Transcript: SIM jacking

CIBC Commercial Banking SIM Jacking

[This video uses animation to convey spoken content.]

[Music plays]

[The CIBC logo appears.] 

[Cyber fraud prevention: SIM Jacking]

[A mobile phone appears.]

>>Narrator: While viewing bank records you notice an unusually large purchase has been made. 

A client service representative from your bank informs you that the payment was authorized with a one-time SMS code.

You did not receive a code. In fact, you realize you haven’t received texts or calls for several days. 

You have likely become a victim of SIM Jacking fraud. 

[What is SIM Jacking?]

More and more business is conducted online every day, and that puts all of us at increased risk for online fraud.

SIM jacking is a way scammers try to steal your money and identity. 

[A mobile phone shows an online banking account balance decreasing.] 

These scams are sophisticated and can be hard to spot. 

A fraudster will gain access to your wireless carrier account through scams such as phishing.

They’ll convince your provider to assign your cell phone number to a new SIM card. 

And then all calls and texts will go to the scammer’s phone, including your one-time verification codes. 

That allows scammers to bypass two-factor authentication on your accounts. 

[Recognize SIM Jacking] 

SIM jacking isn’t always easy to spot. Protect yourself by looking out for the following signs. 

Your phone stops receiving messages and phone calls.

You receive email confirmations for orders you did not place.

Or you notice account changes that you have not authorized.

[Protect yourself]

You can help protect yourself from SIM jacking by remembering these 3 simple rules: 

[Protect your wireless account]

Ask your wireless carrier if they offer port protection.

[Protect your passwords]

Protect your account with a strong password. 

Regularly update your passwords and never use the same password twice.

Enable two-step or multi-factor login authentication for your accounts.

[Learn more]

And stay informed about the latest phishing scams that could compromise your accounts and leave you vulnerable to fraud. 

Cybercrime is on the rise, but you can protect yourself, and your business. 

[To learn more about fraud, visit us.cibc.com/FraudPrevention.]

[Legal disclaimer: The CIBC logo is a trademark of CIBC.]