US insurance firms sound alarm after 66,000 individuals impacted by SIM swap attack
Two US insurance companies, Washington National Insurance and Bankers Life, have warned that hackers compromised their computer systems and potentially stole personal information of thousands of individuals.
The hackers used SIM-swapping attacks to gain control of victims' phone numbers and bypass multi-factor authentication, allowing them to access sensitive information.
SIM-swapping attacks are not new, and companies and individuals should take steps to protect themselves, such as avoiding linking accounts to phone numbers and adding additional security measures to cellphone accounts. [ more ]
The FCC has introduced new rules to combat SIM-swapping and port-out fraud, requiring telcos to give consumers more control of their mobile phone accounts.
Wireless carriers must now notify customers of any SIM transfer requests to prevent fraudulent attempts by cybercriminals.
The new rules aim to address SIM-swapping attacks that have been widely reported in cybercriminal attacks against businesses and consumers. [ more ]
SIM swapping: the simple way that hackers took over the SEC's X Account
The SEC's Twitter account was hacked and a false announcement about approving bitcoin ETFs was posted, causing a temporary spike in the price of bitcoin.
The hackers used a relatively simple scam called SIM swapping to gain access to the SEC's Twitter account and post the fraudulent announcement. [ more ]