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First-Of-Its-Kind SIM Swap Fraud-Thwarting Patent Awarded to Payfone

Payfone, a leading digital identity authentication company announced today that it has been awarded a first-of-its-kind patent for technology that detects and prevents SIM swap fraud, a social engineering scam that has been responsible for defrauding consumers and businesses out of millions of dollars. Criminals use this technique to bypass security measures like single-use PIN codes.

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