If you wake up to find your phone has no service, and you can’t make calls or send texts, you might be the victim of a SIM swap scam. This frightening scam involves someone else taking over your phone number, opening the door to your financial accounts, personal information, and possibly your identity.

What Is a SIM Card Scam?

The SIM swap scam is a form of identity theft where scammers take control of your phone number by tricking your mobile carrier into transferring it to a new Subscriber Identity Module (SIM) card, which connects you to your mobile network and stores personal data. Once scammers control your number, they can intercept calls and texts, including two-factor authentication codes sent by banks and other sensitive accounts. This allows crooks to bypass security measures and gain access to your finances, online accounts, and personal information.

Example of the Scam

Emily receives a phishing email that appears to be from her mobile carrier. The email claims there’s an issue with her account and asks her to click on a link to verify her information. Emily clicks the link and enters her personal details, including her Social Security number. With this information, the scammer contacts Emily’s carrier, pretends to be her, and requests a SIM card change. The carrier, unaware of the deception, activates a new SIM card for the scammer.

Tips for Protecting Yourself

• Think before you click. Be extremely cautious about clicking on links or opening attachments in emails and text messages, especially if they’re from unknown senders.
• Guard Your Personal Information. Be mindful of what you share online, particularly on social media. Avoid posting sensitive data like your phone number, address, or date of birth.
• Use strong passwords and authentication. Use strong, unique passwords for all your online accounts and enable two-factor authentication whenever possible. For added security, consider using an authentication app rather than SMS.
• Regularly monitor your accounts. Look for unusual activity or charges on your online accounts. If you notice anything suspicious, report it immediately.

If You’ve Been Scammed

• Contact your carrier. Report the scam to your mobile carrier immediately and take steps to regain control of your phone number.
• Change your passwords. Update the passwords for all your online accounts, including email, banking, social media, and other sensitive platforms.
• Report the crime. File a complaint with the Federal Trade Commission (FTC) and your local law enforcement agency.
• Monitor your finances. Keep a close watch on your credit reports and bank statements for unauthorized activity.

Contact us to learn more about safeguarding your financial information and securing your accounts. Our experts are here to help.