SIM swapping is one of the growing frauds circulating in the world nowadays. It is a cybercrime activity in which attackers take control of the victim’s phone number under their duplicate SIM card. They easily get access to phone calls, text messages, one-time passcodes (OTP), and confidential information of the victim, including emails, bank accounts, and their social life.
“In 2021, the FBI reported 1,611 SIM-swapping incidents, which cost victims $68 million in losses.”
Source: Eclypses
It’s an alarming threat that tells you your personal information is at risk. Such phishing tactics outdate typical SMS-based security mechanisms, creating major hazards.
But what if you fall victim and don’t know how to prevent SIM swapping?
To safeguard you from SIM swapping, we have covered the signs and preventive measures to protect your accounts and personal information.
How to Tell if You’ve been SIM Swapped: Signs (200 words)
Identify the signs below to detect if you fall victim to SIM swapping.
1. Loss of Service: The most common sign of a SIM swap is suddenly losing phone service. This means you are not able to make or receive calls or text messages. Simply, your SIM card has fraudsters.
2. Inability to Access Accounts: The main objective of the attackers is to get two-factor authentication codes, which are usually sent to your SIM for verification. Once you are logged out of your accounts, then it is the red flag of a SIM swap attack.
3. Unauthorized and Strange Notifications: If you are receiving messages that you have never requested or it says that you have logged into another device. It’s a clear indication that someone is poking their nose into your privacy
4. Unusual Posting on Your Social Media: If you notice posts from your social media account that you have never posted, a SIM swap attacker may have taken control of your accounts.
5. Mischievous Transaction: Watch for suspicious financial transactions as scammers silently slide into your SIM cards and deplete your accounts. Keep your eyes on your bank transactions, especially connecting to your account.
How to Prevent SIM Swapping Attacks?
SIM swapping attacks can be avoided by taking some early steps to secure your accounts. Learn how to prevent SIM swapping attacks below:
1. Secure Your SIM Card
Choose your SIM card wisely, which lets you enhance the security of your SIM. Security may be enhanced by setting unique passwords, PIN codes, one-time passcodes (OTP), and security questions asked when you want to make changes to your account.
2. Avoid Sharing Personal Information
SIM swap attackers trap phone carriers by sharing your confidential information to check mark security question barriers. They steal your personal information through your social media or by sending phishing emails and links that contain malware. Phishing Emails, text messages, and links containing malware are the most common ways to install malware on the victim’s device.
3. Strong and Unique Passwords
Strong and unique passwords are the most effective way to keep your personal information confidential. Make sure that your passwords are complex and difficult to understand. We suggest that you use a password manager to save your multiple passwords in one place.
4. Enable MFA (Multi-Factor Authentication)
Multi-factor authentication is a reliable way to secure your accounts from being hacked. It is recommended to opt for authentication methods that don’t rely on SMS. The fraudster has complete access to your SIM card and can easily access a one-time passcode after a SIM swapping attack. App-based two-actor authentication and hardware tokens are reliable for MFA.
5. Dodge Scammers by Different Tactics
When SIM swap attackers call you as a bank or mobile service provider and shower you with offers, dodge them by asking to call back. This act could stop the SIM swapping process. Additionally, review your account’s activity and notifications of suspicious login attempts, ensuring regular updates.
Wrapping Up with Immediate Steps!
If you suspect SIM swapping, call your carrier right away, lock your accounts, and keep an eye out for fraudulent activity in your financial statements. Set a carrier PIN and remain watchful to reduce threats. Adapting your security policies and following the guide about how to prevent SIM swapping attacks is critical for safeguarding your accounts and personal information. Moreover, it is not recommended at all to deploy SMS-based verification. Instead, go for app-based authentication and hardware tokens. They are a more useful option to save yourself from being a victim.
Take immediate steps; never ignore such threats!
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FAQs
What is SIM swapping?
SIM swapping occurs when attackers transfer your phone number to their SIM card. It allows them to intercept calls, texts, and two-factor authentication credentials. This leads to gaining access to your accounts and personal information. It makes use of weaknesses in mobile carrier systems.
How does a SIM swap fraud work?
A SIM swap fraud occurs when a fraudster tricks a smartphone provider into shifting a victim’s phone number to a new SIM card owned by the scammer. In another case, they collect personal information about the victim by impersonating them and contacting the provider to request a SIM exchange.
How to prevent SIM swapping attacks?
To prevent SIM swapping, set a PIN or passcode with your mobile provider and enable port-out protection. Use app-based two-factor authentication (2FA) instead of SMS. Avoid disclosing personal information publicly, and keep an eye out for strange account activity or unexpected phone service outages. Act swiftly if problems develop.