While this system significantly improves account security, it is not foolproof.

Common Techniques Used to Bypass 2FA

Phishing Attacks: One of the most common methods used to bypass 2FA involves phishing. Cybercriminals often create fake login pages that closely resemble legitimate ones to trick users into entering their credentials. Once they have the username and password, they may also capture the second factor if it's a code sent via SMS or email.

SIM Swapping: In SIM swapping, attackers convince a mobile carrier to transfer the victim's phone number to a new SIM card controlled by the attacker. This gives them access to calls and texts, including those used for 2FA. Once they have control of the victim's phone number, they can easily bypass authentication mechanisms.

Man-in-the-Middle (MitM) Attacks: These attacks involve intercepting communications between the user and the service they are trying to access. By posing as the service, the attacker can capture both the password and the 2FA code.

Malware: Cybercriminals often use malware to infiltrate users' devices. Once installed, the malware can log keystrokes, Bypass Two Factor Authentication capture screenshots, and even intercept authentication codes. This method can be particularly effective against individuals who may not be security-savvy.

The Consequences of Bypassing 2FA

The implications of bypassing two-factor authentication are severe. For individuals, it can lead to identity theft, financial loss, and reputational damage. For organizations, it can result in data breaches, regulatory penalties, and significant financial losses. Bypassing 2FA undermines the entire security framework that organizations rely on to protect sensitive information.

Credit Card Loading and Bank Wire Transfer: Key Concerns

In the context of financial transactions, individuals who succeed inbypassing two-factor authentication often target systems that facilitate credit card loading and bank wire transfers. This activity poses a significant risk not only to individual accounts but also to the financial institutions involved.

Credit Card Loading refers to the process of adding funds to a prepaid card or transferring money from one account to another using credit card details. Bank Hacking Software If a hacker gains access to an account, they can load credit onto cards or transfer money without the rightful owner's consent.

Bank Wire Transfer, on the other hand, allows for direct money transfers between banks. Attackers can exploit vulnerabilities in the authentication process to initiate unauthorized wire transfers, leading to substantial financial losses.

Prevention Strategies

To protect against the risk of 2FA bypass, users should consider the following strategies:

Use Authenticator Apps: Instead of relying on SMS for 2FA codes, use authenticator apps that generate time-sensitive codes. These are less vulnerable to interception.

Enable Notifications: Set up alerts for any account activity. This way, if a transaction occurs without your consent, you can take immediate action.

Educate Yourself and Others: Awareness of common scams and attack vectors can help individuals recognize suspicious activities and avoid falling victim to them.

Regularly Update Passwords: Change passwords frequently and avoid using the same password across multiple accounts to minimize risk.

[trustwallets5]

Educating Users on Security Best Practices: Avoiding Scams and Hacks

As the world becomes increasingly digital, the rise of cryptocurrencies and blockchain technology has brought both exciting opportunities and significant security challenges. With the growing popularity of digital assets, the risk of scams and hacks has increased, posing a serious threat to individual users and institutions. While many crypto platforms offer built-in security features, the responsibility for securing assets often falls on users themselves.

This article outlines essential security best practices to help users protect their cryptocurrency assets and avoid common scams and hacks.

1. The Importance of Security Awareness

Cryptocurrency is decentralized, meaning that transactions are irreversible, and there is no central authority to turn to in the event of fraud or theft. This makes education on security best practices critical for users. Many individuals fall victim to scams because of a lack of understanding about how to properly secure their wallets and transactions.

Security awareness includes knowing how to identify potential threats, adopting strong security habits, and staying up-to-date with the latest developments in the crypto space.

2. Common Cryptocurrency Scams

Before diving into best practices, it’s important to recognize some of the most common scams that cryptocurrency users face:

A. Phishing Attacks

Phishing is one of the most prevalent scams in the crypto world. Scammers impersonate trusted entities, such as exchanges or wallet providers, and trick users into providing sensitive information like passwords or Old Version trust wallet private keys. These attacks often come in the form of emails or fake websites designed to steal login credentials.

B. Fake Investment Schemes

Fraudsters often promote fake investment opportunities or initial coin offerings (ICOs) with promises of guaranteed high returns. They attract unsuspecting users into depositing their cryptocurrency, only to disappear with the funds.

