<ul data-eligibleForWebStory="true"><li>SIM swap fraud involves illegally transferring a phone number to a new SIM card to gain control over calls, texts, and OTPs.</li><li>Fraudsters gather personal information through phishing, then convince mobile carriers to activate a new SIM card.</li><li>Implications include draining bank accounts, hijacking social media/email, accessing cryptocurrency wallets, opening new accounts, and compromising online services.</li><li>Individuals can protect themselves by using unique passwords, app-based 2FA, and being cautious of phishing scams.</li><li>Prove offers solutions like Prove Identity Network to combat SIM swap fraud through phone-centric identity verification.</li><li>Prove's solutions include Prove Pre-Fill, Prove Identity, Prove Auth, Trust Score, Identity Verify, and PRO Model APIs.</li><li>Key differentiators of Prove's solutions include strong identity binding, frictionless identity proofing, and near real-time MNO verification.</li><li>Prove's technologies are crucial in deterring fraudsters while providing a secure experience for legitimate users in the fight against digital fraud.</li></ul>

SIM Swap Fraud: Understanding the Threat and Leveraging Prove’s Solutions for Prevention

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