What is SIM swap fraud? How criminals hijack your phone number
By SendPay Business · · 2 min read
SIM swap fraud is when a criminal persuades your mobile network to move your phone number onto a SIM card they control. From then on, your calls and texts, including one-time security codes from your bank, go to them instead of you.
How it works
- The criminal gathers personal details about you, often from phishing or data leaks.
- They contact your mobile network pretending to be you and ask for a new SIM.
- Your phone suddenly loses signal as the number moves to their SIM.
- They use texted security codes to get into your money accounts.
Warning signs
Your phone shows no service or emergency calls only for no clear reason, you get a message from your network about a SIM change you did not ask for, or you stop receiving texts. Contact your network straight away from another phone.
How to protect yourself
Ask your mobile network to add a PIN or password to your account, share as little personal detail online as you can, and where a service offers an authenticator app or passkey instead of text codes, use it.
Why it matters for money apps
Strong customer authentication relies on something you have, often your phone. Platforms that support app-based approval or biometrics are harder to break into with a SIM swap than those relying on text codes alone.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.