SIM swapping fraud is an account takeover scamthat targets a weakness in some forms of two-factor authentication in which a call or text message sent to a mobile telephone is the second factor or step.
Fraud, SIM Swapping.
A user makes transaction with another user’s device and from usual location.
- User-1 is required to be registered
- User-2 is required to be registered
- User-1 makes a login and a transfer with Device-1 from Location-1
- User-2 makes a login and a transfer with Device-2 from Location-2
- User-2 makes a login and a transfer with Device-1 from Location-1