SIM swap fraud is when a criminal impersonates you or a mobile operator and convinces your mobile phone network to issue a replacement SIM card for your phone. This allows them to take control of your mobile phone number, granting them access to your calls, texts, and potentially even your online banking details and access codes.
This type of fraud poses a serious threat to both individuals and businesses, as it can result in major financial losses and compromise the security of important files and information. This is why safeguarding yourself and your business against SIM swap fraud is so important.
Fortunately, the experts at Town & Country Communications are here to help. Below, we'll explore what SIM swap fraud is, how to recognise if you've fallen victim to this scam, and the steps you can take to protect yourself and your organisation.
What is SIM swap fraud?
SIM swap fraud, also known as SIM hijacking or SIM jacking, is a type of scam where criminals trick your mobile carrier into transferring your phone number to a SIM card they control. The goal is to steal your money or identity by accessing your accounts.
In a SIM swap fraud, the scammer will steal your personal information through phishing emails, social engineering, or buying information on the dark web. They'll then contact your mobile carrier pretending to be you, possibly claiming to have lost their phone or SIM card and request a replacement. The carrier will activate a new SIM card with your number on it, cutting off service to your phone and diverting calls and texts to the scammer's device. With control over your phone number, the scammer can potentially bypass two-factor authentication on your accounts and gain access to things like your bank, email, or social media.
How to tell if you've been a victim of SIM swap fraud
It's not always obvious if you've been targeted by SIM swap fraud, but there are a few red flags to watch out for:
1. You've lost connection
This is the most obvious sign. If you can't make calls, send texts, or use mobile data, it could be because your SIM card has been deactivated and your number moved to a new device controlled by the scammer.
2. You've been notified of suspicious activity
Most online services will alert you about unusual login attempts or changes to your account information. If you start receiving emails or texts about these events, it's a good idea to be on high alert. Your mobile carrier might also send a message indicating your number has been activated on a new device.
3. You can't access your accounts
If you're suddenly unable to log in to your bank accounts, social media, or other online accounts, it could be because someone has changed your passwords after gaining control of your phone number.
4. You've found unauthorised transactions
SIM swapping is often used to facilitate financial fraud. If you see charges on your bank accounts or credit cards that you didn't make, it could be a sign your accounts have been compromised.
How to protect yourself and your business from SIM swap fraud
SIM swap fraud is a serious risk, but there are several steps you can take to safeguard yourself and your team. Here are the key actions to consider:
- Phishing scams are a common way fraudsters get your personal details to impersonate you, so be cautious with your information. Don't click on suspicious links or attachments in emails or texts and be wary of giving out personal information over the phone unless you initiate the call.
- Let your carrier know about SIM swap scams and inquire about additional security measures they offer. They may offer business-specific solutions to prevent SIM swaps or enable faster recovery if one occurs.
- Monitor your phone signal and account activity for any unusual changes. If you suspect a SIM swap, contact your carrier immediately to report it and regain control of your number.
- Train your staff to be aware of SIM swap scams and phishing tactics. Advise them to be careful with personal information and report any suspicious activity.
- Implement multi-factor authentication (MFA) for all business accounts and access points. MFA goes beyond passwords and can involve fingerprint scans, authenticator apps, or security questions.
- Don't give everyone access to critical data or systems. Implement a system of least privilege, where employees only have access to the information they need to perform their jobs.
Secure your business with Town & Country Communications' cybersecurity solutions
Don't let worries about cyberattacks get in the way of running your business. With Town & Country Communications' suite of cybersecurity services, you can be confident your business is protected against today's evolving threats - from SIM swap scams to full-scale system takeovers.
Here's what sets us apart:
- Multi-layered protection: We safeguard your mobile and landline systems against attacks, theft, and fraud.
- 24/7 vigilance: Our expert team constantly monitors security alerts, allowing for swift action to minimise damage from hacking attempts.
- Proactive approach: We go beyond user alerts by notifying key decision-makers like finance directors, allowing you to make an informed response.
- Customisable controls: You can define the parameters for mobile security alerts, giving you complete control over the information you receive.
Our services cover all of Dorset, Hampshire, and Wiltshire. If you're ready to take charge of your business security, book a consultation online or call us on 01202 514444 today!
