BlockAPT partners with Jersey Telecom to prevent SIM swap fraud //05.10.20
LORCA member BlockAPT (which is currently taking part in our fifth accelerator programme) has today announced a partnership with
JT (Jersey Telecom), which is the largest telecoms provider in the Channel Islands and operates in seven countries. The partnership will strengthen JT’s defences against sim swap fraud – when fraudsters gain access to sensitive bank details and financial information via a mobile phone account.
JT’s fraud protection services work with global mobile network operators to provide live network and device checks. These services run alongside JT’s IoT business, which provides cellular connectivity, remote management of devices worldwide and bulk messaging services for over 10 million SIMs around the world.
BlockAPT’s platform will connect into JT’s existing mobile fraud protection services and enhance its security infrastructure by providing one central security management platform. It will integrate seamlessly into JT’s fraud prevention engine and add a high layer of defence against fraud, information theft, denial of service and infiltration.
JT has put BlockAPT’s automated and continuous vulnerability assessment functionality in place to detect and provide alerts on critical flaws, allowing JT to carry out proactive incident response handling as soon as high-risk vulnerabilities are detected.
Commenting on the partnership, Marco Essomba, founder and CTO of BlockAPT, said: “Over the last 5 years we have seen SIM SWAP fraud generally rocket by over 400%. We are delighted and proud to work in partnership with JT using our unique Monitor, Manage, Automate and Respond (MMAR) framework with a defence-in-depth technical approach. We continue to provide added value to JT and its customers by blocking fraudsters from persistent and future attacks.”
Meanwhile Barna Kutvolgyi, managing director of JT International, said: “Smartphones have evolved from being a convenience to an essential part of everyday life. And each of these phones provides an access point into the sensitive areas of a person’s life, causing SIM swapping to soar. At JT we believe mobile network providers must play their part to help mitigate the risks of SIM Swap.
“By working with BlockAPT, we’ve strengthened our existing portfolio of services, enabling us to provide next-generation fraud protection services and the highest level of mobile security for our customers, delivering a complete, reliable and fully managed solution.”