SIM Splitting: A Dangerous Trap For Your Mobile
SIM Splitting Scam: How It Works
Criminals are hitting hard again, this time through your mobile phone – so beware of the SIM Split Scam, aka the SIM Swap. Imagine the following scenario. What would you do if your mobile phone suddenly shows "No Service" right when you need it the most? In this article, we will expose how the SIM Split scammers operate and the story of a man who lost a million dollars to them. How does the scam work?
Watch the video below to see how the SIM Swap Scam works:
Here is how it works. In the beginning, criminals try to get as much info as they can about their potential victims. They search through a bunch of social media profiles, attempt to intercept posts via common ways to hack into accounts, try to con the victims into installing malware or simply buy the personal data from third-party groups.
After they get the information they need, crooks proceed to call the victim's mobile phone network, typically from a blank SIM. The scammers then claim that the handset has been lost, stolen or damaged, hoping that they will be able to bluff their way through the security questions – and often they do since they have access to the personal info already.
If they pass the test, they cancel the old sim and activate a new one. That's when your smartphone shows no more service. The criminals then ask for all calls and texts to be redirected to a new phone. The victim does not realize anything is wrong until his/her mobile stops working. Often, many people don't think anything of this, assuming there is just a signal problem.
The scammers now try to hack into the victim's online banking to open a new account. Here is easier, since there are fewer security checks, as the account is already in the existing customer's name. Once the account is open, they then transfer cash from that account into the one they control.
If the bank calls or sends a text to confirm that the payment is genuine, the call/text goes to the criminal's phone, who validates anything that needs to be confirmed.
SIM Splitting Scam: How to Avoid
Ignore the questionable links that come with your emails. Unless you are certain that the email has come from someone legitimate, do not click on it. The most common scam emails claim to be from banks. Look at the browser and see if the spelling of the bank is right, or if the domain starts with "https" (which is how it should be) instead of "http", when it comes to financial institutions.
If you do find a virus on your computer and your devices act weird, you should disconnect from the internet right away. Then get help from a specialist on the best way to get it off your machine. Make sure that you have decent anti-virus software installed on all of your machines.
We're sure you heard this before, but never use the same password for more than one account. This prevents further accounts from being taken over should the scammers get hold of an account in your name. Create a system that makes you remember your passwords easily. Mix lower and upper case letters and include numbers are particularly useful in a way that is easy to remember. It can be done.
SIM Swap Scam: How To Report
Warn your family and friends about the SIM Swap Scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:
How To Protect Yourself More
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