SIM swap costs woman $17K in scam you need to watch out for،
Sharon Hussey of Bethesda, Maryland was scammed out of $17,000 while using two-factor authentication (2FA) on her phone. With 2FA, before you can open an app, you must enter a code that is sent via SMS to your phone. But there are ways bad actors can get around this problem, including through a technique called SIM swapping. With that in mind, let's look at the unfortunate events that cost Ms. Hussey $17,000.
Once the thief had his SIM card in his phone, he received all the codes generated by 2FA
SIM CARD ALERT: Sharon Hussey, who lives in Maryland, lost thousands after someone entered a Verizon store in California and got a new SIM card using his phone number. She breaks everything down. @7NewsDCpic.twitter.com/C8vKJX2wM0
— Scott Taylor: 7 News – WJLA TV (@ScottTaylorTV) January 24, 2024
Alex Quilici, CEO of YouMail, a visual voicemail and robocall blocking service, explained how SIM swaps work. “The bad guys convince the phone company that they have the SIM card for your phone number and as soon as the phone company makes the swap, they control your number,” Quilici said. “If you do two-factor authentication on your mobile number everywhere, if someone else gets that mobile number, they can authenticate as if it were you,” he said. -he adds.
For three months, Bank of America refused to credit Hussey for the stolen $17,000. Ultimately, the bank changed its mind and refunded the $17,000.
Verizon recommends you do some things that can prevent you from becoming a victim of SIM swapping
Verizon also offers a list of things you can do to avoid becoming a victim of SIM swapping:
Use strong, unique passwords. Don't use the same passwords for your social networks and your financial applications. Despite what happened to Sharon, Verizon always recommends enabling two-factor authentication wherever it is available.
Verizon said you should be wary of unsolicited texts, emails and calls. If you detect a sense of urgency and sense that the other party wants you to act immediately, do not respond to the message and delete it.
If you receive a message from your carrier that your service is disconnected and you did not request it, call the company from a landline as soon as possible to determine if the message is legitimate. If you stay alert and cautious and greet text messages that seem “abnormal” with skepticism, you can give yourself a fighting chance against a SIM swap.