C. Ponzi and Pyramid Schemes

These scams involve promises of large returns to early investors, funded by the money from new participants. The scheme collapses when new users stop joining, leaving most people with significant losses.

D. Fake Wallets or Apps

Malicious actors create fake cryptocurrency wallets or apps that appear legitimate but are designed to steal the user’s private keys and gain access to their funds.

E. SIM Swapping

This attack involves hackers taking control of a user’s mobile number by tricking the phone carrier into switching the number to a new SIM card. With control of the number, hackers can intercept two-factor authentication (2FA) codes and access accounts.

3. Best Practices for Securing Cryptocurrency Assets

To avoid scams and hacks, users must take proactive steps to secure their digital assets. The following best practices can significantly reduce the risk of falling victim to an attack.

A. Use Strong Passwords and Two-Factor Authentication (2FA)

One of the simplest yet most effective ways to secure your crypto accounts is to use strong, unique passwords for each platform. A password manager can help create and store complex passwords, reducing the likelihood of a breach.

Two-factor authentication (2FA) adds an extra layer of security by requiring users to verify their identity through a second method, such as a text message or authentication app (e.g., Google Authenticator). Always enable 2FA on all cryptocurrency-related accounts.

B. Avoid Sharing Private Keys

Your private key is the most critical piece of information that secures your cryptocurrency wallet. It acts as a digital signature, allowing you to access and control your funds. Never share your private key with anyone, and avoid storing it online or in easily accessible locations.

If you need to store your private key, consider using a hardware wallet or cold storage solution, which keeps your key offline and out of reach of hackers.

C. Verify URLs and Emails

Always double-check URLs and email addresses before interacting with any cryptocurrency service. Scammers often create fake websites or send emails from domains that closely resemble legitimate ones. For example, they may replace a lowercase "l" with a "1" in a website address to trick users.

When in doubt, manually type the URL of the cryptocurrency platform into your browser rather than clicking on a link in an email or message.

D. Use Reputable Wallets and Exchanges

Choose wallets and exchanges with a strong reputation for security. Research user reviews, security policies, and any reported incidents of hacks or breaches before selecting a platform. It's also important to verify that the wallet or exchange you are using supports 2FA and other advanced security features.

E. Be Wary of Public Wi-Fi and Devices

Avoid accessing your cryptocurrency wallets or making transactions on public Wi-Fi networks, as they are often vulnerable to attacks. If you must access your wallet on a public network, use a Virtual Private Network (VPN) to encrypt your internet connection.

Likewise, avoid logging into your cryptocurrency accounts from shared or public devices. Hackers may install keyloggers or other malicious software on public devices to capture your credentials.

F. Regularly Update Software

Ensure that your wallet software, exchange apps, and operating systems are always up-to-date. Updates often include security patches that address vulnerabilities and bugs that could be exploited by hackers. Failing to update your software could leave your assets exposed.

4. The Role of Education in Preventing Hacks and Scams

Education is the key to preventing security breaches in the cryptocurrency space. Many scams rely on user ignorance or complacency, so staying informed is one of the best defenses against cybercrime.

A. Learn About the Technology

Understanding how blockchain technology and cryptocurrency wallets work can help you identify potential vulnerabilities and adopt appropriate security measures. Learning about encryption, public and private keys, and how transactions are processed can deepen your knowledge and improve your security practices.

B. Follow Trusted Sources

Stay up-to-date with the latest security news in the cryptocurrency space by following trusted blogs, industry experts, and official communications from the wallets and exchanges you use. Knowledge of the latest scams, hacks, and vulnerabilities can help you avoid becoming a victim.

C. Be Skeptical of "Too Good to Be True" Offers

Be cautious of investment opportunities that promise unrealistic returns or require you to send cryptocurrency to unknown addresses. Always research projects and investments before committing any funds, and if something sounds too good to be true, it probably is.

5. Conclusion

Securing cryptocurrency assets requires a proactive approach and a strong understanding of the common threats that exist in the digital world. By adopting security best practices, such as using strong passwords, enabling 2FA, avoiding phishing scams, and storing private keys securely, users can protect themselves from hacks and scams. Additionally, staying educated about the latest security developments and threats is crucial in maintaining a safe and secure cryptocurrency experience. The future of digital assets depends on widespread user awareness and commitment to security.

