Hackers steal thousands of dollars through victims’ cell phones using SIM swap fraud

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Hackers steal thousands of dollars through victims’ cell phones using SIM swap fraud
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The technique has exploded in popularity according to FBI numbers.

NEW ORLEANS - Criminals are employing a new hacking technique both in New Orleans and across the country, leading to millions of dollars in yearly losses from victims who may not be able to figure out what happened until it’s too late.

Once hackers can access your phone number, they can intercept confirmation codes for two-factor authentication sent via SMS. Buckley and Lopez, who said they had a few drinks that night, found the interaction strange but didn’t think anything of it.“We figured because we have a lock pin that nobody could access the phone,” Lopez said. “We also figured we could just call them whenever our phone charges and they can meet with us and give it back.”

“It almost feels like there’s no moving forward, you know? Knowing that they have all of our personal information and, when we go to a certain place that feels like a safe space to us in the community, that we’re going to be taken advantage of there,” Buckley said. “We don’t really feel like we have a safe place anymore.”, up from more than 1,600 complaints in 2021 and only 320 from 2018 to 2020.

Fox 8 cybersecurity expert Nam Nguyen shared some tips to protect yourself and your finances from SIM swapping:

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