SIM Swapping

A SIM swap scam is a type of account takeover fraud that targets a weakness in 2FA in which the second factor or step is a text message (SMS) or call placed to a mobile telephone. The scam begins with a fraudster gathering personal details about the victim (by any means necessary). Once the fraudster has obtained these details, they use social engineering techniques to convince the telephone company to port the victim’s phone number to the fraudster’s SIM. In many cases SIM numbers are changed directly by telecom company employees bribed by criminals. Once this happens the victim’s phone will lose connection to the network and the fraudster will receive all the SMS and voice calls intended for the victim.

SIM swap scam, port-out scam, SIM splitting
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