SIM Swap Turns Mobile Numbers Into Bank Key

SIM swap fraud is a fast-growing identity crime in which attackers hijack a victim’s mobile number and use it to unlock financial and digital accounts. 
 
By convincing a telecom provider to move the number onto a SIM card they control, criminals receive calls, texts and one-time passwords meant for the real user.
  
The scheme usually starts with data collection. Personal details gathered from phishing, social media or past leaks help the fraudster impersonate the subscriber. 
 
Claiming the phone is lost or damaged, they request a replacement of SIM. 
 
Once activated, security codes flow directly to them, allowing password resets and rapid account takeovers.

 
Victims often realize something is wrong only after damage is done. 
 
Sudden loss of network service, alerts about SIM changes, blocked logins or unfamiliar bank transactions are key warning signs.
 
Protection depends on reducing reliance on SMS authentication. 
 
Setting a SIM PIN, placing extra verification checks with the carrier, and shifting to authenticator apps or hardware security keys can sharply cut risk. 
 
Limiting personal information online and tracking transaction alerts also improves early detection.
 
If compromise is suspected, contact the telecom operator immediately, inform banks, change passwords starting with email, and report the incident to cybercrime authorities. 
 
Speed is critical—the longer criminals control the number, the more doors they can open.