The Increasing Danger of SIM-Swapping Identity Theft: Ways to Keep Yourself Safe.

SIM-swapping is a type of identity theft where criminals take control of your phone number. This means they receive any calls or texts that are meant for you. When thieves control your phone number, they can bypass security features like two-factor authentication, locking you out of your own accounts.

The frequency of SIM-swapping attacks has increased, with reports growing by over 400% between 2018 and 2021. The total estimated losses from these attacks over these years exceeded $68 million.

To conduct a SIM swap, criminals gather personal data about their targets from various sources like data breaches or phishing scams. They use this information to trick mobile carriers into transferring the victim's phone number to a new SIM card that the criminals control.

For protecting yourself, use strong, varied passwords and consider using a password manager. Also, enhancing your account security with biometrics or multifactor authentication apps helps fend off such attacks. It's also wise to contact your mobile carrier and set up additional security measures like unique passcodes that prevent unauthorized changes to your account.

If you discover a phishing attempt, report it through your email service or company’s security team. Also, if you fall victim to SIM swapping, report the incident to the Federal Trade Commission and your mobile carrier, and alert your financial institutions to secure your financial data.