SIM swapping is a type of cyberattack in which perpetrators deceive victims into transferring their phone number to a SIM card under their control so they can intercept security codes, calls, and texts.A SIM swapping attack is a type of account takeover where fraudsters ask a mobile carrier to replace their SIM card. This allows them to intercept calls or SMS on their own device, including one-time passcodes (OTPs) and links to reset passwords. The attacker can then access the victim’s accounts and commit banking fraud by taking advantage of SMS-based Two-Factor Authentication (2FA).Phishing attacks, in which cyber criminals pose as reputable businesses or individuals in an attempt to obtain your private information, are frequently the first step in SIM changing.Attackers pose as users when personal information, like names, addresses, and Social Security numbers, is leaked. They trick customer support representatives into thinking they are the account holder.Never respond to calls, emails, or texts requesting personal information; always set up a PIN or password with your mobile service provider; and choose a strong, one-of-a-kind password for critical financial or personal accounts in order to prevent SIM card swapping attacks.
