The Growing Threat of SIM-Swapping: What You Need to Know
As a cybersecurity journalist, I’ve seen my fair share of identity theft scams. But one particular threat has caught my attention lately: SIM-swapping. It’s a growing form of identity theft that’s more insidious than hacking into your email or social media account. In this case, thieves take over your phone number, and any calls or texts go to them, not to you.
Image: Mobile phone security
The consequences can be devastating. Criminals can use your phone number to receive text messages or calls to verify accounts, essentially locking you out of your own life. And with the rise of two-factor authentication, your phone number has become a single point of failure.
According to the FBI Internet Crime Complaint Center, SIM-swapping complaints have increased by more than 400% from 2018 to 2021, with associated personal losses estimated to be more than $68 million. But experts say these numbers are likely just the tip of the iceberg.
Criminals use personal information obtained through data breaches, leaks, dark web purchases, or phishing scams to impersonate their victims. They claim the original phone and SIM card were damaged, lost, or sold accidentally and ask for the number to be associated with a new SIM or eSIM card in their possession.
Image: Identity theft illustration
So, how can you prevent SIM-swapping? Prevention is the best form of protection, according to cybersecurity experts. Here are some habits to help keep you safe:
Use strong passwords that include letters, numbers, and symbols. The longer they are, the better. Consider using a password manager to keep track of your credentials.
Add biometrics or multifactor authentication apps and devices that do not involve texting. These methods often use separate login methods and encryption that are not tied to your phone’s identity, making them more difficult for criminals to access.
Contact your carrier to set up a unique passcode to prevent significant account changes such as porting phone numbers to another carrier.
Be cautious of phishing messages or emails that try to trick you into giving away your personal and financial information. Report any suspicious activity to your email provider or company’s information security team.
If you suspect you’ve been a victim of SIM-swapping, report it to your carrier and file complaints with the Federal Trade Commission or your state attorneys general. Inform your bank or credit card company and ask them to alert you to any suspicious activity.
Image: Protecting yourself from SIM-swapping
In conclusion, SIM-swapping is a growing threat that requires vigilance and proactive measures to prevent. By following these tips and staying informed, you can reduce your risk of falling victim to this insidious form of identity theft.
