Virgin Media O2 expects its new solution to block £6 million worth of fraudulent handset orders every year
UK carrier Virgin Media O2 recently announced that since August, it has been using a new fraud prevention technology, which it expects will prevent more than £6 million worth of fraudulent handset orders every year.
The new solution was designed to combat a type of fraud called"Account Takeover," in which bad actors hack a customer's online account and acquire access to their phone number. From there, hackers either intercept messages — like password reset messages from the victim's bank — or order expensive devices through the stolen account, which then get taken by organized gangs.
Virgin Media O2's new technology uses additional security checks and artificial intelligence to detect signs that an O2 mobile upgrade order is fraudulent. Furthermore, it has sophisticated behavioral analysis that identifies and blocks suspected fraud attempts, thus locking the hacked customers' accounts. As the carrier explained, this way, the victims of the attacks won't end up being billed for the ordered devices.
If you want to learn more about how you can protect yourself from becoming a victim of fraud, you can visit Virgin Media O2’s, where the carrier offers resources, top tips, and advice that will help you become more vigilant. But hey, if you are looking to make a completely legitimate phone purchase, it's a good time to check out our best
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