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Patent Pending | GB 2403018.1 and US 19/067196
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- SIM Swap - CAMARA
SIM Swap - CAMARA
Integrate real-time SIM card activation checks to enhance security and prevent fraud.
Overview
Prevent fraud by reducing the risk of account takeover
In a nutshell
The SIM Swap API performs real-time checks on the activation date of a SIM card on the mobile network. It reveals if an individual mobile line has been ported to another SIM card.
The SIM Swap API is useful to prevent fraud by reducing the risk of account takeover fraud by strengthening SIM-based authentication processes such as SMS One-time passwords. Fraudsters use SIM swap techniques to intercept SMS messages and reset passwords or receive verification codes that allow them to access protected accounts.
Use Cases
- Fraud prevention in banking: A bank may query the API when a transaction appears suspicious. The SIM swap information feeds into the bank risk decision engine and security measures are applied accordingly by the bank. Also, strange behaviors or accumulation of SIM Swap notifications may help banks detect fraud scenarios in advance.
- Fraud prevention for password reset(various sectors: e-commerce, social networks, etc.): Password reset is often protected via a mobile verification e.g. One Time Password SMS. The online service provider may query the Sim Swap API to secure the mobile verification. A recent SIM swap may indicate a risk of account takeover fraud and the service provider can adapt the security measures accordingly.
Benefits
- Prevention of fraudulent activities: The Sim Swap API helps businesses detect and prevent unauthorized SIM swap attempts, a common method used in account takeover fraud. By identifying changes in a user’s SIM card status, the API provides an additional layer of security for sensitive transactions and account access.
- Enhanced security for user accounts: This service ensures that only legitimate users can access their accounts or authorize transactions by verifying that the mobile line has not been compromised. This reduces the risk of unauthorized access and protects both users and businesses from potential breaches.
- Seamless integration for risk management: The Sim Swap API can be easily integrated into existing systems to provide real-time insights into SIM changes. This allows businesses to incorporate it into their risk assessment processes, enabling proactive responses to suspicious activity without disrupting user experience.
- Improved trust and user confidence: By safeguarding user accounts against SIM swap fraud, businesses can build trust with their customers. Users benefit from knowing their accounts are protected, which enhances satisfaction and loyalty while reducing the likelihood of service abandonment due to security concerns.