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10/06/2021

FCC asks carriers to step up to stop SIM swapping, port-out fraud

CSO online

Last week the Federal Communications Commission (FCC) put out for comment its first set of consumer cybersecurity protection rules under the Biden administration. These proposed rules address the growing scourge of so-called SIM swapping and port-out fraud.  

These scams exploit the fact that many businesses and organizations use cell phones to identify individuals for a host of accounts aside from mobile phone service. Among the accounts that use cell phones number for identification are e-mail, social media, banking, cryptocurrency exchanges, and online retail outlets, to name just a few of the kinds of accounts that criminal actors can compromise.

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