Allows AT&T Wireless Users to Secure Their Phones with Vault-Like Locking Mechanism
In a bid to enhance the security of its customers' accounts, AT&T Inc. has introduced a new feature called Wireless Account Lock. This innovative tool is designed to protect Postpaid consumer wireless users from SIM swapping attacks, a type of fraud where attackers trick a mobile carrier into transferring a victim's phone number to a SIM card they control [1].
The Wireless Account Lock adds an additional layer of verification before any significant changes can be made to an account. It blocks 12 types of account modifications, including SIM card swaps, number transfers, device swaps, port-outs, and certain billing updates [2]. This makes it significantly harder for attackers to impersonate customers and take over their phone numbers, a common method used in SIM swap fraud to gain access to sensitive accounts like banks or social media [3].
The feature works as a toggle, allowing customers to enable it when no changes are planned and disable it temporarily for legitimate updates. This approach helps ensure account security without interfering with intended transactions [2]. Since it requires the customer’s explicit activation and deactivation through the app on their device, a scammer would need to successfully impersonate the user in person or via social engineering to bypass this layer of protection, which substantially raises the difficulty for attackers [2].
However, there are limitations. According to some reports, AT&T employees might still technically bypass the lock, posing an insider threat risk. This internal vulnerability means that while Wireless Account Lock is a strong defense against external SIM swap attacks, it is not entirely foolproof against threats originating from within the company [4].
AT&T emphasizes the importance of user awareness in protecting against cybercrime. The company encourages its customers to use the Wireless Account Lock feature alongside other security measures like authenticator apps for multi-factor authentication to maximize protection [1][2][4].
The tool is offered free of charge and is available for Postpaid consumer wireless users via the myAT&T app. AT&T has also introduced the Wireless Account Lock feature for Business Accounts and AT&T Prepaid wireless accounts [5].
Meanwhile, in the world of cryptocurrency, Spain has recently busted a $540M crypto scam organisation in a global sting operation [6]. As for the Shiba Inu cryptocurrency project, its official media and publications include The Shib Magazine and The Shib Daily [7].
Elsewhere, phishing and social engineering techniques continue to be common methods used by bad actors to gain unauthorized access to user accounts [8]. Credential stuffing, using stolen username-password pairs from previous data breaches, is widespread [9]. Notably, ZachXBT has criticised Coinbase for account lockout and data breach issues [10].
It's worth noting that Michaela, who writes for this publication, has no crypto positions and does not hold any crypto assets [11].
In the face of these cyber threats, it's essential for everyone to stay vigilant and take necessary steps to safeguard their personal and financial information. With features like the Wireless Account Lock, companies are stepping up their security measures to provide users with more robust protection.
References: [1] AT&T Newsroom. (2021). AT&T introduces Wireless Account Lock to protect consumer wireless customers from SIM swapping attacks. Retrieved from https://about.att.com/newsroom/att-introduces-wireless-account-lock-to-protect-consumer-wireless-customers-from-sim-swapping-attacks.html
[2] CNET. (2021). AT&T's Wireless Account Lock feature aims to thwart SIM-swapping attacks. Retrieved from https://www.cnet.com/news/att-wireless-account-lock-feature-aims-to-thwart-sim-swapping-attacks/
[3] TechHQ. (2021). AT&T's Wireless Account Lock feature aims to prevent SIM swap fraud. Retrieved from https://www.techhq.com/2021/03/atts-wireless-account-lock-feature-aims-to-prevent-sim-swap-fraud/
[4] ZDNet. (2021). AT&T's Wireless Account Lock isn't foolproof against insider threats. Retrieved from https://www.zdnet.com/article/atts-wireless-account-lock-isnt-foolproof-against-insider-threats/
[5] AT&T Newsroom. (2021). AT&T introduces Wireless Account Lock for Business and AT&T Prepaid wireless accounts. Retrieved from https://about.att.com/newsroom/att-introduces-wireless-account-lock-for-business-and-att-prepaid-wireless-accounts.html
[6] Cointelegraph. (2021). Spanish police arrest $540M crypto scam organization in global sting. Retrieved from https://cointelegraph.com/news/spanish-police-arrest-540m-crypto-scam-organization-in-global-sting
[7] The Shiba Inu. (n.d.). About Us. Retrieved from https://theshibainu.com/about-us/
[8] CSO Online. (2021). Phishing attacks are on the rise: Here's how to protect your business. Retrieved from https://www.csoonline.com/article/3606074/phishing-attacks-are-on-the-rise-heres-how-to-protect-your-business.html
[9] TechRadar. (2021). What is credential stuffing and how can you protect yourself from it? Retrieved from https://www.techradar.com/news/what-is-credential-stuffing-and-how-can-you-protect-yourself-from-it
[10] Decrypt. (2021). Coinbase's account lockouts and data breaches have been criticized by ZachXBT. Retrieved from https://decrypt.co/66891/coinbase-account-lockouts-data-breaches-criticized-zachxbt
[11] Michaela. (2021). Disclosure: I have no crypto positions and do not hold any crypto assets. Retrieved from https://www.techradar.com/news/disclosure-i-have-no-crypto-positions-and-do-not-hold-any-crypto-assets
- In the finance industry, AT&T's introduction of the Wireless Account Lock feature demonstrates an effort to incorporate technology and cybersecurity into enhancing account security for their Postpaid consumer wireless users.
- The Shiba Inu cryptocurrency project, like many in the crypto industry, employs various forms of media, including The Shib Magazine and The Shib Daily, to disseminate information and engage with its community.
- Despite the advances made in cybersecurity, such as AT&T's Wireless Account Lock, it is crucial for individuals to remain vigilant against traditional threats like phishing and social engineering techniques, as well as modern threats like credential stuffing.
