Your Phone Number Is All It Takes: Understanding SIM Swap Attacks
SIM swapping and SIM hijacking attacks are on the rise, giving criminals a new way to gain access to your bank or other financial accounts. By gaining control of your phone number, scammers can receive one-time security codes from social media, banks, credit card companies, cryptocurrency exchanges, and other financial institutions. It’s important to understand how these scams work to stay protected.
How Fraudulent SIM Swapping Works:
Unauthorized SIM changes occur when your phone number is transferred to a different SIM card or eSIM profile under the control of a criminal. If a SIM swap occurs, your phone will suddenly lose service and stop working.
With control of your number, the scammer can receive your calls and text messages, including one-time passcodes used to verify your identity. This allows them to reset passwords and gain access to your financial accounts, email, and other sensitive information.
Warning Signs of an eSIM Swap:
Be alert if you notice any of these red flags:
Your phone suddenly loses service without explanation is often the first and most important indicator
You cannot make calls or send texts
You receive unexpected notifications from your mobile carrier
Password reset emails appear unexpectedly
Your accounts become inaccessible
You see unfamiliar login alerts
You receive banking notifications for transactions you did not initiate
How to Protect Against SIM Swap:
Add SIM Protection – At no cost, most carriers allow you to lock your SIM to prohibit unauthorized changes. No request to change your SIM will be processed until you unlock the SIM protection feature on your line.
Use Strong, Unique Passwords – Create a different password for each account, especially between social media and financial accounts. A password manager can help you create and manage complex passwords. Since SMS verification is vulnerable to SIM swapping, use an authenticator app such as Microsoft Authenticator, Google Authenticator, Authy, or Duo Mobile. These generate codes directly on your device.
Be Cautious of Unsolicited Messages – Be wary of unexpected texts, emails, or calls asking for personal information, especially those urging you to act quickly. Carriers will never ask for your password, PIN, Social Security number, or payment information. Avoid clicking suspicious links and never share your personal information online or respond to messages that ask for sensitive details, which could be a phishing attempt.
Strengthen Your Online Security – If you have been the victim of a SIM hijacking attempt, change your passwords for your financial institutions and e-mail immediately. Use the security dashboard of your e-mail provider to look for any suspicious logins from unknown devices or locations. Change your passwords regularly, review your credit report often for any unauthorized activity, and report Identity theft to FTC IdentityTheft.gov, local law enforcement, credit bureaus, and the FBI’s Internet Crimes Complaint Center at IC3.gov.
Staying alert and taking a few proactive steps can help protect your accounts and keep your information secure. Southern First will never ask for your password, PIN, verification code, or Social Security number via text message.
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