Mobile phone account identity theft accounted for 6.3% of all identity thefts reported to the Federal Trade Commission in 2016. While this number might seem low, it continues to grow in its scope and importance in relation to all identity theft cases across the country. Why are mobile phones so popular for a modern-day cybercrook? Smartphones not only access the world wide web, but their text messages are sent without encryption, making users especially susceptible to theft and the interception of their information. As mobile phone companies continue to assess the current market and all of the safety issues that surround it, they are designing new technologies and strategies for preventing identity theft protection.

What is Mobile Phone Identity Theft?

So, what exactly happens when scammers get a hold of your information through your phone and just how do they do it? Usually, they’ll start by buying your bank account information online. Using information, combined with your personal information that can be found on various social media sites, they’ll call your phone company and pretend to be you, insisting that your phone has been lost or stolen. During this process, they’ll use your information to request that the phone company switch the phone number to a SIM card they have access to. Once they have this information, they’ll be able to access bank accounts protected by two-factor phone verification, withdrawing money from your account without you knowing because the bank thinks you’re the one doing the verification.

What Mobile Phone Companies Are Doing to Prevent Theft

Mobile phone carriers are becoming increasingly more aware of this cyber threat and are taking measures to ensure you and your phone are kept safe from identity theft. For example, most mobile phone carriers now request customers to create a PIN so that whenever a customer contacts the service provider, the PIN is requested. They’ve also implemented functions that allow you to remotely lock a lost or stolen phone and remotely wipe your data before the hackers have a chance to gain access to your information or even switch the SIM card with the mobile phone. Even though mobile phone carriers are continuing to develop their own technology in regards to mobile identity theft, Crediful.com suggest enlisting the help of an identity protection company. You can protect yourself from this and other types of identity theft by doing your own research on the best identity protection services that exist to find out which suit your needs best.

Keep You & Your Information Safe

Along with these safety measures, you can also take your own, such as never using public WiFi networks that are unprotected by passwords, regularly clearing your browser history and saved passwords and ask your wireless carrier how to remotely erase stored data in the case that your phone is stolen. Just as you would with your bank cards, personal computer and other devices, it’s important to treat your phone as a little mini computer with important information stored on it and protect it as such.