According to the Federal Trade Commission, in a growing type
of fraud known as a "SIM swap" scam, fraudsters take over your mobile
account in order to steal your identity. The SIM, or subscriber identity
module, card in your phone is the memory chip that stores information
identifying the phone to a network. Thieves contact your phone company,
claiming to be you, and request activation of a new SIM card with your existing
phone number. Your phone goes dead, and the thief can then intercept phone
calls and text messages that allow access to financial accounts. As a
safeguard, consider adding a password that must be activated before your phone
account can be changed.
