T-Mobile is alerting customers that the industry is experiencing a phone number port out scam that could impact you, and to encourage you to add their port validation feature if you are one of their customers, if you haven’t done so already.
Why is this happening?
Fraudsters are attempting to compromise personal bank accounts by taking over and transferring phone numbers from one wireless provider to another. It’s a scheme that is affecting the entire wireless industry.
“Porting phone numbers is a way scammers can assume someone’s identity. Once a scammer takes control of the victim’s phone, he or she may be able to access the victim’s bank accounts that are linked to the phone number.” Not only that, any 2 Step verification code security will be sent straight to the scammers phone via your stolen phone number after they have ported it across to a new provider." - 7.30 report on ABC
What do I need to do?
T-Mobile suggests that customers add their port validation feature to your account. If you are not a T-Mobile customers, it is advised to contact your carrier and see what steps you can do to prevent this from happening to you.
Is there anything else I can do to protect my account?
T-Molibe also mentions to make sure you always have strong passwords on any online or mobile account. You may also consider checking with your bank to see if there is an alternative to using text-for-PIN authentication, such as email.
Sources:
ABC: http://www.abc.net.au/7.30/stolen-phone-number-led-to-catastrophic-identity/8190280
T-Mobile: https://www.t-mobile.com/customers/secure