The CBC reports that SIM swap is on the rise. The phenomenon is known as number porting or SIM swap fraud. It occurs when a fraudster steals a victim’s number and has it transferred to a new service provider — a process also known as porting.
In an age when phone numbers are widely used to access a variety of websites and accounts through the two-step verification process, losing access to a phone number can have devastating privacy implications. Some providers require a text code in order to allow a number to be ported and without that code nothing can happen. Other providers will just send a text to notify you that there has been a request to port the number. If you take no action the port will go ahead.
The Ontario Provincial Police say fraudsters have increasingly been using the tactic to gain access to bank accounts.
Anyone who has their number fraudulently ported should follow these steps:
- Immediately call your service provider.
- Find out which company the phone number was ported to.
- Call that company, and have the number suspended.
While making those calls, it is also recommended that victims suspend or alter their access to as many accounts as possible, including email, social media and financial services.
See the full article here.