Sim card swap
- Phone and fax
Scammers are using SIM swapping and phone number porting to gain access to your email, social media and financial accounts. From there, they can access your personal information and data.
With this information, they may:
- empty your bank accounts
- apply for credit in your good name
- impersonate you to defraud your entire contact list
In the meantime, you lose access to your mobile service, are typically locked out of all your accounts, and are left scrambling.
How it works
Your SIM card connects your phone number and mobile service to your mobile device. You connect dozens of your accounts to your mobile device through the use of applications. Most application logins are linked to your email address, phone number or both (if you setup two-factor authentication).
A fraudster will impersonate you to gain access to your mobile account and may claim that their phone has been lost or stolen. Your phone number will be linked to a new SIM and device that the fraudster controls.
The fraudster then downloads a series of the most popular and most attractive applications. They will select the 'Forgot Password' button on all applications. If an account is associated to your phone number or email address, the fraudster will receive a verification code. They will then use this code to confirm ownership of the account, create their own password and takeover the accounts.
- Date modified: