2021 SIM-swapping complaints increased 400% from 2018, causing $68 million in personal losses due to identity theft.
SIM-swapping, a growing form of identity theft, involves thieves taking over your phone number, redirecting calls and texts to themselves. This allows them to bypass two-factor authentication and gain access to financial accounts. SIM-swapping complaints have increased 400% from 2018 to 2021, with personal losses estimated at $68 million. Experts warn the problem is likely to worsen.
July 14, 2024
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