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What is Sim Swap or Sim Hijacking? Are Your Sims Safe

There is a very serious threat is looming around us all which can result in theft of all our personal information or belongings. Our precious data can fall into the wrong hand at any moment which can result in financial damages to us & we may end up losing everything we have worked for so hard. Hacking is now a real threat not just for those who use computers or electronic devices but for all those who use a cell phone. Hackers are now use Sim Swap technique also known as Sim Hijacking to get your personal information in exchange for cryptocurrency that you might hold. This is ever growing among the criminals as its very hard to trace, prosecute & punish. It is very profitable for hackers who can make big bucks on the cryptocurrency market.

 
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What is Sim Swap or Sim Hijacking?

Sim Swap or Sim Hijacking is a process in which a Hacker would get access to your phone number either by getting this information from the mobile companies themselves or by tricking you into filling a form. We as internet users do fill forms here and there not knowing that the information can be collected or used against us. The best method is to not give off your number or if you do then make sure the website is secure and the company has a iron clad privacy policy which it follows as well.

The Hacker can open accounts linked to your phone using your number and get all the information on its own sim which becomes your duplicate. It gives them great access to all your financial accounts via one mobile number. In layman terms the hacker activates your number onto a sim card which is in his possession. The hacker can then access your financial accounts by asking to reset the password. Upon resetting the password the Hacker will get the password reset link instead of you or the phone verification passcode to reset the password taking full control of your financial accounts especially if you have any cryptocurrency account. One must understand that the hacker when targets you can get your personal information from social media engineering technique or from the dark web it self.  

 
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How to avoid Sim Swap or Sim Hijacking?

It is common practice that people link up their mobile phone numbers with their financial accounts so if a hacker gets your phone number he can easily access your financial accounts. The best practice is not to link your financial accounts with your phone number and use other means of authentication as well as accessing your accounts.

People think that having and SMS Authentication system in place will secure your financial accounts from hackers but it can result in giving them easy access. The most preferred way of securing your accounts would be using 2FA also known as Two Factor Authentication method. It not only secures your financial information but also secures your personal information as well.

Installing anti-virus is a good way to stop the hackers from selecting you as a target. Hackers either do not have the time to go through the antivirus or are unable to go through the antivirus hence keeping you safe and not a preferred target to begin with.

As a community we need to push the mobile providing services to take strict measures in securing your mobile number and securing privacy information. Mobile network companies should work on developing evolving technologies which makes it difficult and impossible for hackers to get your phone numbers or be able to do Sim Swap.

 
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