How about not using your phone for financial transactions? How stupid can people be?
“including his proceeds in investments in cryptocurrency, were wiped out.”
$700,000 in Crypto means he lost about $70 in real world money.
Doesn’t matter if you use the phone for that or not. They’re stealing your phone NUMBER, so they’ll be able to change passwords on any of your accounts. If they control your phone, they have functional control over being you. Most people these days use their cell phone for everything, so they’ll have control over everything from your bank account to your electric bill.
He may not have been using his phone for transactions.
A lot of websites and financial institutions have two-part verification where they send a code to your phone when you try to log in.
Snag somebody's phone number through a SIM swap and you get the verification text.
That's why I have one of these:
“• Avoid posting personal information online, such as mobile phone number, address, or other personal identifying information.”
Sorry, but that Genie has been out of the bottle for a long time. Actually most of the information is a matter of public record. The interweb just made it easier to find.
It’s called convenience. I personally try to avoid it but there are times when its easier than going to my bank. But I’m not trading stocks or crypto either.
Where I live, your lucky if you can get through the drive-thru in 30 minutes and with the covid lockdown that became even worse. The line inside the banks pre-covid were horrific.
The Hispanic population will do all their banking for families at one time. Its so bad that the banks put up signs limiting the number of transactions to 3 per car.
I factor in the price of gas and my time when making these decisions.
Welcome to the 21st Century.
I pretty much use my iPhone device for everything. From storing and using my train tickets, my movie tickets, my airplane boarding passes and paying for just about anything (Apple Pay or Venmo). All my banking and stock transactions are done over the iPhone.
You do need to be careful though.
More and more people are doing it. They also keep nude pictures of themselves stored in their phones. As long as there are fools, there will be those who take advantage og them.
I never have, I always figure everything on a phone can be easily hacked. The only thing on my phone is my contact list, not even my e-mail.
You beat me to it. I do not have info from any financial institution I deal with on my phone. Nothing. I don’t even keep pictures on it. I use it for text and calls, that’s it.