Sim swap fraud and payg

LifesAGamble

Just wondering if its possible for fraudsters to do this on a pay as you go sim, if not I am thinking of getting a payg sim and use on my spare phone, and use this number for my banking mobile phone number as extra security against this increasing fraud. Thanks

Murmansk

I'd imagine this kind of fraud might a bit easier with a pay as you go SIM because with a contract SIM the phone company always know your name and address details, which a fraudster would presumably need; with a pay as you go SIM it might not be registered with name and address of owner, so presumably getting a new SIM issued would be easier for a fraudster as they'd not need to provide much in the way of proof ownership.

LifesAGamble

Ah yeah, didnt think like that. Thanks for the reply.  Why cant banks use 2FA like Authy which is not vulnerable to takeover fraud and password protected on the phone in case of theft!