Sim-swap fraud now in vogue By Owolola Adebola We are in a period when a smartphone functions as a digital wallet, identity card, and security key all at once.
One of the oldest tricks in the cybercrime playbook has returned with a vengeance.
It is also known as SIM swapping, SIM hijacking, or phone-number takeover.
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By Owolola Adebola We are in a period when a smartphone functions as a digital wallet, identity card, and security key all at once. Yes, it has surged in popularity among criminals worldwide. Once considered a niche tactic targeting high-value crypto holders, it is now a mainstream method of account takeover, capable of emptying bank accounts, draining mobile-money wallets, and locking victims out of their digital lives in minutes. Recent data from the United Kingdom, Africa, and elsewhere show dramatic increases, while even in the United States, where reported cases have declined, the technique remains a high-leverage attack that continues to evolve with artificial intelligence and eSIM technology.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with Vanguard.