SIM Swap Scam: Don’t be a victim of fraud
We have already warned you about the tech support scam, but the SIM Swap Scam is a little more cunning and perhaps even harder to prevent.
How does the SIM Swap Scam work?
Let’s assume a scammer has access to your bank passwords (through phishing, etc.).
They can call up your network provider and ask them to swap your service onto a new SIM that they have access to. They may be easily convinced the fraudster is genuine.
Access to your texts can help scammers bypass the two-step verification for banks and payment methods like PayPal.
They can also then pay for (and top up) payment cards like Optimum through your mobile phone bill. This is done through premium rate text message.
How do I prevent being scammed?
You should always have security measures in place, but if the fraudster can second guess these, you’ll have to rely on a quick response to resolve the issue before you get hit by fraud.
If you notice service issues, speak with your customer service team.
If speaking to a call centre, you may suffer from long waiting times and getting through to someone who speaks sense becomes a lottery.
If you manage a business account, we would recommend transferring your mobile contract to Online Support.
Having a dedicated account manager, you have a single point of contact and can resolve issues quicker and more effectively. You’ll also have peace of mind knowing that you’ll speak to an expert when you pick up the phone.
If you’d like to find out more, call us on 0208 232 1190 or contact us.