Beware the SIM-lifters
SOPHOS: Fraudsters capitalize on SIM swapping.
Getting a sim card is something almost everyone has done. if you’ve ever misplaced your phone or your sim card, you'll know that the process of getting a replacement sim is effortless, otherwise known as sim swapping.
According to sopHos, scammers are now taking advantage of this very process through phishing tactics or impersonating the telco to get you to verify your personal details. once that is done, they can impersonate you and call up the service provider to request for a replacement sim. After verifying their (read: your) authenticity, your current sim will become inactive, while they gain your phone number.
What happens if you have been compromised? The identity thief may change your account details, so if you try to contact the telco to inform them that your security has been jeopardized, it most likely will not work. once they intercept your sim, the scammers may use your bank details to make purchases that will be billed to you, or worse – drain your account completely.
What we can do to protect ourselves from sim swapping frauds is to always be cautious. if you get a suspicious call, email, or text from someone claiming to represent your service provider, do not divulge your details. instead, contact your service provider to verify the suspicious call that you received.
if you receive endless calls from an unknown party, ignore those calls instead of turning your phone off. it could be an attempt by the scammers to distract you, while attempting to mess with your connection. investing in an anti-virus solution works too. Lastly, be wary of what you post on social media, as the information could be used to answer security questions.