Spanish Cops Bust SIM Swap Fraud Gang
Members intercepted SMS codes to access victim bank accounts
SMS is used for login codes and alerts, but text messages can be intercepted, spoofed, or redirected through phone-account attacks.
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Background for this topic.
SMS (Short Message Service) is a standardized mobile-network service for sending short text messages between phone numbers. It is widely used for person-to-person communication, service notifications, and one-time authentication codes, but messages are generally not end-to-end encrypted and may be visible to mobile operators or infrastructure handling delivery.
Security concerns include smishing—phishing delivered by text—along with sender-ID spoofing, malicious links, and social engineering. Account recovery and SMS-based multi-factor authentication can also be undermined when an attacker takes control of a phone number through SIM swapping, abuses carrier processes, or exploits signaling-system weaknesses. Organizations should avoid treating SMS as a high-assurance authentication factor where stronger options are practical, restrict sensitive content in texts, monitor number-change and authentication events, and train users to verify unexpected messages through a trusted channel.
Members intercepted SMS codes to access victim bank accounts
Vodafone Portugal suffered a cyberattack causing country-wide service outages, including the disruption of 4G/5G data networks, SMS texts, and television services. [...]
A financially motivated campaign that targets Android devices and spreads mobile malware via SMS phishing techniques since at least 2018 has spread its tentacles to strike victims located in France and Germany for the first time
The Medusa Android banking Trojan is seeing increased infection rates as it targets more geographic regions to steal online credentials and perform financial fraud. [...]
The Roaming Mantis SMS phishing campaign has finally reached Europe, as researchers detect campaigns targeting Android and iPhone users in Germany and France with malicious apps and phishing pages. [...]