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Crypto banks function the same as normal banks but only deal with digital assets such as Bitcoin, Ethereum and Ripple. The services of crypto banking include the holding of crypto balance, making payments and providing interest on deposits.
Bell flanker brand Virgin Plus rolled out a new process for SIM transfers, according to details obtained by MobileSyrup. According to a reader tip, Virgin Plus started rolling out the change on October 5th. Existing customers who complete a standalone transfer to a new SIM card in-store will receive a text message to approve the transfer.
Last week the Federal Communications Commission (FCC) put out for comment its first set of consumer cybersecurity protection rules under the Biden administration. These proposed rules address the growing scourge of so-called SIM swapping and port-out fraud.
Google has put out another blog post reminding people that it will soon enable two-factor authentication (2FA) for millions of users by the end of the year. 2FA, or two-step verification as Google calls it, is a security protocol that can help protect online accounts by requiring a second method of authentication when the user signs in. In most cases, this refers the codes texted to people’s phones after they log into a website.
SIM-swap fraud nearly doubled, and digital banking fraud victims lost over R309 million to criminals during 2020, according to the latest statistics from the South African Banking Risk Information Centre (Sabric).
SIM card swap fraud is a creative scam that cybercriminals use to exploit mobile activity. These scams have been on the rise since as far back as 2017, aimed at profitable victims that have been specifically targeted. In 2018, eight members of parliament lost money to hackers on duplicated SIM cards. The members of parliament had pinned this type of fraud on the Uganda Communications Commission’s (UCC) inability to put ample measure to deal with sim card hacking and mobile money fraud.
Your cellphone number is a single point of failure.
Think about it. You use your cellphone number all the time. You use it when you sign up to sites and services, and sometimes you’ll use it to log into an app or a game on your phone. Your phone number can be used to reset your account if you forget your password. And, you use it for two-factor authentication to securely login to your accounts.
Mr. Shapiro claims AT&T employees took bribes from hackers and gave them control of his mobile account 4 times over the course of one year. Mr. Shapiro also claims that the hackers then used their control over his mobile account to take control of his personal and digital finance accounts and steal more than $1.9 million from him.
Mr. Terpin claims that AT&T allowed an illegal sim swap to occur after an imposter posing as Mr. Terpin obtained Mr. Terpin’s telephone number from an insider cooperating with the hacker without the AT&T store employee requiring him to present valid identification or to give Mr. Terpin’s required password.
Mr. Williams claims that AT&T employees gave hackers control over his mobile account and phone number through an unauthorized SIM swap, and because of that, the hackers were able to take control of his personal and financial accounts, steal his cryptocurrency, and destroy his business, all resulting in the loss of Mr. Williams’ $2 million investment.
Mr. James Chen claims that AT&T employees gave unauthorized access to hackers in a sim swap which allowed the hackers to steal $764,168.00 from his bank accounts. The hackers then created a new cryptocurrency account, purchased cryptocurrency using the stolen money for themselves.
Ms. McCants claims that AT&T agents were paid to override security measures on her mobile account and allowed an unauthorized user to access her confidential account information. The information accessed then lead to Ms. McCants attack.
Watch Rob Ross interviewed on NBC5 in Cincinnati
SIM Swapping Victims Who Lost Millions Are Pressuring Telcos to Protect Their Customers
Rob Ross interviewed by FOX news in San Francisco
Robert Ross & Santa Clara County DA Erin West interviewed by ABC7 Michael Finney
Donations to StopSIMCrime are used to raise awareness by supporting this website, travel to present at events, help victims recover their money, and stop carriers from giving our service to criminals.
A portion of your donation may be used to provide funding for lawsuits against the carriers and criminals. Because the carriers’ Terms of Service do not allow for legal class actions, each victim must take action individually, which may benefit victim individual. For that reason, we are not able to get tax-exempt status. To be clear, your donation is not tax deductible. However, our intention is that our collective efforts through your support will compel the carriers to fix the problem.