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Justin Chan of Carlsbad, California, says a hacker drained $38,000 from his bank account after his phone number was compromised in a SIM swapping scam — and he’s not sure he’ll get the money ...
A SIM swap scam (also known as port-out scam, SIM splitting, [1] simjacking, and SIM swapping) [2] is a type of account takeover fraud that generally targets a weakness in two-factor authentication and two-step verification in which the second factor or step is a text message (SMS) or call placed to a mobile telephone.
SIM swapping is when someone temporarily takes over your phone line using the same SIM swapping procedure that you'd use to activate a new phone. Criminals do this by tricking or paying off mobile ...
A SIM lock, simlock, network lock, carrier lock or (master) subsidy lock is a technical restriction built into GSM and CDMA [1] mobile phones by mobile phone manufacturers for use by service providers to restrict the use of these phones to specific countries and/or networks.
Phone fraud, or more generally communications fraud, is the use of telecommunications products or services with the intention of illegally acquiring money from, or failing to pay, a telecommunication company or its customers. Many operators have increased measures to minimize fraud and reduce their losses.
Phone numbers also can be spoofed to mimic those of callers known to the target of voice cloning scams. In 2023, senior citizens were conned out of roughly $3.4 billion in a range of financial ...
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