This practice is called OTP fraud. Telecom Wholesales Carriers are aware, Mobile Network Operators are aware, but they all love it because this is an important revenue stream and even if they would be able to stop this fraud (which is impossible currently), they will never do it.

Ok, then the question is, what can be done?

Well, Authenticalls is a leading provider of comprehensive identity verification and authentication solutions. Leveraging 17 years of experience and extensive staff expertise, we offer a suite of services, including innovative FLASHCALL authentication, advanced biometric verification, and robust KYC/AML compliance solutions. Our technology empowers businesses to enhance security, prevent fraud, and streamline user experiences, all while reducing operational costs.

If people would use MFA/2FA or OTP and would not rely on credentials that are ever written down or memorized, these frauds would never happen. The accounts cannot be compromised with the 2FA enabled.

The best service available on the market and several times cheaper than the regular 2FA by SMS.