Verizon subsidiary pays $16 million after three data breaches left subscribers vulnerable to attacks

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Verizon subsidiary pays $16 million after three data breaches left subscribers vulnerable to attacks
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. The company was charged the penalty following an investigation into three separate data breaches that occurred between January 2021 and January 2023. The first one was discovered in December 2021 and resulted in numerous attempts by the attackers to transfer customer phone numbers to other carriers without the permission of the subscribers whose phone numbers were involved.

Port-out fraud is similar to a SIM swap. The latter attack involves the criminal asking for and receiving a SIM card attached to a subscriber's account by pretending to be the customer wither on the web or via a phone call with the wireless company. Once the new SIM card is sent to an address given by the thief to the carrier, the requested SIM is placed in the attacker's phone allowing him to hijack the customer's account.

The FCC also had TracFone agree to improve its defense against serious customer attacks via the aforementioned SIM swaps and port-out fraud. The company will also train employees on privacy and security matters.

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