Maryland Woman Loses $17,000 Through Sim Card Swap

A Maryland woman loses $17,000 despite having two-factor authentication on her phone. Identity theft is a common and serious crime in which someone illegally obtains and uses another person’s personal information for fraudulent purposes. Victims of this criminal crime may face serious consequences, including financial losses, mental pain, and reputational damage. Identity theft has developed as technology advances, making it easier for criminals to acquire personal information and engage in fraudulent operations. It all started when she received an email from Verizon congratulating her on her new phone purchase. She read the email, and because she had not purchased any phones, she quickly checked her bank account, and her money was all gone. She contacted Bank of America and Verizon and explained what had happened. It happens that someone went to Verizon, purchased a new phone, and got a new number. He then used her number to verify and activate his new number. With that simple step, he could now access the lady’s personal details, including her bank account. The Bank of America accepted responsibility and refunded the money.

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