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What is a SIM swap attack? A SIM swap is a type of fraud where scammers trick a mobile carrier into transferring a victim’s phone number to a device they control.
A subscriber identity module (SIM) was traditionally a small, removable card in your mobile phone that identified your phone number and authenticated your identity to a mobile network.
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.
The scammer may block the victim from viewing their screen, claiming that it is the result of malware or of a scan being run, and use this time to search the victim's files for sensitive information, attempt to break into the victim's bank account with stolen or found credentials or activate the webcam and see the victim's face.
For scams conducted via written communication, baiters may answer scam emails using throwaway email accounts, pretending to be receptive to scammers' offers. [4]Popular methods of accomplishing the first objective are to ask scammers to fill out lengthy questionnaires; [5] to bait scammers into taking long trips; to encourage the use of poorly made props or inappropriate English-language ...
SIM swaps are often carried out through social engineering: A cybercriminal calls a cell phone provider such as T-Mobile and convinces an agent to transfer over the control of a phone number to a ...
An example is the "big screen TV in the back of the truck": the TV is touted as "hot" (stolen), so it will be sold for a very low price. The TV is in fact defective or broken; it may in fact not even be a television at all, since some scammers have discovered that a suitably decorated oven door will suffice. [15]
The SEC said Monday that a "SIM swap" attack was responsible for an unauthorized social media post that triggered market chaos and erased billions of market value in just minutes.
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