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by kube-system 68 days ago
The issue goes far beyond foreign telco operators.

1. It is quite easily to accidentally take over someone's account(s) on various mobile apps when you get a new phone number these days. Many apps will allow you to log in with your phone number, reset password or do one-time login via SMS, etc. Some even do it automatically as a convenience. This isn't an edge case issue -- this happens on several of the top social media platforms, etc.

2. SIM swapping is still a viable fraud vector for identity theft and financial crime.

3. It is very vulnerable to phishing, and its prevalence only has exacerbated that.