Cyber Security Issues For The Mobile Industry

The widespread availability of spyware, and international scandal over the  technology being used to intercept and monitor supposedly secure communications platforms is combining with growing concerns of the security of 5G network technology to undermine confidence in the mobile industry.

More and more mobile users are aware that their smartphones and the networks that they rely upon are a lot more vulnerable than they thought. 

Against this backdrop, Members of the Board of Directors at The Mobile Ecosystem Forum were asked to consider cyber security issues and share their predictions for the mobile industry in 2023.

 

Verifiable Credentials Will Gain Major Traction

In 2023 we will see the use of Verifiable Credentials start to gain real traction. It's the next generation of digital identity in which people keep their identity information in their own personal digital vault rather than it being managed by a third party. 

The important thing for the industry to keep in mind is that everything about transactions will be standardised by brand new World Wide Web Consortium (W3C) standards. So, the key to this is not the technology but the W3C standards. 

However, as the technology converges around this issue, we will see some great solutions that will create a new layer of trust around verified credentials. This will benefit everyone, especially those in developing countries where bank accounts and documentation are less common. With trusted verified credentials, people in these regions will suddenly be able to access a whole range of services that were previously closed off to them. I think that’s going to be a real game-changer.  Contributed by Andrew Bud, CEO of iProov

IOT Security Standards Are Coming

With the increasing number and complexity of Internet of Things (IoT) devices and the amount of sensitive data they collect and transmit, security is a critical concern. Ensuring the security of IoT systems is essential both for protecting the privacy and safety of individuals and organisations, as well as maintaining the integrity and reliability of critical infrastructure.

Unfortunately, the industry is failing to self-regulate when it comes to IoT security. Paying a premium to enforce IoT security or standards isn’t profitable, so there is no incentive for device manufacturers to worry. As a result, regulators are currently grappling with the issue and, I expect, will be publishing legislation in 2023.

Manufacturers will need to address security issues by embedding measures such as encryption, authentication, access control, and vulnerability management into their IoT devices. So, prepare now!  Contributed by Dawood Ghalaieny, CEO of Zariot

Mobile Operators Offering New Identity Services

Currently, mobile operators are really struggling to find ways to grow their revenues beyond traditional services: voice, SMS and data. Yet, one asset mobile operators can monetise is mobile identity.

Over the coming year, I expect we will see a breakout of systems whereby enterprise can query mobile operators to verify a customer’s age, address, credit status, etc. This information is known and verified by mobile operators to establish a contract, and it is tied to a unique number: a phone number. So, phone numbers could become the unique identifier to verify all this information. 

It will be interesting to see how enterprise will take all those pieces of information and use it to formulate an opinion on a customer that can be used and monetised. It would make things much easier for customers - rather than filling out forms and completing Know Your Customer (KYC) data, they could simply link their mobile number. In turn, this would also be very helpful to businesses. Contributed by Jason Lunn is Global Connectivity, CPaaS at Cisco 

Preventing Fraud Will Become Essential

As the global technology market has grown, so too has a shadow economy of fake accounts. Robots set up fake accounts which are then served ads, draining advertising budget with no benefit. It’s also hard to estimate the size of this shadow economy - it could already be very big.

Telecoms operators play a key role in this economy. Take social media, for example. There are thousands of robots creating fake accounts, with lots of SMS being sent to activate and serve those fake accounts.

On the other side, mobile customers are receiving an unprecedented level of fraudulent phishing (or ‘smishing’ as we call it for SMS) messages with dangerous links.

To help combat these issues, a lot of organisations are currently working on more holistic, 360-degree solutions which would combine multiple data sources into a data pool to analyse and come out with intelligent identification of possible fraudulent transactions as soon as they're triggered.

By using artificial intelligence and machine learning for fraud prevention, organisations will be able to identify patterns immediately and flag off possible situations of fraud and phishing/smishing. They can then intercept these fraudulent or spurious links, displaying a landing page where a user is notified that it’s possibly a fraudulent page, similar to the warnings users get in the likes of Google Chrome. They will also, then, be able to track and block these fraudulent accounts more quickly, making fraud much harder to commit.  Contributed by Anurag Aggarwal is VP Partnership and Alliances at Tanla.

 

Dario Betti is CEO of the Mobile Ecosystem Forum 

You Might Also Read: 

Conversational Commerce Is Going To Be Big - But Could Be Risky:

____________________________________________________________________________________

If you like this website and use the comprehensive 6,500-plus service supplier Directory, you can get unrestricted access, including the exclusive in-depth Directors Report series, by signing up for a Premium Subscription.

  • Individual £5 per month or £50 per year. Sign Up
  • Multi-User, Corporate & Library Accounts Available on Request

Cyber Security Intelligence: Captured Organised & Accessible


 

« Building An Identity-First Security Strategy
Europol Arrest Crypto Currency Fraud Gang »

CyberSecurity Jobsite
Check Point

Directory of Suppliers

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

NordLayer

NordLayer

NordLayer is an adaptive network access security solution for modern businesses — from the world’s most trusted cybersecurity brand, Nord Security. 

Namogoo

Namogoo

Namogoo’s disruptive technology identifies and blocks unauthorized product ads that are injected into customer web sessions by client-side Digital Malware.

OnSystem Logic

OnSystem Logic

OnSystem Logic has developed a unique, patent-pending solution to solve the problem of the exploitation of flaws in application software as a technique for cyber attacks.

SAS Institute

SAS Institute

SAS is a leader in business analytics software and services providing solutions for a wide range of critical business areas including risk management, compliance and fraud prevention.

ngCERT

ngCERT

ngCERT is the National Computer Emergency Response Team for Nigeria.

Shieldfy

Shieldfy

Shieldfy is a cloud-based security shield for your website to protect it from cyber attacks and malwares.

Cyfirma

Cyfirma

CYFIRMA offers Cyber threat visibility and intelligence suite and services aimed at keeping your organization’s cybersecurity posture up-to-date.

Council of Europe Convention on Cybercrime

Council of Europe Convention on Cybercrime

The Council of Europe helps to protect societies worldwide from the threat of cybercrime through the Convention on Cybercrime.

InnoValor

InnoValor

InnoValor realises value from digital innovation for organisations and government. We provide advisory services and develop innovative software solutions, based on our background in research.

Wynyard Group

Wynyard Group

Wynyard Group is a niche, technology-driven company specializing in Integrated Border Security solutions for enhanced public safety.

Upfront Security

Upfront Security

Upfront Security helps companies with innovative products & services to prevent, recognise and recover from (identity) fraud.

META-Cyber

META-Cyber

META-cyber was founded by engineers with experience in process and control-protection to provide cyber security for industrial infrastructure.

Circle Security

Circle Security

Circle’s breakthrough security API unifies solutions for identity and data security into one architecture and empowers organizations to secure their identity, data and privacy in their applications.

MyTurn Career LLC

MyTurn Career LLC

Looking for a rewarding career in cybersecurity? Explore a wide range of cybersecurity jobs and opportunities in this rapidly evolving field.

PingSafe

PingSafe

PingSafe is creating the next-generation cloud security platform powered by attackers' intelligence, providing coverage for vulnerabilities that traditional security solutions would otherwise overlook

Aspiron Search

Aspiron Search

Aspiron Search is a niche-focused Cybersecurity search firm that works exclusively with venture-backed Cybersecurity firms.

CyberRey

CyberRey

CyberRey is a leading distributor of comprehensive cybersecurity solutions, empowering organizations of all sizes to thrive in the digital age.