Beware!! Sim card cloning is possible: A simple but technical explanation
Mobile phones have transcended from just making calls to being used as a private vault. Nowadays mobile phones are used to store extremely sensitive data including authentication to corporate and personal emails and most especially banking credentials. A high proportion of bank customers now have mobile phone numbers linked with their bank accounts due to the availability of several alternate banking channels (eg USSD, Mobile Banking etc.). The risk is also heightened now that most mobile phones serve as a device for Multifactor Authentication to mostly banking transactions. These mobile phones contain a small device called Subscriber Identity Module (SIM) which enables the transmitting and receiving of the signals to and from the network provider. In recent times, the financial industry has experienced a surge in SIM Swap and SIM Cloning related fraud SIM Swap VS SIM Cloning attacks. SIM swap is achieved by convincing the mobile phone provider represe...