ATLANTA — Consumer adviser Clark Howard says you need to be aware of a new scam called SIM swap fraud.
"The SIM card contains the authentication information that comes from your mobile carrier that allows it to connect to the cellular tower and gain service," explained Keith Jarvis.
Keith is a security researcher with Dell Secureworks.
He says the scam begins when fraudsters are able to access your personal information online.
Once they have it, they call your phone carrier, pretend to be you, and request that a new SIM card be sent to them.
With more and more banking being done on mobile phones, many banks send one-time passcodes and other information to your cellphone as a way to verify your identity.
When the crooks activate the new SIM card, they'll be in control of your phone.
"They essentially have your phone number and can impersonate you through your phone.," said Jarvis.
There are ways you can protect yourself.
"Contact your mobile carrier and ensure that you have the additional security features on your account, like a PIN code that will prevent somebody who is not you from calling and making changes to your account or having a new SIM card ordered and delivered to them," explained Jarvis.
Clark Howard says the cheapest insurance you can get is to buy a separate computer for all your banking.
With laptops being sold for as little as $129, it's a cheap way to protect your money.
WSBTV
