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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 FBI Internet Crime Complaint Center reports that SIM-swapping complaints have increased more than 400% from 2018 to 2021, with associated personal losses estimated to be more than $68 million.
Over 1,000 victims lost more than $48 million to SIM swap crimes in 2023, according to the FBI’s Internet Crime Complaint Center. The reason SIM swapping is so alarming is it doesn’t require ...
The convenience of eSIM cards has opened a potential security hole for bad actors.
Petters Group Worldwide was an American diversified company based in Minnetonka, Minnesota that was turned into a $3.65 billion Ponzi scheme by its founder and CEO, Tom Petters.
Technical support scams rely on social engineering to persuade victims that their device is infected with malware. [15] [16] Scammers use a variety of confidence tricks to persuade the victim to install remote desktop software, with which the scammer can then take control of the victim's computer.
The new indictment related to the hack says that on Nov. 11, 2022, on the same day that FTX filed for bankruptcy protection, “Powell instructed his co-conspirators to execute a SIM swap of the ...
Jim Browning is the Internet alias of a software engineer and YouTuber from Northern Ireland [2] whose content focuses on scam baiting and investigating call centres engaging in fraudulent activities. Browning cooperates with other YouTubers and law enforcement when they seek his expertise in investigating and infiltrating scam call centers.