- A SIM (Subscriber Identity Module) is a small card that contains a chip. The SIM card installed into your mobile phone holds data so you can make calls and send texts.
- SIM swap fraud happens when criminals pretend to be you and try to convince your mobile phone network that you need a replacement SIM for your phone. They’ll ask the carrier to activate a new SIM card in their possession. This ports your telephone number to the criminal’s device, which contains the criminal’s own SIM card.
- Once your carrier completes this request, all phone calls, and texts, as well as your online banking codes that you’d usually receive will go to the criminal’s device.