Category: News

JT has partnered with Sky Mobile, voted Uswitch Best Pay Monthly and Best Value Pay Monthly network, to provide additional security for its millions of customers when carrying out financial transactions on their mobile device.

By partnering with JT’s Fraud Protection Services (FPS) Sky Mobile can help UK Banks’ fraud detection systems to query valuable network information, providing an extra level of security to Sky Mobile’s customers against SIM swap fraud. Criminals use SIM swap fraud to gain access to bank accounts by hijacking one time pass codes sent to mobile phones.

Once triggered by the bank, JT’s system, in conjunction with Sky Mobile, can carry out a seamless background check to verify whether the SIM has been swapped on the customer’s phone, a key indicator of potential fraud and prevents criminals from stealing customers’ identities.

By working with mobile and virtual network operators globally, JT’s Fraud Protection Services provides the broadest coverage possible to prevent criminals from stealing customers’ identities. The service is already widely used by banks and businesses throughout the UK and around the world, providing additional security and peace of mind.

Clare Messenger, Head of Fraud Protection Services at JT, said: “SIM Swap Fraud is on the rise around the world and on average a customer loses £2,500 when a successful fraud is carried out. JT’s Fraud Protection Services provide an enhanced level of security when customers are making payments or using other sensitive information. What’s different about JT’s FPS platform is that it takes away the complexity of using multiple arrangements with mobile operators to create a single system to quickly verify transactions. We are delighted that our innovative services have been trusted by a leading brand like Sky Mobile to provide that extra confidence that their customers are protected against this type of fraud.”

Paul Taylor, Managing Director, JT International said: “The pandemic transformed our world in so many ways and one of those was increasing our reliance on using mobile phones to access the internet as part of our everyday lives. Fraudsters saw opportunities to use sophisticated techniques to target system vulnerabilities and we at JT International have been working hard to provide the necessary extra layers of protection to identify and prevent potential fraud.”

Paul Sweeney, Managing Director, Sky Mobile said: “With SIM swap fraud on the rise, it’s important to us that Sky Mobile customers are kept safe, which is why we’ve partnered with JT FPS to provide them with an additional level of protection and peace of mind.”

JT’s innovative Fraud Protection Services combines data and technology in the fight against fraud and financial crime, saving businesses and their customers millions as fraudsters step up their attempts to breach accounts.

Although stricter online security measures are making it harder for criminals,  the compromise of personal and financial data remains a significant problem for many businesses as they seek to protect their customers from scams.

There has been a worldwide increase in SIM card fraud – an account take over, where control is transferred from a genuine SIM card to one controlled by criminals. To combat this JT International developed a detection service, now widely used by international banks and leading businesses in the UK and around the world,  giving them the ability to automatically check if the identity of the person attempting to make a transaction is genuine.

One bank that’s using JT’s Fraud Protection Service (FPS) says the advanced technology is preventing an estimated loss of $100,000 every time a SIM swap fraud is detected.

By working with mobile network operators around the world, JT’s Fraud Protection Services is preventing criminal gangs from targeting call centres in their attempts to steal customers’ credentials to buy goods, access bank accounts or move and transfer money.

Clare Messenger, Head of Fraud Protection Services at JT, said: “Fraud is on the rise and with people more reliant on digital and mobile phone services, criminal organisations have been quick to exploit certain weaknesses. One such weakness identified as a prime area where account takeovers can occur is within call centres, a facility that is seen in many industries. At JT we have built strong relationships with network operators globally which means we can use our unique Fraud Protection Service to check customer credentials in milli-seconds, giving our customers peace of mind that their customers are swiftly protected without any drop in customer experience – a seamless, yet reassuring service.”

Paul Taylor, Managing Director, JT International said: “JT is well known for creating innovative products and services, and for some years now we have been building up our Fraud Protection Services, becoming the ‘go to’ partner for many leading finance houses and other service providers around the world. Fraud crosses all sectors, using real-time checks can speed up the time it takes to onboard customers, identifying possible problems while fast-tracking those that have passed the checks.  Our services can also be used throughout the lifecycle of a customer, continuing to provide ongoing insight that will help combat fraud.’’

05/29/2020 08:05:11