Fraud with a new SIM card: how dangerous is SIM swapping?

For cybercriminals and fraudsters, exploiting security holes and other ways to steal someone else’s identity is a lucrative business. As a result, they are constantly coming up with new methods to access and abuse other people’s accounts.

Phishing attempts via phone, email or post are well known, but there’s now a new scam to look out for: SIM swapping. In Britain, London’s Metropolitan Police has a special guide to protecting yourself, following many reports of its threat.

What is SIM swapping?

SIM swapping is a form of scam that allows criminals to hijack victims’ mobile phone numbers and take over their identities.

First they order a new eSIM card in the victim’s name. In some cases, the victim’s name and mobile phone number are sufficient for this. According to the police, these can end up in the hands of the fraudsters through prior investigation or phishing emails.

The new eSIM can then be activated and used digitally, usually by activating a code via a text message that the fraudsters send to their victims. To disguise the fact that a new SIM card is being activated, the fraudsters pass on the code as a package notification or something similar.

Once the SIM card is activated, the perpetrators can use it on their own smartphone and block the victim’s telephone number. This is then used for further fraudulent activities, such as phishing or account access.

How dangerous is SIM swapping?

The SIM changing process seems quite complicated. It is therefore rare that the scam ultimately works. Compared to other types of scams, the number of cases appears to be relatively low.

However, if the attempt is successful and goes unnoticed for too long, it will be difficult for those affected to regain access to their telephone number. In addition, many authentication procedures are linked to SMS, allowing attackers to quickly gain access to accounts.

How to protect yourself from SIM swapping

The police have given the following tips to protect yourself against SIM swapping:

• Do not provide personal information such as your name or mobile phone number
• Install antivirus programs and monitoring apps on your smartphone that show you the permissions of other apps (for example, access to the phone book) – many operating systems do this automatically
• Do not download files from unsafe sources
• Do not install online banking apps on the same device where you receive the mobile Transaction Authentication Number (TAN) for verifying purchases
• When you receive a confirmation code via text message, pay close attention to the sender

If you believe you have been a victim of SIM swap fraud, immediately notify your cell phone provider and file a criminal complaint.

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