New FBI Warning details how you can protect yourself from “SIM Swapping”
Another cellphone scam is making its way into our day-to-day lives. The FBI has released a warning that a new scam called “SIM swapping” could compromise your phone.
With “SIM swapping”, cybercriminals can steal money from fiat and virtual currency accounts. There are several methods a hacker can use to carry out this type attack to gain sensitive information off your phone:
Social Engineering: An attacker will impersonate the target and fool your mobile carrier into switching your phone number to a SIM card owned by the criminal.
Insider Threat: An attacker will pay off someone at your mobile provider to switch your phone number to their SIM card.
Phishing: An attacker will trick an employee at your mobile carrier into downloading malware that allows them to hack mobile carrier systems and perform SIM swaps.
If a cybercriminal is successful in their attempt to conduct a SIM swap, all of the victims’ calls, texts and other data is diverted to them. Soon enough, the thief will have access to most of your private information.
According to the FBI, the number of SIM swapping scams have skyrocketed. Last year alone, the FBI Internet Crime Complaint Center received 1,611 SIM-swapping complaints with adjusted losses of more than $68 million. To put this figure in perspective, from January 2018 to December 2022, there were only 320 complaints that amounted to approximately $12 million.
The FBI has released a list of steps you can take to avoid falling victim to SIM swapping:
Avoid talking about your financial assets on social media websites and forums. Never post personal information online, including your phone number or address.
Do not give your mobile number account information to those who call and request your account password or pin.
Never use the same password for more than one account.
When you access accounts online, use techniques and tools that boost your privacy, such as biometrics, physical security tokens and standalone authentication applications.
Avoid storing passwords, usernames or other information on mobile device applications.
Story via MoneyTalksNews
