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SIM Swap Fraud

I'm concerned about the possibility of fraud perpetrated by criminals who contact mobile operators to request replacement SIMs and then go on to access bank accounts, because having a phone effectively enables them to impersonate the owner.

Relevant articles: https://www.which.co.uk/news/2020/04/sim-swap-fraud-how-criminals-hijack-your-number-to-get-into-you...

and

https://www.wired.com/story/sim-swap-attack-defend-phone/

What is VM doing to tighten their security to prevent this attack occuring ?

By the way the "Lost or Stolen ... phone " link on the website https://www.virginmedia.com/help/virgin-mobile-report-lost-or-stolen-phone gives Page Not Found!

gwynnej3_0-1589890927389.png

 

Thanks

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Re: SIM Swap Fraud

I have similar concerns, I use my phone for security for several financial institutions. Many of them using Authy but many British banks use SMS on our phones for two factor authentification.

I have heard of individuals in the Bitcoin space lose millions when subject to SIM Swap Fraud.

Ideally I would have to provide a password before Virgin accepted a request to issue a PAC code.

I had someone phone me this morning saying he had a call from me, I denied it, he phoned me up a couple of minutes later to say that he checked the number and it was mine but it was a Chinese sounding voice and suggested I contact my mobile service provider.

I have also spent some time today to see how Virgin Media protect me from having my SIM swapped out without my permission. In the current desperate financial situation I would expect this sort of crime to increase and it would be good to know how we can protect ourselves from it !!

 

Regards

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Message 3 of 9
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Re: SIM Swap Fraud

steeling your phone number is pointless if they do not have your username and password for 2fa

keep your security private and having access to your phone is not a risk

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Re: SIM Swap Fraud

The banks don't believe that username and password are good enough or they would not bother with adding 2fa as a layer on top of username and password. I am very careful with security but am aware that some of my details may be out there. The reason I wish to tighten up security of my SIM is because I am careful about security.

https://markets.businessinsider.com/currencies/news/bitcoin-investor-loses-24-million-of-crypto-sim-...
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Re: SIM Swap Fraud

no hacker is going to be be able to get hold of your username and password and then be able to get your sim card as well.

To get one is slim. Use good passwords don't share them between sites and don't be stupid. You will be saved with SMS 2fa

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Re: SIM Swap Fraud

They do get past Virgin security (we have had 2 cases recently) usually, a lax password or memorable data. Mothers maiden name, first school, favourite place etc can often be worked out by what you post on social media.

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Re: SIM Swap Fraud

Thanks MasterGroat - apparently in the USA all operators give the facility to put a PIN on your account to avoid third parties trying to get a duplicate SIM but that doesn't seem to be the case in the UK. Like you I use an authenticator app when available but not all orgs permit this.

My current idea is to use the second SIM in my phone with a payg card in it as the SMS security number, but that will be known only to me - and the respective financial organisations.  My 'regular' SIM can be in the public domain without it being much so use for identity theft. 

Regards.

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Re: SIM Swap Fraud

yea but my point is. If i can get though virgin security. I then need to get your username and password for the bank.

There is almost zero chance any hacker (even targeting you directly) will get all 3

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Re: SIM Swap Fraud

I was rather hoping someone from Virgin Mobile might reply however!
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