Efani Has Successfully Eliminated The SIM Swap Problem
SAN FRANCISCO, CA, UNITED STATES, January 16, 2023 /EINPresswire.com/ — 80% of the SIM Swap attacks were successful, according to a Princeton study, but Efani was able to defend successfully against 100% of the attacks.
Efani was founded after Haseeb Awan was Sim Swapped four times in a row. He realized that 80% of SIM Swap Attacks were booming, increasing daily, depriving people of their life savings.
A SIM swap attack is a type of fraud that occurs when an attacker convinces a mobile phone carrier to transfer a victim’s phone number to a SIM card controlled by the attacker. Once the attacker controls the victim’s phone number, they can use it to reset the passwords on the victim’s email and other accounts and gain access to sensitive information. The attacker can also use the victim’s phone number to make phone calls and send text messages that appear to be from the victim, which they can use to commit other frauds.
This attack is possible because many online services rely on a phone number as a form of identity verification. When an attacker controls a victim’s phone number, they can use it to reset the passwords on the victim’s accounts and gain access to sensitive information. Sometimes, the attacker can even use the phone number to make unauthorized purchases or take out loans.
“SIM swaps are devastating financially and mentally, and thieves as young as 15 years old with no technical capabilities have successfully stolen millions of dollars,” says Mark Kreitzman, General Manager of Efani. “I’m a mobile hack victim myself, and I had the best VPN, anti-virus, had an operator PIN, required changes to be made only when I’m physically in a story with an ID, and all it took was for a 3rd party store employee thousands of miles away to lie to their computer and the carriers back office. The employee ported my number to another SIM to reset my passwords and ported it back to my phone to hide their scam. It was tough to sleep knowing they could port my number out and back in while I was sleeping or on a flight.”
According to the FBI, SIM swaps have grown over 40% year over year for the last few years, which will be a problem for the foreeable future. Hackers can perform a SIM swap with simple social engineering, where they impersonate the victim. Still, they are also done by store insiders, call center insiders, employees can be bribed, and groups of hackers will even get one of their group to get employed by a carrier to feed them information or help in executing the scam. Data breaches of large organizations also help fuel this issue by giving hackers information that helps with theft. A hacker can also purchase this data from data brokers in online SIM swap forums or on the dark web.
**About Efani Inc.**
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