Prepaid sim card hack10/23/2023 ![]() ![]() The financial incentive to launch SIM swap attacks was vividly illustrated by the $18 million, five vehicles, and $900,000 home seized by the FBI from one culprit, as outlined in the agency’s 2019 Internet Crime Report (PDF).įor the usually wealthy individuals who are targeted, losses can run to hundreds of thousands, or even millions, of dollars. Law enforcement agencies have sounded the alarm over the rise of SIM swap scams – a complex, but lucrative form of account takeover fraud. SIM swap attacks are complex, multi-stage crimes with potentially devastating consequences
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