How criminals use common security feature to access your bank accounts

CHARLOTTE — Phone theft is on the rise across the country. Not on your physical phone, but on your phone service.

It’s called “SIM swapping,” and your bank accounts will likely be empty once it’s done.

Channel 2 consumer adviser Clark Howard sat down with a cyber security expert to learn ways you can protect yourself.

The attacker will find different ways to get control of your phone.

“What that is, is where an attacker, through a couple of different ways, gets control of your phone number. And they do that normally through calling the provider, switching out phones and taking over your number,” cyber threat researcher Willis McDonald said.

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Steps to stay ahead of an attack include calling your provider and asking for enhanced security features, and getting a hardware key or token.

Verizon asked Channel 2 Action News to share this link advising their customers to stay protected from SIM swaps.

In a statement, T-Mobile told Channel 2 Action News:

“SIM swaps are an industry-wide problem that all wireless providers are working to fight. T-Mobile invests heavily in measures designed to keep customers safe from SIM swaps and other fraudulent activities, including Account Takeover Protection, number transfer PINs, two-step verification, free scam protection with Scam Shield, SIM Protection, a security dashboard and more. Customers can take other steps to protect their online accounts, such as using unique and strong passwords, resetting pins and passwords frequently and being cautious with unexpected calls and texts. We’ve got some additional information outlined here. More information about SIM swaps can be found on the CTIA website here, including tips on how to protect yourself.