Cyber security experts are warning consumers to be vigilant among a dramatic rise in Sim-swap fraud.
Sim-swapping involves thieves cloning a mobile phone number and assigning it to a new Sim card, through which they can access online bank accounts, messages and calls.
Fraudsters comb social media for phone numbers and personal information, including pets or children’s names, favourite sports teams and birthdates to try and discern passwords to accounts.
Reports of Sim-swapping rose 400 per cent between 2015 and 2020, while victims were conned out of £483,000 during the first six months of 2020 alone, with the total known amount lost to the scam passing £10m the same year.
Dmitry Bestuzhev, a director of research and analysis at cybersecurity company Kaspersky, warned against sharing sensitive information, including bank account numbers or statements, over Meta-owned messaging app WhatsApp following a rise in its use to distribute phishing and ransomware scams.
“It is important to understand that WhatsApp is not a secure platform, although many people think it is. The best thing to do is to not share delicate information,” he told Spanish newspaper El Pais.
WhatsApp has been contacted for comment.
David Emm, principal security researcher at Kaspersky, said that the rising popularity of mobile phone payments had lead to cybercriminals using Sim-swap fraud to obtain access to two-factor authorisation codes sent via mobile.
“The criminals obtain a victim’s personal…
