Mitigate 2FA SMS Fraud using Vonage APIs

The evolution of communications technology has brought numerous benefits to businesses that leverage these technologies, but it also creates opportunities for malicious actors to exploit changes in technological trends. One such example is the increase in SMS 2FA fraud, where fraudsters use Premium Rate numbers or virtual numbers created by them to route non-legitimate traffic through 2FA systems. To mitigate this type of fraudulent activity, businesses can implement various measures, including rate limiting and input validation. By checking a customer's mobile number against certain pre-set parameters, such as country codes or prefixes, businesses can prevent Premium Rate numbers from being used in the 2FA verification process. Additionally, using the Vonage Number Insights API to obtain information on a customer's mobile number can help identify potentially fraudulent numbers. Furthermore, contributing to robust routing data via the Vonage Conversion API can provide longer-term and more overarching mitigation against SMS 2FA fraud. By implementing these measures, businesses can reduce the risk of falling victim to this type of fraudulent activity.