On Friday afternoon Jack Dorsey’s Twitter account was hacked – later identified as a SIM swap attack. With this type of fraud a hacker either convinces or bribes a carrier employee to switch the number associated with a SIM card to another device, at which point they can intercept any two-factor authentication codes sent by text message.
Clearly everyone, even Twitter’s very own CEO is at risk of SIM swap fraud. And it’s a growing problem. In January this year, the City of London Police’s ActionFraud division showed a 63% rise in victims reporting the crime in 2017 compared to the previous year. So how can it be stopped?