{"id":51099,"date":"2023-03-20T12:43:36","date_gmt":"2023-03-20T12:43:36","guid":{"rendered":"https:\/\/packetstormsecurity.com\/news\/view\/34435\/The-FBI-Warns-SIM-Swapping-Attacks-Are-Rising.-Whats-That.html"},"modified":"2023-03-20T12:43:36","modified_gmt":"2023-03-20T12:43:36","slug":"the-fbi-warns-sim-swapping-attacks-are-rising-whats-that","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/the-fbi-warns-sim-swapping-attacks-are-rising-whats-that\/","title":{"rendered":"The FBI Warns SIM Swapping Attacks Are Rising. What’s That?"},"content":{"rendered":"
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In February 2022, the Federal Bureau of Investigation (FBI) issued Alert Number I-020822-PSA<\/a>. It\u2019s entitled \u201cCriminals Increasing SIM Swap Schemes to Steal Millions of Dollars from US Public\u201d and it comes amid a general increase in cybercrime across the globe.<\/p>\n

Cybercrime is the gravest threat to business<\/a> of all fraud types, according to the World Economic Forum. The Insurance Information Institute says that 47% of American citizens<\/a> experienced some kind of financial identity fraud or theft in 2020. Globally, cybercrime is expected to carry a $10.5 trillion price tag<\/a> per year by 2025.<\/p>\n

The SIM swapping attack is just one kind of cybercrime, but 2022 saw them increasing in frequency along with most other kinds of digital fraud. Here\u2019s what you need to know.<\/p>\n

Why Are SIM cards Useful in Hacking Attacks?<\/h2>\n

This kind of cybercrime is also called a SIM swapping hack. So what\u2019s a SIM swapping hack?<\/p>\n

Actually \u2013 first \u2013 what\u2019s a SIM card? You probably have an idea of its function, but what does it actually do<\/em> and why would a hacker be interested in it?<\/p>\n

The acronym \u201cSIM\u201d stands for \u201csubscriber identity module.\u201d This small chip contains information about your phone and its capabilities, including:<\/p>\n