How do sim swapping scams work?
How do SIM swapping scams work? Thanks for asking. Most of us have our smartphones on our person more or less all day, every day. Our photos, payment methods and a lot of personal data are stored on them. So we're all wary of the risk of having them stolen when out in public. But did you know there's another way someone can take control of your phone line without you even losing the device?
It's called SIM swapping, and while it's not new, it's been on the rise in recent years. According to the FBI, Americans lost a combined $68 million to SIM swapping scams in 2021. One of the most high-profile examples saw Twitter founder Jack Dorsey fall prey to it in 2019.
It actually involves having a victim's mobile phone number transferred to a new SIM card, which is of course in the hands of the scammer or scammers. And what's more, it's usually customer service representatives from the victim's own mobile network who actually make that fateful transfer.
SIM swapping fraudsters do their research prior to contacting the network to falsely claim that the SIM card has been lost or stolen. They'll have acquired personal information about their target through phishing emails or calls, or by buying it on the dark web. They may also browse the victim's social media accounts to collect information which may help them put on a convincing impersonation.
You know, your mother's maiden name, your first school, or your favorite sports team. the kind of information that might be one of your security answers with your mobile provider. Once scammers get access to your phone number, they can use it for double-authentification, which often relies on receiving a single one-time code by text message.
It could be when making a payment online, for example, or logging into the victim's bank, email or social media accounts. You might be thinking it still sounds like a long shot. Surely your mobile network is smart enough not to fall for something like that.
Well, researchers at Princeton University put that to the test in 2020 and found that they were able to successfully sim swap in 39 out of 50 attempts. How can I avoid falling victim to sim swapping? It's important to look out for telltale signs that something might be up with your mobile line, like not being able to use your number all of a sudden for no apparent reason.
Unusual activity on social media or in your bank account could also be down to SIM swapping. We've got a few tips to stay safe, which you may want to share with any of your less tech-savvy family members or friends too. First of all, where possible, avoid using text messages for double authentication.
An app like Google Authenticator is much more secure and it's not connected to your phone number in any way. You should also exercise common sense when surfing the web. Don't click on links from people you don't know and don't share any sensitive information by email. You should avoid putting too much personal info on social media too and make sure your profiles are private rather than public.
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