by Safe Systems
The full article can be found here.
While not new, cell phone porting has recently gained traction as yet another way for scammers to hack into your systems, including bank accounts. The most alarming part of this scam is that it can allow hackers to get past added security measures on personal and financial accounts and logins
Once a scammer has your name and phone number, they will attempt to gather personal information such as address, social security number, date of birth, etc. that can be used to impersonate you. Once obtained, they then contact your mobile provider, claim to be you, report your phone as stolen or lost and then request the number be “ported” with another provider and device. Surprisingly (and unfortunately), mobile carriers often grant this request and forgo formal verification procedures.
Most major wireless providers offer an extra layer of security that customers can request, like a unique PIN or verification code, that only you have. This code or PIN must be provided before any changes can be made to your account.
Whenever there is the option, choose the app-based alternative for authentications. Many companies now support third-party authentication apps which can act as powerful two-factor authentication alternatives that are not nearly as easy for thieves to intercept.
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