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.

synthetic identity 1
synthetic identity 2
synthetic identity 3
synthetic identity 4

Result

Fraud, SIM Swapping.

Example

A user makes transaction with another user’s device and from usual location.

Requeriments

  • User-1 is required to be registered
  • User-2 is required to be registered

Procedure

  • 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
Updated: November 25, 2022