Protecting yourself from phone porting and SIM card scams

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In April 2018, Stefan Trueck was driving home from the supermarket when he got a strange message on his phone.

“At 5:55pm, I got a text message from my telco. It said, ‘Hi, received your port out request for this service,'” he says.

“By the time I tried to call them, my phone already went to SOS only. Before I could even react, my number was gone.”

As it turned out, Stefan, a professor of business analytics at Macquarie Business School, was being scammed. Within an hour, criminals had reset his banking password and accessed his accounts.

“They had my customer ID [for online banking], and you can do a password reset if you have the customer ID and mobile number,” he explains.

“It was really professional. I had daily limit of $10,000, so they sent $10,000. They bypassed that limit by opening another account inside my account, which you can do online, and then they transferred another $10,000.”

Thankfully, Stefan quickly notified his bank and the transactions…

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