It’s easy to forget how much of our lives we store on our phones – everything from banking and insurance apps to health records, family photos, and even private conversations. Losing control of your phone number or data can mean handing over your entire digital identity. That’s why safeguarding against SIM swap or port-out fraud is so crucial.
What Is SIM Swap and Port-Out Fraud?
SIM swap fraud (also called SIM hijacking) happens when a criminal convinces your mobile phone provider to deactivate your current SIM card and move (or “swap”) your phone number to a SIM card they control. If they succeed, they receive all your calls and texts, including any codes used for two-factor authentication. Essentially, they take over your phone number as if it’s their own.
Port-out fraud is similar, except instead of swapping the SIM card on the same carrier, scammers initiate a “port out,” moving your phone number to an entirely different carrier. The result is the same: they control your number without your permission.
Why It Matters
Imagine losing the ability to get into your email, social media accounts, or mobile banking in the blink of an eye. Now, consider what would happen if a fraudster impersonated you and received your one-time passcodes for financial transactions. That’s the power a scammer gains if they take over your phone number.
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Financial Risk: They could reset passwords for your bank or credit union accounts and drain your funds.
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Identity Theft: With access to your texts and calls, a criminal could set up new accounts in your name or even intercept one-time passcodes for sensitive online services.
- Reputational Damage: Social media and email hijacking can cause major embarrassment and put your personal relationships at risk if scammers impersonate you.
Your phone is more than just a communication device – it’s effectively the gatekeeper to your digital identity.
How These Attacks Happen
Scammers often collect personal details about you – like your full name, address, or Social Security number – through phishing emails, data breaches, or even simple online searches. Armed with enough information, they call or use a carrier’s online customer service portal and pose as you. They claim they’ve purchased a new phone or SIM card and want to “move their number” to this new device. If the carrier’s representative doesn’t follow strict security protocols, the scammer can successfully transfer your number to their SIM card or new carrier.
Once the attackers control your number, they can request password resets via text, receive your bank’s verification codes, and log in to various financial or social media accounts in your name. Because many of us rely on phone numbers to confirm our identity, a successful SIM swap or port-out can quickly lead to financial and emotional turmoil.
What Can You Do?
There are proactive steps you can take to protect yourself and your family from falling victim to these scams:
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Enable an Account PIN or Passcode: Most mobile carriers let you create a unique PIN or passcode required for account changes. If your carrier doesn’t already prompt you to create one, log in to your account or call customer service to set it up.
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Set up SIM Change or Port-Out Protection: Many carriers now offer an extra layer of security, which may be called “Port-Out PIN,” “Number Transfer PIN,” or “SIM Change Protection.” These ensure that anyone trying to port your number or switch your SIM will need to go through an extra verification step.
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Use Secure Forms of Two-Factor Authentication (2FA): If possible, choose app-based authentication (such as Google Authenticator, Microsoft Authenticator, or Authy) instead of text messages. This way, even if scammers hijack your phone number, they won’t receive the codes generated by the authenticator app on your personal device.
- Regularly Update Your Account Info: Keep your contact details up to date with your carrier, so you receive any alerts if someone tries to make changes to your account.
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Stay Vigilant with Personal Information: Be cautious about sharing details like your birthdate or address on social media. Scammers often piece together personal data from publicly available sources.
- Monitor Your Accounts: Check your credit union, bank, and credit card accounts regularly for suspicious activity and promptly report anything unusual.
Why Haven’t You Heard About It?
You might wonder why this type of fraud isn’t in every headline. The truth is it’s often overshadowed by other large data breaches or cyberattacks. Plus, it’s a relatively quick scam – once a phone number is transferred, criminals can drain accounts or reset passwords in minutes. Because these attacks can be quiet and fast, they don’t always attract the big news stories you see with ransomware or massive corporate breaches.
However, the Federal Communications Commission (FCC) has taken notice. They introduced new rules requiring carriers to strengthen security measures – such as better identity verification and prompt notifications – by mid-2025. This means carriers will roll out more defenses over the next year. In the meantime, it’s up to us to shore up our account security.
The Bottom Line
Our phones hold the keys to our digital lives, from banking and health information to our most precious personal photos and conversations. Taking a few minutes to set up an account PIN, turn on SIM swap or port-out protection, and switch to more secure two-factor authentication can be the difference between peace of mind and potentially devastating fraud.
If you have questions or need help, reach out to your mobile carrier to ask about their specific security tools. Your personal data is worth the extra effort. Here at Chartway, we’re committed to helping you keep your financial life and sensitive information safe from scams. By taking precautions, you’ll make it much harder for criminals to hijack your number and give you the security and peace of mind you deserve.