Mobile phones are essential to how modern businesses operate. Employees use them to check emails, verify logins, access cloud tools, and stay connected with colleagues and clients. But with that convenience comes a growing threat that many companies overlook: SIM swap fraud and SIM swapping.
This type of attack was once thought to affect only personal devices, mainly those used for mobile banking or crypto apps. But that’s no longer the case. Business mobile lines are now being targeted too. In fact, the UK saw a 1,055% surge in unauthorized SIM swaps in 2024, with nearly 3,000 reported cases, many involving access to company systems and accounts.
The risk is just as real in the U.S., where the FBI reported over 1,000 SIM swap attacks targeting executives in 2023, causing nearly $50 million in losses.
Some companies assume that corporate mobile plans are safer than personal ones, but that’s a dangerous assumption. In reality, any phone is vulnerable to SIM card switching, no matter who owns the plan. And because these attacks are growing, it’s essential to understand how SIM swap fraud works and what someone can do with your phone number if they gain control of it.
Here’s what we’ll cover in this post:
- What is SIM Swapping?
- Why Corporate Plans Are a Target
- POND IoT Protects Your Phones From SIM Swap Fraud
What is SIM Swapping?
It is a type of identity theft where someone convinces a mobile carrier to transfer your phone number to a new SIM card. The problem is, the SIM card is in the hands of the attacker. This tactic is also known as SIM swap fraud or a SIM card switch.
They usually start by gathering personal information: things like your name, email, company details, or even your employee ID. This data often comes from phishing emails, leaked databases, or social media research. Then, posing as you, the attacker contacts your carrier and claims to have lost their phone or upgraded to a new device. If the carrier believes the story, they activate the new SIM and your phone number is instantly moved. At that point, it’s essentially a clone phone SIM card. Your number is in their control.
From that moment on, the attacker receives your text messages and calls. That includes security codes sent by banks, email providers, and cloud services. Without ever touching your phone, they can reset your passwords, access your business accounts, and even approve internal requests.
SIM swap fraud doesn’t rely on hacking your device. It works by hijacking your cell phone number and taking over your identity. And attackers are getting better at it. Some use forged documents. Others have scripts to follow when calling support lines. The most skilled ones know exactly what to say to sound believable, especially when targeting companies.
This is why SIM swap fraud is so dangerous. It slips past the usual defenses and gives attackers a direct line into your digital life, and if it’s a corporate phone, into your business too. If you’ve ever wondered how to check if someone is using your SIM card, this is the kind of scenario to be aware of.
Why Corporate Plans Are a Target
SIM swap fraud is no longer just about stealing money from personal bank accounts. Today, attackers are actively targeting businesses, and corporate mobile lines are right in their sights. A successful attack is often labeled as suspected fraud, but by the time it’s flagged, serious damage may already be done.
There are several reasons for this shift.
First, employees often have access to sensitive tools and systems. A phone number linked to an executive, an IT administrator, or someone in finance can be a gateway to internal platforms, private data, or approval workflows.
Second, many businesses still rely on SMS-based verification. When a cloud app, VPN, or finance tool sends a login code to a mobile number, that number becomes a single point of failure. If an attacker controls it, they can slip past security in seconds.
Third, most mobile carriers don’t have strong identity checks in place. It’s surprisingly easy for someone with a few personal details to request a SIM card change or initiate a port-out. This type of SIM card switch can happen quickly, especially if the request doesn’t trigger a suspected fraud alert.
Finally, attackers are doing their homework. They collect information from LinkedIn, company websites, social media, and even leaked databases. With just a few data points, they can build a convincing identity and contact the carrier pretending to be an employee. The more visible someone is online, the easier it becomes for an attacker to fake their way through the process.
These risks make corporate phone numbers valuable targets. A single compromised line can become a direct path into your business.
Why SIM Swapping Is a Real Threat to Your Business
A successful SIM switch against one of your employees can have serious consequences. It gives the attacker access to more than just messages. It opens the door to systems your business relies on every day.
- Account takeovers
Hackers can reset passwords and take control of email accounts, cloud storage platforms, CRMs, and other business tools.
- Data leaks
Private files, internal documents, and chat histories may be exposed or stolen without anyone noticing at first.
- Internal sabotage
An attacker posing as a trusted team member could approve wire transfers, change access settings, or escalate privileges to move deeper into your network.
- Business disruption
Even a brief incident can delay communication, stall projects, and damage your reputation with clients or partners.
Even a single compromised number can create a ripple effect across your organization. And when it comes to SIM swap attacks, it’s far better to be proactive than reactive. Protecting your team in advance is always easier than trying to clean up after the damage is done.
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How to Protect Your Business from SIM Swapping
You can’t stop attackers from trying, but you can make it extremely difficult for them to succeed. Protecting your business starts with tightening control over mobile numbers and reducing exposure points. Here are key steps every company should take:
- Use a provider that limits SIM card switching
Choose a mobile service provider that does not allow SIM changes or port-outs to happen automatically. Providers should offer manual verification steps and require identity checks before transferring any number. If the process is too easy for you, it might also be easy for someone pretending to be you.
- Rely on app-based authentication, not SMS
Avoid sending login codes by text whenever possible. Instead of SMS-based two-factor authentication (2FA), use mobile authenticator apps like Microsoft Authenticator, Duo, or Google Authenticator. These apps generate security codes directly on the device and aren’t tied to the SIM card, which removes a major point of failure.
- Keep employee phone numbers off the public web
Don’t list direct mobile numbers on company websites, press releases, or social media profiles. Use extensions routed through a main line or a contact form instead. The less information an attacker can find, the harder it is to impersonate someone from your team.
- Educate employees on warning signs and tactics
Run regular training on how to recognize phishing emails, social engineering attempts, and signs of unusual account behavior. Encourage employees to use strong, unpredictable PINs and avoid real answers for security questions. A fake answer only you know is far safer than something guessable.
- Create a response plan for suspected fraud
If an employee suddenly loses service, cannot receive calls, or is locked out of accounts, treat it as a possible SIM swap fraud attempt. Make sure there is a clear process in place to verify and respond quickly, including temporary device lockdowns and account audits.
- Review who really needs mobile-linked access
Not every user account needs to rely on a phone number. Audit who has SMS-based two-factor authentication turned on and switch to stronger methods where possible. Start with high-risk roles like IT admins, finance leads, and executives.
- Know the signs of a cloned or switched SIM card
If a SIM card has been cloned or switched, the phone may suddenly stop working. Calls and texts might no longer go through, and accounts linked to the number could start showing suspicious activity. If an employee notices these signs, they should report it to the IT or security team immediately. The internal team can help check for unauthorized changes with the provider, start account audits, and temporarily disable access if needed. For U.S.-based incidents, it’s also recommended to file a report at IdentityTheft.gov to help document the fraud and begin a formal recovery process.
POND IoT Protects Your Phones From SIM Swap Fraud
At POND IoT, we take this threat seriously. To protect our clients, we use a secure, manual port-out process that requires two internal approvals before any number transfer can take place. This multi-step check makes it extremely difficult for unauthorized requests to go through. Each port-out is reviewed carefully by an account manager to ensure that your mobile number stays in the right hands.
Want to learn more about securing your business against SIM-related threats? Contact us today to discuss how POND IoT can help protect your team.