A paper called “Defend” Phone and Fraudsters’ Internet Accounts ”was recently released

A paper called "Defend" Phone and Fraudsters' Internet Accounts ”was recently released

Points Highlighted:

  • “Each year Australians lose millions of dollars from fraud, often facilitated through phone or internet services. Addressing fraud is becoming more critical as people increasingly use their phone and internet to access goods and services, manage their finances and verify their identity. This report shows that the detriment suffered by consumers who are targeted by fraudsters through their phone or internet account can be devastating.

  • Ensure account security processes are strong for high-risk transactions. Ensure consumers can quickly and easily report a potential security breach. Regularly review and update account security measures. Tips for consumers include: Make your phone or internet account as secure as possible
    Limit the amount of personal information available in the public domain
    Report any strange activity to your provider immediately
    Download the report here

“Telcos who have robust verification procedures and quick response times are more likely to prevent fraud from occurring and to limit detriment if a consumer does fall victim to fraud. And while these initiatives help to address some of the issues we found, both telcos and consumers must remain vigilant about the constantly evolving behaviour of fraudsters.

“The TIO’s systemic investigation powers means we can identify issues with the telco industry’s regular systems, processes or practices and issues that may cause harm to consumers. By investigating issues, raising awareness, and working with the telcos to make changes, we drive improvements in the delivery of phone and internet services. This leads to better outcomes for consumers and the telecommunications industry.” Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here. PayPal – The safer, easier way to donate online! Why? Tags:Australia, Download, fraud, identity, industry, Internet, investigation, Loss, Ombudsman, outcomes, Safety, security, telco, telecommunications, TIO

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