SIM SWAPPING

Source: The Hindu

Disclaimer: Copyright infringement not intended.

Context:

• SIM-swapping is a growing form of identity theft that goes beyond hacking into an email or social media account.
• In today’s digital age, mobile phones are central to our lives, serving as a gateway to personal, financial, and professional realms. However, this convenience also brings vulnerabilities, one of which is SIM swapping.

Details:

What is a SIM?

• A subscriber identity module (SIM) is a small chip card that activates calling, texting, and data services in a mobile phone.
• Each SIM card has unique identifiers associated with just one mobile account. Because of these distinctive details, removing a SIM card from one phone and putting it into another automatically transfers that card’s mobile services to the new physical device.

About SIM Swapping

SIM swapping is a sophisticated form of identity theft where cybercriminals manipulate mobile carriers to port a victim’s phone number to a SIM card they control.

Once successful, the attacker receives all calls, messages, and two-factor authentication (2FA) codes meant for the victim. This gives them access to personal information, financial accounts, and other sensitive data.

The FBI Internet Crime Complaint Center reports that SIM-swapping complaints have increased more than 400% from 2018 to 2021, with associated personal losses estimated to be more than $68 million.

The Modus Operandi

• Researching the Victim: The attacker gathers personal information about the target via social engineering, phishing attacks, or data breaches.
• Contacting the Carrier: Armed with the gathered information, the attacker contacts the victim’s mobile carrier and impersonates the victim.
• Convincing the Carrier: The attacker persuades the carrier to change the victim’s phone number to a new SIM card by providing convincing but fraudulent information.
• Taking Control: Once the swap is successful, the attacker receives all incoming calls and messages, including 2FA codes, facilitating unauthorized access to the victim’s accounts.

What are the signs of a SIM swap attack?

Sign	Description	Action
Strange notifications	●Texts or calls about unexpected service changes.	●Contact the service provider immediately.
No phone service	●Sudden loss of ability to make/receive calls, texts, or use data.	●Confirm with service provider if a swap occurred.
Unusual social media posts	●Posts on social media profiles not created by the account owner.	●Check for unauthorized access and secure accounts.
Account lockouts	●Sudden inability to access bank accounts, social media profiles, or emails.	●Investigate and secure affected accounts.
Unexpected transactions	●Suspicious transactions on bank or credit card statements.	●Report and investigate with financial institutions.

 Preventative Measures:

Smart Online Habits	●Adhere to basic online safety rules, avoid phishing emails, suspicious links, and sharing sensitive information online.
Secure Phone Accounts	●Set unique passwords, PIN codes, and security questions for phone accounts to enhance security.
Use Authentication Apps	●Prefer secure apps for two-factor authentication instead of phone numbers to reduce SIM hijacking risk.
Ask for Call-Backs	●Request banks or service providers to call the registered number for any account changes to prevent fraud.
Avoid Linking to Phone Number	●Use alternative methods for account setup and authentication to limit hacker access in case of SIM swap fraud.

Conclusion

• SIM swapping represents a significant threat in the landscape of cybercrimes. Understanding its mechanisms and taking proactive steps to secure your personal and financial information can significantly reduce the risk.
• As mobile phones become increasingly integral to our lives, maintaining vigilant security practices is essential to protect against evolving threats like SIM swapping.

READ IN DETAIL ABOUT THE TOPIC- https://www.iasgyan.in/daily-current-affairs/sim-swap-scam

Source:

https://www.thehindu.com/sci-tech/technology/one-tech-tip-protecting-yourself-against-sim-swapping/article68405402.ece

PRACTICE QUESTION Examine the phenomenon of SIM swapping as a growing cybercrime challenge in India. Discuss its modus operandi, impact on individuals and businesses, and the measures required to prevent and mitigate its consequences.