Police in Europe have arrested 26 people in an effort against two gangs of scammers who would take over victims’ phones, then steal financial and personal data from the devices. Law enforcement in Spain and Romania, in coordination with Europol, arrested 12 and 14 people, respectively, in actions against two distinct groups of SIM swappers, Europol announced Friday. SIM swapping occurs when thieves convince phone companies to give them access to an individual’s phone number, often by impersonating the victim during a call with a customer service representative. This grants attackers access to incoming phone calls, text messages and credentials like one-time codes that various sites send via text as part of the two-factor authentication process. The group in Spain stole more than €3 million ($3.34 million) in a series 100 attacks, Europol said. In each instance, the group walked off with between €6,000 ($6,700) and €137,000 ($153,000) from hacked bank […]
The post European police nab 26 suspects in SIM swapping dragnet appeared first on CyberScoop.
Continue reading European police nab 26 suspects in SIM swapping dragnet→