This is how the group acted arrested in Spain for bank fraud using SIM cards

The Spanish National Police reports the dismantling of a new cybercriminal organization that stole money from its victims by hijacking SIM cards.

Hardly anyone is surprised anymore when we talk about cybercriminalityand it is that the mafias and the hacks mass have already cured us of fear. In all cases, you have to be careful especially with your smartphonesWell, with all your personal information inside, including access to our banks and financial services, those sandwiches of glass and metal have become the big target of cyber thieves.

In reality, ‘SIM card hijacking’ crimes continue to rise lately, with countless criminal organizations like the one that the Spanish National Police dismantled just a few days ago, arresting up to 8 people in connection with multiple attacks by “SIM swapping” subsequently commit financial fraud.

One of the most common and dangerous frauds today is ‘SIM swapping’.

The truth is that these are not isolated cases, because as our colleagues from The Hacker News told us, this time it was a perfectly organized criminal networkwhose members presented themselves as reliable representatives of banks or other companies to obtain personal information, duplicate the SIM cards of their victims and thus be able to obtain bank details to steal money from their accounts.

The Spanish security forces said in their press release:

They impersonated their victims through the falsification of official documents and deceived employees of phone shops to obtain duplicate SIM cards, where they then received the security and authentication messages from the banks, allowing them thus completely emptying the accounts of its victims.

This is how a hacker managed to steal millions of dollars in cryptocurrencies thanks to “SIM swapping”

As you will see, it is not that difficult to get a duplicate sim cardbecause despite the fact that the operator in question must request reliable proof such as the DNI, many times the techniques of Phishing, smashing and the social engineering are enough to perform a SIM card hijacking.

Actually got the duplicate SIM, criminals already will have access to most of our double authentication systemsso getting into the banking apps will be a piece of cake and it won’t be complicated either empty our accounts by authenticating the operations themselves.

What is SIM card swap

With so much information inside, your mobile has become one of the main targets for hackers.

Regarding news of police action in Spain, apparently seven of the suspects have been arrested in Barcelona, ​​along with another person arrested in Seville, also freezing up to 12 bank accounts as part of the operation. From what happened, the first frauds attributed to this organization date of March 2021 last.

According to experts, SIM card hacking is already one of the most frequent cybercrimesresulting in the theft of millions of euros from the victims’ virtual bank accounts and wallets, which end up being transferred directly and opaquely to countless wallets with cryptocurrencies which then become untraceable.

From the American FBI itself, they even cipher in 1,611 complaints of “SIM swapping” filed only in 2021, resulting in the theft of over $68 million only in the United States.

Be very careful with your smartphones and always enable two or three factor authenticationWell, as you will see, it is no longer so safe to authenticate everything with our smartphone by sending SMS messages with confirmation codes.

Here we leave you an article that explains the crimes of “SIM kidnapping” in a little more detail:

What is SIM swapping and why you need to be careful with this popular mobile scam

Related Topics: mobile technology

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