PROTECT YOUR CELL PHONE SIM CARD

PROTECT YOU CELL PHONE SIM CARD

By Richard E. “Rick” Dennis CPP
Freelance Writer and Author
© 2020 All Rights Reserved
April 17, 2020

HOW THE SIM CARD SWAP WAS DEVISED

At the end of December 2019 a new PHONE SCAM was discovered whereby scam artists have devised a relatively new plan to highjack your cell phones SIM CARD. Once the scammer has control of your SIM CARD, they control your phone. This action alone makes it easy for them to drain your bank accounts. In a December 19, 2019 ABC I-Team News article, by Jason Knowles and Ann Pistone; entitled, IN SIM CARD SWAP, THIEVES STEAL YOUR IDENTITY BY HACKING YOUR PHONE. The article specifically details the steps necessary for the high jacker to gain access to your phone and your finances.

CHICAGO (WLS) -- In the SIM swap scam, thieves take control of your phone number, emails, texts and can even wipe out your bank account. It can destroy your credit and compromise your most private details. You can completely lose control of your apps and your phone.

Experts told the I-Team it can all start with someone calling your cell phone carrier, pretending to be you.

"I had no signal," said Mike Malloy, who thought there was a glitch on his cell phone.

After rebooting failed, Malloy noticed emails from his bank and E-Trade about money withdraws.

“I was panicking, almost about $20,000 dollars," said Malloy. He quickly learned he was a victim of what's known as "SIM swapping."

“SIM swapping' is where they will call your mobile carrier and convince the help desk that you need to get a new SIM card because you lost your phone or your SIM card broke," explained Andrew Hoog of Chicago's NowSecure.

Hoog told the I-Team that scammers have enough information about you through social engineering or other data breaches to convince your mobile carrier to use the cloud and move your phone number to a new smartphone SIM card.

"Your service gets transferred to the attackers' SIM card and then they are impersonating you from there on out," he said.

Your SIM card is in the side of your phone. It stores your contacts, text history and more.

"They have access to your email, bank account, social media, contacts, to all of the transactions you have done in the past. Basically, they own your identity," said Hoog.

And while you are restarting your phone and trying to figure out what is happening, criminals are resetting passwords to your bank accounts and social media accounts.

"As a consumer you will never know it happens until your phone goes dead," Hoog explained:
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CHICAGO (WLS) -- In the SIM swap scam, thieves take control of your phone number, emails, texts and can even wipe out your bank account. It can destroy your credit and compromise your most private details. You can completely lose control of your apps and your phone.

Experts told the I-Team it can all start with someone calling your cell phone carrier, pretending to be you.

"I had no signal," said Mike Malloy, who thought there was a glitch on his cell phone.

After rebooting failed, Malloy noticed emails from his bank and E-Trade about money withdraws.

"I was panicking, almost about $20,000 dollars," said Malloy. He quickly learned he was a victim of what's known as "SIM swapping."

"'SIM swapping' is where they will call your mobile carrier and convince the help desk that you need to get a new SIM card because you lost your phone or your SIM card broke," explained Andrew Hoog of Chicago's NowSecure.

Hoog told the I-Team that scammers have enough information about you through social engineering or other data breaches to convince your mobile carrier to use the cloud and move your phone number to a new smartphone SIM card.

And while you are restarting your phone and trying to figure out what is happening, criminals are resetting passwords to your bank accounts and social media accounts.

"As a consumer you will never know it happens until your phone goes dead," Hoog explained.

"My heart was in my throat as I was seeing this guy make these transactions, and it would show up as it turned out," said Malloy. "Both of us were logged into the account at the same time."

Eventually Malloy was able to get his number back and stopped the SIM swap hacker from draining accounts by accessing accounts through his laptop. It also helped that he used emails as his main way of account verification. You can also use another phone number like a work cell or home number as a backup verification number with your accounts.

"When you are doing verification you're setting up bank card, credit cards, make sure you are using more than one method to validate who you are," said Malloy.

But how can you stop a SIM swapper from tricking your carrier?

To read the entire article, click on the following link:

https://abc7chicago.com/sim-card-scam-no-swap/5749616/

PROTECTING YOUR CELL PHONE SIM CARD

As a Risk Analyst, I always insist my clients - enact a two-step verification process to ensure your financial safety and security. With the two-step verification process the user establishes a user identification and a password. With the two-step verification process the user also enacts a second step verification by using either a PIN number or your own cell phone number to ensure the individual requesting the information is emphatically you.

Essentially, what happens is: “Once you enter your log-in identity and password, the system will either ask for your PIN number or the system will send a text message to your cell phone asking if it’s actually you trying to log in. With the two-step verification process the customer service representative will also have these security protocols at their fingertips. This two-step verification process will alert the customer service representative whether it’s you or not, by asking for either your PIN or log-in information or sending you a text for verification.

RISK MANAGEMENT AND STEP-LAYER SECURITY MEASURES

As a RISK MANAGER I always implement “STEP-LAYER” security measures. For the layman, this is essentially adding specific layers of security, in-steps, where one over-laps the previous security measure and so forth to protect a Clients assets.

WHERE TWO-STEP VERIFICATION IS WARRANTED

I always suggest my clients to enact two-step verification for: Email, bank accounts, cell phone accounts, and social media profiles. Keep this information securely locked away. A rule-of-thumb to remember is, never provide any of your personal or private information over the telephone.

LIMITING SOCIAL MEDIA INFORMATION

One way you can protect yourself is by limiting the amount of information you place on you Social Media profile. This will protect you and your bank accounts. Only use as much information necessary to establish your social media presence.

In today’s trying times, thieves are readily available to steal your hard earned money. Prepare yourself against the onslaught of these unwanted individuals, by using the proper security to protect your assets.

“UNTIL NEXT TIME, KEEP EM BETWEEN THE BRIDLE”