Israeli Startup Targets Phone Scammers With New Biometric Trap

This article was first published by The Times of Israel and is re-posted with permission.

Online fraudsters are getting smarter by the day. As soon as banks and financial institutions smoke them out, they find new ways to outsmart the system.

One noteworthy case happened a year ago in the UK when a woman got a call from someone saying they were from her mobile phone provider and telling her she was late with her payment. The woman used her debit card to pay the 60 UK pounds she was told she owed.

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Five minutes later, she got a call from the fraud team at her bank telling her she had been scammed. Because her debit card was linked to her bank account number, they said, it was advisable to move her money into a new bank account.

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