[likitakans]

Lessons Learned from Developing a Fintech App with Security as a Priority

Developing a fintech app is no small feat. When dealing with sensitive financial data, security becomes more than just a requirement—it’s the cornerstone of the entire project. With the rise in cybercrime and the growing dependence on digital financial platforms, ensuring that security is at the forefront of the development process is crucial. Below are the key lessons learned from building a fintech app where security was prioritized at every step.

1. Security-First Mindset from the Beginning

One of the most critical lessons is the importance of adopting a security-first approach from day one. Security cannot be an afterthought or added on as a layer once the app is completed. It must be embedded into the entire development process—from the initial architecture design to post-launch updates.

A proactive strategy involved:

Threat modeling: Identifying potential threats and attack vectors early on.

Secure coding practices: Training the development team on writing secure code, following OWASP guidelines, and preventing common vulnerabilities like SQL injection, cross-site scripting (XSS), and cross-site request forgery (CSRF).

Building with encryption in mind: Ensuring all sensitive data is encrypted, both in transit and at rest.

2. Compliance and Regulatory Standards Aren’t Optional

Fintech apps operate in a highly regulated space. Meeting compliance standards such as GDPR, PCI DSS (Payment Card Industry Data Security Standard), and local financial regulations is mandatory. During development, the focus wasn’t just on meeting these requirements but exceeding them to future-proof the app against evolving regulations.

Key compliance takeaways:

Data privacy by design: Collect only the necessary data and ensure its encryption.

Regular audits and security assessments: Working with third-party security firms for penetration testing and vulnerability assessments.

User consent and transparency: Clear, user-friendly privacy policies that inform users about data collection and usage.

3. Two-Factor Authentication (2FA) is Non-Negotiable

Ensuring robust authentication mechanisms was a key aspect of the app’s security framework. Implementing two-factor authentication (2FA) significantly reduces the likelihood of unauthorized access to user accounts.

Lessons learned:

SMS-based 2FA isn’t foolproof: While SMS 2FA is better than none, it is susceptible to SIM-swapping attacks. Instead, app-based authenticators (like Google Authenticator) or hardware tokens provide stronger security.

Biometric authentication: Incorporating fingerprint or facial recognition for an extra layer of security without compromising user convenience.

4. Encryption is Essential Everywhere

Encryption played a pivotal role in protecting data both in transit and at rest. This included:

End-to-end encryption (E2EE) for communication between users and the app.

Tokenization: Replacing sensitive data like credit card numbers with tokens that have no exploitable value if compromised.

TLS (Transport Layer Security) to secure data in transit.

The lesson here is to ensure that encryption is applied wherever sensitive data is stored, processed, or transmitted.

5. User Education is Part of Security

Even the most secure fintech app can be compromised if users don’t understand basic security practices. Educating users on security best practices—like avoiding phishing scams, choosing strong passwords, and recognizing suspicious activity—goes a long way in preventing security breaches.

We learned that providing:

In-app alerts for unusual login attempts or transactions.

User training materials on security awareness.

Clear guidance on managing security settings and 2FA setup.

This not only protects the user but enhances their trust in the app.

6. Continuous Monitoring and Real-Time Alerts

After launching the app, continuous security monitoring became crucial to identifying and mitigating threats in real time. Setting up real-time alerts for suspicious activity helped prevent potential breaches before they escalated.

Lessons learned:

Automated monitoring systems: Tools like security information and event management (SIEM) systems help track unusual patterns of behavior.

Anomaly detection: Implementing machine learning algorithms to detect anomalies in transaction patterns, potential fraud attempts, and data breaches.

Incident response plan: Having a well-documented incident response plan in place to act swiftly if a breach does occur.

7. Secure API Integration

Fintech apps often rely on external APIs to provide additional functionality, such as payment processing, banking services, or KYC (Know Your Customer) verification. However, these third-party integrations can introduce vulnerabilities if not managed securely.

The key takeaways for API security:

Use of API gateways to control access and ensure secure communication between services.

Rate limiting to prevent denial of service (DoS) attacks.

Secure API authentication using OAuth 2.0 or OpenID Connect to ensure only authorized entities can access sensitive data.

8. Regular Security Audits and Penetration Testing

Security isn’t a one-time task; it requires ongoing effort. Regular penetration testing and security audits by internal teams or external security professionals were critical to uncovering vulnerabilities that could be exploited by attackers.

