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Investigators Replicate Nokia 1100 Online Banking Hack

Investigators Replicate Nokia 1100 Online Banking Hack

An old candy-bar style Nokia 1100 mobile phone has been used to break into someone’s online bank account, affirming why criminals are willing to paying thousands of euros for the device.

Using special software written by hackers, certain models of the 1100 can be reprogrammed to use someone else’s phone number and receive their SMS (Short Message Service) messages, said Max Becker, CTO of Ultrascan Knowledge Process Outsourcing, a subsidiary of fraud investigation firm Ultrascan. The Nokia 1100 hack is powerful since it undermines a key technology relied on by banks to secure transactions done over the Internet.

Banks in countries such as Germany and Holland send a one-time password called an mTAN (mobile Transaction Authentication Number) to a person’s phone in order to allow, for example, the transfer of money to another account.

URL: http://www.hackinthebox.org/index.php?name=News&file=article&sid=31408

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