The U.S. Federal Communications Commission (FCC) is taking decisive action to counteract the rising threat of SIM-swapping attacks and port-out fraud within cell phone account scams. These fraudulent activities expose consumers to risks such as unauthorized access to personal data and the compromise of sensitive information.

The new rules, initially proposed in July 2023, mandate wireless providers to implement robust authentication measures before allowing the redirection of a customer's phone number to a new device or service provider. This proactive approach is aimed at preventing malicious actors from covertly swapping SIM cards or transferring phone numbers to different carriers without the legitimate user's knowledge or consent.

One critical component of the FCC's initiative is the requirement for immediate and real-time notifications to customers whenever a SIM change or port-out request is initiated on their accounts. This empowers users to take prompt action and implement additional security measures to safeguard their accounts against potential unauthorized access.

The urgency of these regulations is underscored by the increasing prevalence of SIM-swapping attacks, which have been exploited by threat actors like LAPSUS$ and Scattered Spider to infiltrate corporate networks. The malicious transfer of a user's account to a SIM card controlled by the attacker provides them with the ability to intercept SMS-based two-factor authentication codes, potentially leading to the takeover of victims' online accounts.

Simultaneously, the FCC is embarking on an inquiry to assess the impact of artificial intelligence (AI) on robocalls and robotexts. While acknowledging the potential benefits of AI in enhancing analytics tools to block unwanted calls and texts, the FCC also recognizes the risks, such as the potential misuse of AI technology to deceive consumers through calls and text messages, including the mimicry of voices of public officials or other trusted sources. This dual approach demonstrates the FCC's commitment to addressing evolving challenges in telecommunications security and privacy.

Source: https://thehackernews.com/2023/11/fcc-enforces-stronger-rules-to-protect.html