Fraud tactics continue to evolve, and one method has seen a noticeable rise, SIM-swap fraud. A SIM-swap occurs when a fraudster convinces a mobile carrier to transfer a phone number to a new device under their control. Once this happens, the scammer can receive calls and text messages intended for the legitimate account holder… including one-time passcodes used for multi-factor authentication (MFA). In many cases, this tactic is part of a broader scheme. Fraudsters may pose as trusted organizations, such as telecommunications providers, and trick individuals into sharing verification codes. In other situations, they may use stolen personal information to bypass security checks. Once they control the phone number, they can intercept security alerts and access accounts more easily. What makes this type of fraud particularly concerning is that it can undermine protections people rely on. MFA is designed to add an extra layer of security, but if a fraudster controls the phone number, those safeguards can be bypassed. Staying informed is key. Be cautious when sharing codes or personal information, even if a request appears legitimate. If something doesn’t feel right, pause and verify through official channels. Protecting your information starts with awareness, and small steps can make a big difference.
