Sim Swap scams have always been one of the biggest threats to internet users. Thieves/fraudsters no longer operate in the traditional way. They have moved - and they in turn - to the world of the internet.
According to reports, Sim Swap scams have been on the rise in recent months, given the pandemic. situation Both the lockdown and the fact that the majority of Greek citizens choose to pay bills, do their shopping and transfer money via internet banking have attracted the attention of fraudsters, who are finding ways to extract bank account passwords
SecNews conducted research to determine the size of the problem, the percentage of Greek citizens who have fallen victim (and may not have realized it), the perpetrators of the fraud, and the , should take users.
What are Sim Swap Scams?
Hackers are leveling access confirmation via two-factor authentication and taking over bank accounts!
The scam exploits a mobile service provider's ability to seamlessly port a phone number to a device containing a different subscriber identity module (SIM). This feature is typically used when a customer has lost or had their phone stolen or wants to transfer service to a new phone.
The scam begins with a hacker gathering personal information about the victim, either by using a phishing email or by directly “fishing” the user.
Once the scammer has these details, he then contacts the victim's mobile phone provider. The scammer uses social engineering techniques to convince the phone company to transfer the victim's phone number to the scammer's SIM card. This is done, for example, by impersonating the victim using personal information to make the claim that they have lost their phone seem genuine.
Once this happens, the victim's phone will lose connection to the network and the scammer will receive all SMS and voice calls intended for the victim. This allows the scammer to intercept one-time passwords sent via text or phone calls to the victim, and therefore bypass any security features of accounts (be they banking accounts, social media accounts , etc.) that rely on text messages or phone calls.
- Which "organizations" act as "mules" to transfer funds, knowingly or unknowingly?
- Where is the money of innocent victims being transferred?
- Who is behind this huge scam?
- What countermeasures should mobile phone providers and banks take ?
SecNews' research provides answers to all the questions that arise and will help you be more careful with your online life and your money.
The research is ongoing and we will soon present its results to you.
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