Lessons learned:

Routine security assessments to ensure the app remains compliant with the latest security standards.

Bug bounty programs: Incentivizing security researchers to find and report vulnerabilities before malicious actors do.

9. Handling Sensitive Data Minimally and Securely

Another important lesson was adopting a minimal data collection policy. By collecting only the necessary data, the attack surface is reduced, and regulatory compliance becomes more manageable.

Tokenization and pseudonymization of sensitive data, such as payment details, helped reduce the risk of exposure in the event of a breach.

Secure backup and disaster recovery protocols ensured that if a breach or data loss occurred, the app could recover swiftly without compromising data integrity.

10. User-Centric Security

Security needs to be robust, but not at the cost of user experience. Balancing user-friendly interfaces with strong security features was a critical part of the development process.

Seamless security processes: Ensuring that security steps, such as 2FA and password updates, were intuitive and not cumbersome for users.

Consistent updates: Providing regular app updates to address security vulnerabilities, while ensuring a smooth user experience.

Outcome

Developing a fintech app with security as a priority requires a deep understanding of the threats facing the financial sector and a commitment to implementing best practices throughout the app’s lifecycle. The key takeaway from our experience is that security needs to be ingrained in every aspect of development, from design to deployment, and continuously monitored post-launch.

[isfeed]

10 suspects arrested in SIM swap scam, Toronto police say

Toronto police say 10 people are facing charges in connection with a major SIM swap fraud that allowed suspects to gain access to the cell phone and bank accounts of unsuspecting victims. Source: CP24 10 suspects arrested in SIM swap scam, Toronto police say

[jaagrukbharat]

SIM Swapping & SIM Hijacking : Protect Yourself From This SIM Card Scam

SIM fraud is probably the most common kind of fraud happening today. Most people use their mobile phones, which makes it easy to influence somebody's life by using electronic means. The same applies to SIM card fraud.

[mostlysignssomeportents]

This day in history

#20yrsago Charlie Stross on mini-PCs http://www.antipope.org/charlie/blosxom.cgi/2003/Aug/3#ukuug-1

#10yrsago Iranian government unveils finger-amputating machine for punishing “thieves” https://www.telegraph.co.uk/news/worldnews/middleeast/iran/9831727/Iran-unveils-finger-amputating-machine-for-use-on-thieves.html

#10yrsago Colorado lawmakers’ license plates exempt them from speed cams & parking tix https://consumerist.com/2013/08/02/colorado-lawmakers-have-magical-license-plates-that-prevent-them-from-getting-tickets/

#10yrsago My workflow in the WSJ https://www.wsj.com/articles/SB10001424127887324354704578635792701857784

#5yrsago Audible puts the screws to indie authors https://web.archive.org/web/20180817070240/http://www.scottcarney.com/2018/08/acx-the-good-the-bad-and-the-ugly/

#5yrsago Googlers revolt against Google’s secret plan to offer censored search tools in China https://theintercept.com/2018/08/03/google-search-engine-china-censorship-backlash/

#5yrsago How the NYPD recriminalized marijuana after the state decriminalized it https://www.nytimes.com/2018/08/02/nyregion/marijuana-police-nyc.html

#5yrsago How Jpay gouges prisoners’ families for “digital postage stamps” https://www.wired.com/story/jpay-securus-prison-email-charging-millions/

#5yrsago Listen: ZZTop’s “Legs” and U2’s “Streets Have No Name” are the same song https://www.youtube.com/watch?v=cBYQ7cMJhkQ

#5yrsago Fraudsters offers thousands to low-waged telco employees for help with SIM Swap scams https://www.vice.com/en/article/3ky5a5/criminals-recruit-telecom-employees-sim-swapping-port-out-scam

#5yrsago Border family separation isn’t “zero tolerance” — CBP looked for parents to charge so they could kidnap kids https://theintercept.com/2018/08/03/zero-tolerance-family-separations-trump-immigration-family-separation/

I’m kickstarting the audiobook for “The Internet Con: How To Seize the Means of Computation,” a Big Tech disassembly manual to disenshittify the web and bring back the old, good internet. It’s a DRM-free book, which means Audible won’t carry it, so this crowdfunder is essential. Back now to get the audio, Verso hardcover and ebook:

https://www.kickstarter.com/projects/doctorow/the-internet-con-how-to-seize-the-means-of-computation