A SIM Swap Scam occurs when fraudsters convince mobile carriers to transfer a victim's phone number to a new SIM card they control. This allows them to intercept calls, texts, and bypass two-factor authentication security measures.
Key Methods
- Social engineering carrier staff
- Using stolen personal data
- Exploiting insider threats
- Bribing carrier employees
- Hacking carrier systems
Target Areas
- Banking applications
- Cryptocurrency accounts
- Email accounts
- Social media profiles
- Financial services
Warning Signs
- Sudden loss of cell service
- Failed authentication codes
- Unexpected password resets
- Unauthorized account access
- Unrecognized logins
Prevention Measures
- Strong account security
- PIN/password protection
- Alternative 2FA methods
- Account activity alerts
- Identity verification
Protection Steps
- Use authentication apps
- Enable account notifications
- Monitor account activity
- Contact carrier immediately
- Report suspicious activity
SIM Swap Scams are particularly dangerous as they bypass traditional two-factor authentication. Using non-SMS based authentication methods is crucial for protection.