Cyber Security -Series -Part #8

Continuation of our Cyber Security Series

Part # 8 - Types of Security Attacks: SIM Swap Attacks

In a SIM swap attack, your data is the target, but the means of attack is through your mobile phone provider. Threat actors contact service providers pretending to be customers and convince them to transfer your account to a new SIM card, giving them control of your phone. If you have MFA associated with your phone number, they can then reset passwords and gain access to your accounts. Threat actors use personal information leaked in breaches or data scaping (gathering data that has been freely shared on social media) to convince the mobile provider that they are the account holder.

As we store sensitive information, especially financial information, and cryptocurrency, on our phones, they have become a more appealing target to threat actors. In February of 2022, the FBI issued a warning that SIM swap attacks were on the rise with 1,611 reported attacks in 2021.

Some signs that you may be part of a SIM swap attack include finding you have no cell service when you should have good reception, being locked out of your phone online account, and receiving account login notifications that you weren’t expecting. Contact your phone provider immediately if you suspect that you are being targeted.