How Fraudsters Take Control

How fraud happens over the phone:

Fraudster calls into the carrier to change SIM.​

Carrier’s Agent tries to validate the account with phone number, last 4 of social security number and billing address. (All info that can be easily found)​

Agent processes SIM card change and shares account information with fraudster.

Fraudster now has access to your number, so they start taking over your email, banking, and crypto accounts.

Now the fraudster has full control they port your number to another carrier pre paid service that doesn’t require any name or ID validation.

How Fraud Happens with Retail Stores:

Fraudster walks into retail store and social engineers representative.

Store representative changes the SIM card and shares account information.

Fraudster now has access to your number, so they start taking over your email, banking, and crypto accounts.

Now the fraudster has full control they port your number to another carrier pre paid service that doesn’t require any name or ID validation.