Sim-swapping has become an increasingly common tactic used by thieves to target UK mobile users. The fraud involves a scammer contacting a victim's network provider and convincing them to switch the phone number to a new SIM card, often in another person's name.
This can leave the victim unable to receive security codes or authentication messages on their phone, making it easier for the scammers to take control of online accounts and make purchases.
The National Cyber Security Centre (NCSC) has warned that Sim-swapping scams have risen significantly in recent years, with many victims losing substantial amounts of money as a result.
According to data from credit reference agency Callcredit, the average loss per victim is around £1,500. However, some individuals have reported losses of up to £20,000.
Mobile operators such as O2, EE, and Vodafone have been urged to do more to protect their customers from this type of cybercrime. Industry experts say that network providers need to take a more proactive approach to identifying and preventing Sim-swapping scams.