A SIM swap scam just cost this lady $17,000
Security measures like two-factor authentication (2FA) are meant to protect us. But what use are 2FA codes if they are sent to another phone that is using your number? That’s what happened to Sharon Hussey of Bethesda, who fell victim to a SIM swap scam that cost her $17,000.
According to a report from WJLA, Hussey received an email thanking her for her purchase of a new phone from Verizon. Later on, she got a notification where her contact information at Bank of America had been changed. Hussey attempted to call her bank, but since her number was no longer active, she was unable to. In a matter of minutes, a total of $17,000 had been withdrawn from her account.
What makes this situation alarming is the fact that Hussey has 2FA enabled. Someone changed her contact information, causing the 2FA codes to be sent to the new number instead of her current one. This happened after an individual went to a Verizon store, purchased a new phone, and used Hussey’s number to activate the handset.
SIM swap scam have been around for a while now. However, in recent years, security experts say the number of these scams have been going through the roof. Hussey was initially denied her claims for a refund, but the bank eventually refunded her her money.