SIM swapping is one of the most dangerous phone hacks - And it's on the rise
You might assume that the SIM card in your mobile phone is safe. After all, it is firmly embedded into your device, and someone would need to take it out physically to access it. But that isn’t the only method. Tap or click here for an in-depth look at SIM swapping scams.
SIM swapping is an old trick used by scammers to gain unauthorized access to your mobile phone. Not only do they have access to your number, but also all communication that it receives.
The FBI has been warning about SIM swapping schemes skyrocketing recently. Read on to find out what the FBI discovered and ways to protect your online accounts and finances.
Here’s the backstory
Criminals don’t need your physical SIM card to take over your phone. Instead, they can use social engineering or phishing attacks to gather information about you. Then they call your mobile provider, pretending to be you. They claim your phone has been lost or stolen and request your phone number be linked to a SIM card in their possession.
If successful, this process will also deactivate your SIM card. So, they have access to your number, but what else can they do?
Many online accounts, including banking apps, offer two-factor authentication (2FA). A SIM swap scam is extremely dangerous if you’ve set up 2FA for any of your accounts. Once the scammer has your phone number linked to a SIM card in their possession, they can get 2FA codes linked to your accounts sent to them.
Now they have access to your banking accounts, email addresses and even cryptocurrency accounts that you may own.
SIM swapping schemes are nothing new. But the FBI has recently noted an alarming increase. Between 2018 and 2020, the agency’s Internet Crime Complaint Center (IC3) received numerous SIM swapping complaints. In 2021, SIM swapping schemes cost victims more than $68 million.
Thankfully there are ways to stay protected.
How to stay protected from SIM sapping scams
With the number of SIM swapping schemes skyrocketing, the FBI gives the following suggestions on staying protected. Here are some precautions to take:
These 151 apps caught scamming millions of people
The Google Play Store for Android is stacked with applications for almost anything imaginable. Most of the apps are developed by programmers who want to make users’ lives easier or more enjoyable.
But then you have developers who want to cause misery and rip people off. Just because an application is available for download in the Google Play Store doesn’t mean that it’s harmless. Tap or click here to see how Apple made it easy to report App Store scams.
Protect your wireless account from hackers with this one step
Targeting large groups of people through phishing or email spam is a typical way cybercriminals make money. But some step it up a notch and go after large databases containing millions of user records.
In the last decade, plenty of companies have fallen victim to meticulously planned attacks. Hackers sometimes get access to millions of personal information files. They use the stolen data to rip people off by committing identity fraud and numerous other nefarious acts.
Netflix just raised its prices – Here’s how much
How many streaming services do you have subscriptions to? Three? Four? Even more?
There are so many great streaming options available these days that it’s hard to have just one. Whether it’s a music service like Pandora or Spotify Premium or streaming movie and TV platforms like Netflix or Disney+, we’ve got to have them all. Tap or click here to compare the subscription costs of each streaming service.
How fast is 5G? Understanding what it means to you
5G technology is about to start changing your life in drastic ways. You have been hearing that for months, but how can a faster internet speed change your life?
The fifth generation of wireless internet is about more than speed, but it starts there. It’s estimated that 5G will be many times faster than the 4G technology powering your smartphone.