Nokia model 1100 being used for hacking

A firm represent considerable authority in extortion examination has affirmed the bits of gossip encompassing the Nokia 1100's capacities to hack through bank exchanges.

The Ultrascan organization has given a presentation that exhibits how programmers can reinvent that specific model of Nokia cellphone to get other individuals' SMS (Short Message Service, also called instant messages), which could bring about genuine repercussions to ledger holders from Holland and Germany.

That is on account of German and Dutch banks use SMS to permit their customers to do keeping money exchanges.

Simply put, Ultrascan has proven that the Nokia 1100 has a component that enables a very powerful hack that could let Internet swindlers hijack SMS delivered by banks that permits banking transfers. These European banks follow a simple verification process wherein a password (the mTAN or the mobile Transaction Authentication Number) is sent to account holders through a text message order form that permits them to make money transfers over the phone.

Nokia 1100 has a vulnerability in the software

It allows attackers to abuse it to make anonymous calls.

Ultrascan is the first company to establish that Bochum-manufactured Nokia 1100 cellphones are capable of doing very potent and financially crippling SMS hacks.

Nokia itself maintains that its firmware has no flaws or exploitable vulnerabilities that will allow online banking frauds.

Many of its customers wish that the Finnish phone company's claims are correct.

However, the fact that the $100 phone is currently being sold for $32,000 underground doesn't bode well to these people's hopes.

Nokia 1100 cellphones are made with a particular material and unique specifications in Bochum, Germany because they're the only model that can capture another person's number. In Ultrascan's demonstration of the Nokia 1100's capabilities, they reprogrammed the cellphone to intercept the text messages from other mobile phones during a simulated bank heist.
The good news is that hackers are incapable of taking advantage of this unexpected and illegal benefit if they don't know the name and password of their designated targets. However, if they can manipulate something as harmless as a cellphone to pilfer SMS, then it won't be a problem for them to acquire the personal data of their would-be victims as well.

They'll probably use phishing scams and the like to acquire key information from their marks first, and then go from there.