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SIM SWAPPING

16th July, 2024

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.