Criminals use common security features to access Action News Jax bank accounts

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JACKSONVILLE, Fla. – Phone thefts are on the rise throughout the county. But scammers are stealing your smartphone, just all the data on it. It’s called sim swapping, and once you’re done, your bank accounts will likely be empty.

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Consumer advisor Clark Howard sat down with a cybersecurity expert who explained that this type of theft is sometimes an inside job. Telephone operator employees sell customer data on the dark web. Clark has learned that there are ways to protect yourself.

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Two-factor authentication is a common security feature to keep your information safe. Codes sent to our phones to access our bank, credit card and pension fund accounts to confirm that you are accessing an account and not a thief. Now criminals are taking advantage of this security feature to rob you blindly. It’s called sim swap.

That is, it’s where an attacker, through a couple of different ways, gains control of your phone number. And they usually do it by calling the provider, switching phones and taking over your number, explained former FBI analyst Willis McDonald. McDonald’s specializes in cyber threats.

McDonald told Howard that many times criminals work with a phone company employee. Thieves often observe your habits and plan a sim swapping attack when you are at work or on vacation.

A trusted person who may also be a contractor for a cell phone carrier can exploit this vulnerability to take your service away. And you don’t even know it until you wake up the next day, Howard said.

Related story: They wiped out my entire bank account: Woman Jax scammed, experts now warn others about spam messages

That’s exactly how it works, McDonald said.

McDonald’s said criminal marketplaces offer sim swapping services ranging from $900 to $10,000 depending on which sim you’re swapping.

Someone like Clark Howard probably closer to the $10,000 mark. Ordinary citizens, maybe $900, McDonald said. He showed Howard examples of personal information for sale online.

Howard said there are three steps you can take to protect yourself. First, call your provider and ask them to add advanced security features to your account, such as asking for more information before making the trade. Second, get a hardware key or token. McDonald said hardware tokens like YubiKey or Google Titan keys allow you to use a piece of hardware to actually log into your account rather than a password or text. Third, if your provider won’t let you use a dongle, both Howard and McDonald suggest that a rolling code authenticator like Microsoft or Google Authenticator is your best bet.

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Verizon shared this link advising their customers to stay safe from sim swaps.

TMobile statement:

SIM swapping is an industry-wide problem that all wireless providers are working to combat. T-Mobile invests heavily in measures designed to keep customers safe from SIM swaps and other fraudulent activity, including account takeover protection, number porting PIN, two-step verification, free scam protection with Scam Shield, SIM protection, security dashboard and more. Customers can take other steps to protect their online accounts, such as using unique and complex passwords, resetting pins and passwords frequently, and being cautious of unexpected calls and texts. We have some additional information outlined here. Learn more about SIM swaps on the CTIA website here, including tips on how to protect yourself.

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