Sim-Swap Fraud Surges Tenfold in UK, Impacts Millions

Mobile phone Sim-swap fraud has surged in the past year, with nearly 3,000 cases filed to the National Fraud Database last year, a tenfold increase from the 289 logged the year before. Victims of this type of fraud are typically aged over 61, with the attackers intercepting messages and taking over accounts for apps and other forms of identity theft. The technique has been linked to hacks targeting large companies, including Marks & Spencer's and the Co-op.

Key Takeaways:

• The National Fraud Database reported a tenfold increase in Sim-swap fraud cases, from 289 in the previous year to nearly 3,000 in the last year.
• The majority of victims of Sim-swap fraud are people aged over 61.
• Scammers obtain victims' data through the dark web and use it to gain control of their mobile identities.
• E-sims introduced by phone operators are already being linked to reports of fraud.
• A total of £5.35 million was lost to Sim-swapping fraud between 2023 and last year, according to the National Fraud Intelligence Bureau.
• Victims are advised to set up additional security with their network provider and avoid sharing key personal details online.

Statistics:

• 2,997 cases of Sim-swap fraud were filed to the National Fraud Database last year.
• £5.35 million was lost to Sim-swapping fraud between 2023 and last year.
• The number of Sim-swap fraud cases increased tenfold, from 289 in the previous year to 2,997 in the last year.
• People aged over 61 are the most likely to be victims of account takeovers due to Sim-swap fraud.

Sources:

• "National Fraud Database"
• Cifas, the fraud prevention organisation
• National Fraud Intelligence Bureau
• Which?, UK consumer expert
• Mobile phone operator Vodafone, referenced but not quantified.