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The convenience of eSIM cards has opened a potential security hole for bad actors. ... The risks of these types of fraud are high for investors because mobile phone numbers have become a key to ...
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.
An eSIM (embedded SIM) is a form of SIM card that is embedded directly into a device as software installed onto a eUICC chip. First released in March 2016, eSIM is a global specification by the GSMA that enables remote SIM provisioning ; end-users can change mobile network operators without the need to physically swap a SIM from the device.
Many countries have acknowledged the use of the IMEI in reducing the effect of mobile phone thefts. For example, in the United Kingdom, under the Mobile Telephones (Re-programming) Act, changing the IMEI of a phone, or possessing equipment that can change it, is considered an offence under some circumstances.
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Credit card issuing agencies have issued denial statements regarding wireless identity theft or fraud and provided marketing information that either directly criticized or implied that: beyond the card data itself, other data protection and anti-fraud measures in their payment systems are in place to protect consumers; [11]