Facing SIM Swap, what you should do?

SIM swapping takes advantage of a SIM card to swap and control the target’s SIM card, then he can control the user’s phone number and all the personal data linked to it.

With the rise in SIM swapping attacks, an increasing number of people are finding their cell phone numbers stolen, and their financial information compromised.

Let’s figure out how Sim swap works?

First, the fraudster obtains and collects as many personal data as possible, and he impersonates the user and requests activation of a fresh sim card, Now the user sim belongs to a device the fraudster controls, at this point the fraudster gain access to the user bank account and all the important information.

How can I protect myself from sim swapping?

1-      Protect your information

Avoid posting too much personal information on the Internet. A fraudster could use this information to confirm your identity when trying to exchange your SIM card. If you receive an e-mail or text message asking you to provide or confirm personal information (phishing), do not click.

2-      Keep your number to yourself

If possible, avoid giving out your phone number when you create an online account. The fewer accounts you have associated with your number, the less likely you are to have it stolen.

3-      Create a unique and secure password for each of your accounts

Don’t make it easy for fraudsters! Remember: when you use the same password for multiple accounts, accessing one of them is enough to access all the others.

4-      Avoid text-based authentication

Often when you create an account online, you are asked to set up two-factor authentication for added security. This means that when you log in, in addition to your username and password, you may be asked to provide a code sent via text message. With SIM swapping fraud on the rise when setting up two-factor authentication, it’s best to opt for an authentication application or security key instead of your phone number.

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Posted on March 17, 2022 by Yassine, LASRI