Two major high street banks will change security procedures after journalists demonstrated how to carry out SIM swap fraud attacks. The decision to modify the security procedures follows the scoop made by two journalists from BBC Radio 4s You and Yours programme that broke into an account online and removed money. The journalists reported the issue to the NatWest, owned by Royal Bank of Scotland, who confirmed that that the systems for both banks would be changed as a direct result of the You & Yours investigation. The criminals use answers to security questions obtained from the analysis of social media accounts to contact the victim’s mobile phone provider, posing as the customer.”]
Source: http://securityaffairs.co/wordpress/45052/cyber-crime/sim-swap-fraud-cases.html