Account-Take-Over.
Account registration fraud in mobile identity refers to the practice of creating fake or fraudulent user accounts through mobile devices. This type of fraud can happen in various ways, some examples include:
SIM swap fraud: This type of fraud involves tricking a mobile carrier into transferring a phone number to a new SIM card, which is then used to gain access to the victim's mobile account and reset login credentials.
We usually detect this type of fraud by calling the carrier networks to obtain information about the SIM event changes such as SIM Swap detection or Mobile Number portability
Device spoofing: This type of fraud involves creating a fake mobile device or SIM card to gain access to a mobile account.
Social engineering: This type of fraud involves tricking people into giving away personal information or money through various tactics such as phone, email, or in-person scams.
These types of fraud are becoming more prevalent as mobile identity verification becomes more common. Mobile carriers, mobile application developers, and financial institutions that use mobile identity need to have robust security measures in place to protect customers from these types of frauds. These can include multi-factor authentication, real-time monitoring and detection systems, and account lockout mechanisms.