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Mobile phone account takeover fraud
Posted on Mar 9, 2008 by Tom Fragala
Bob Sullivan, in his popular Red Tape Chronicles blog, has a story about someone who has his cell phone account taken over. This is what we call "existing" phone/utility account fraud (aka account takeover). Many folks think poo-poo this kind of fraud, or assume the creditor will always wipe off fraudulent charges because you are a customer. This is not the case, and it is why we support both existing credit card and phone/utility fraud in MyTruston.
In this case, someone got access to the guy's Sprint cell phone account and added 14 cell phone, change personal information, and even extended the contract. Here is the zinger: this account takeover was easier than opening a new account (which requires a SSN), just as lucrative, and harder to prosecute/investigate. It's no joke. Last year when I got nailed with ID theft, it was via an existing credit card account.
It is possible the fraudsters in the Red Tape article got access to the account via the mail (stealing a statement). So this is an argument for getting your statements online and checking them regularly. And get a locking mailbox if you don't have one--if it is at all possible. The local hardware store here has them for $150 plus $60 for a mounting post.
Filed under: Identity Theft, Tips
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