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A person uses a cell phone on Saturday, July 13, 2024, in Los Angeles. The FBI Internet Crime Complaint Center reports that SIM-swapping complaints have increased more than 400% from 2018 to 2021. New federal regulations aimed at preventing port-out hijacking are under review, but it's not clear how far they will go in stopping the crime. When your own phone access is lost to a criminal, the very steps you once took to protect your accounts — such as two-factor authentication — can be used against you. (AP Photo/Paula Ulichney)

What's worse than thieves hacking into your bank account? When they steal your phone number, too

What’s worse than thieves hacking into your bank account

By FATIMA HUSSEIN
Published - Jul 14, 2024, 02:24 AM ET
Last Updated - Jul 14, 2024, 02:24 AM EDT

WASHINGTON (AP) — One Monday morning in May, I woke up and grabbed my cell phone to read the news and scroll through memes. But it was out of cell service. I couldn't make calls or texts.

That, though, turned out to be the least of my problems.

Using my home Wi-Fi connection, I checked my email and discovered a notification that $20,000 was being transferred from my credit card to an unfamiliar Discover Bank account.

I thwarted that transfer and reported the cell phone issues, but my nightmare was just starting. Days later, someone managed to transfer $19,000 from my credit card to the same strange bank account.

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