HELP! Someone stole my PHONE NUMBER! or What is Port hijacking and how to prevent it?

When it comes to your finances, what is the one number that stands out the most to you? That ought to be your Social Security number, right? Is that the number for your bank account?

Could it be your mobile phone number?

When you request to make changes to your account, financial institutions, businesses, and

Payment services will frequently send you a verification text message to ensure that you are

who you say you are. Con artists who are astute as they come, know that if they take over,

your mobile phone number, they can claim to be you, intercept security codes that are

transmit it to your phone, and get into your financial and social media accounts.

The Con Behind the Porting-Out Scheme Exposed

Theft of your phone number can also be accomplished through the use of a porting-out

scheme. You are entitled to keep using the same mobile phone number even after switching

to the company that provides your phone service.

When customers call about their accounts, phone companies require account holders to

provide a personal identification number (PIN) or password. This measure was

implemented to ensure the integrity of the account management process. Scammers might

assume your identity and take over your phone number if they have sufficient personal

information about you.

Scammers are interested in acquiring private information about their victims, such as

their names, addresses, dates of birth, personal identification numbers (PINs), and the last

four digits of their Social Security numbers. Scammers may call their intended victim and

pose as a reputable company or organization, after which they may ask a series of questions

to obtain as much personal information as possible. It's possible that the information has

already been compromised and is accessible on the "dark web" in some instances.

Scammers deceive the victim's phone carrier into believing the porting request came

from the account holder when they issue a porting request on their victim's behalf.

If they succeed in their scheme, the con artist will transfer the victim's phone

number to a new mobile device or service account they have established.

This usually kicks off a race in which the con artist attempts to obtain the victim's

private texts and calls as well as attempt to reset their login details for as many of the

victim's financial and social media accounts as they can before the victim notices that

their device has lost service.

Once the con artist gains access,

their next goal is to wipe out their victims' bank accounts completely. In yet another

variation, they threaten to hold the victim for ransom or try to sell them access to their social

media accounts in exchange for money.

How to Protect Yourself from Harm

Take the initiative. Call your phone company and inquire about obtaining a personal identification number (PIN) or password to verify your identity when you call about your account.

Maintain your state of readiness by establishing email and text message notifications for all of your critical accounts, including your financial ones.

If you discover that changes were made to your account without your knowledge, you should get in touch with the firm that manages that account as soon as possible and let them know that you did not provide permission for the modification.

Do Not Respond:

If someone phones or texts you and requests personal information, do not give it to them.

This includes answering the call or text. If the caller claims to be from a company you are

familiar with, hang up and contact the company back using a number that you know is

legitimate. For example, you may use the number that is listed on your bill, in a phone book,

or on the company's website.

Don't reveal too much of your private information to other people. Do not provide personal

information such as the last four digits of your Social Security number, your phone number,

your date of birth, the make and model of your automobile, the name of your pet, or your

mother's maiden name, for instance. Your identification can be confirmed by using each one

of these items. Additionally, refrain from discussing it on any social media platforms.

Quickly proceed.

The loss of service on your device, such as when your phone turns dark or only allows

you to contact 911, is typically the first indication that something like this has occurred.

Do the following as soon as possible if you have any reason to believe that you have been

the victim of a porting-out scam:

Have a conversation with the phone company.

Talk to your bank and any other establishments dealing with your money.

File a police report

Put a fraud alert on your credit report and acquire copies of your report.

Always keep yourself informed.

Scams involving porting out can be researched further at the following consumer websites:

Commission of Interstate and Foreign Commerce

Better Business Bureau

Take Some Action!

CTIA is the abbreviation for the Wireless Association.

File a complaint

If you believe that you have been the victim of a "porting-out" fraud,

you have the ability to submit a complaint with the FCC for free.

In the Frequently Asked Questions section of the FCC Complaint Center,

you may get additional information on the agency's informal complaint process.

The FTC is also the place where you can report identity theft and consumer fraud.

Want to learn about 15 DIY ways you can protect your business from theft? join us on Sept 21st at 2 pm Eastern