1,055% surge in unauthorised SIM swaps as mobile and telecoms sector hit hard by rising fraud

• Nearly 3,000 cases of SIM swap fraud risk cases reported in 2024
• Identity fraud in telco sector rises by 87% in last 12 months
• Facility takeover jumps 76%, with nearly half targeting mobile phone accounts

Cifas, the UK’s leading fraud prevention service, has today raised the alarm on SIM swap fraud, with cases surging by 1,055% in 2024. The stark warning comes as part of the organisation’s annual Fraudscape report, which paints a grim picture of escalating threats across the mobile and telecoms sectors.

Nearly 3,000 cases of unauthorised SIM swaps – where criminals hijack a victim’s mobile number by porting it to a new SIM without their consent – were filed to the National Fraud Database (NFD) in 2024, impacting multiple telecoms providers. Once in control of a victim’s number, criminals intercept calls and messages, including crucial two-factor authentication codes, enabling further fraudulent activity to take place, such as account takeovers for apps and other forms of identity theft.

The latest Fraudscape report reveals that in 2024, a record-breaking 421,000-plus cases were filed to the NFD – the UK's largest and most comprehensive database of fraud risk data and intelligence. The telecoms sector has emerged as a primary target, with identity fraud linked to mobile products up 87%, reflecting a surge of more than 16,000 cases.

In addition, facility takeover fraud – where criminals take control of an individual’s accounts – soared by 76%, with telecoms and online retail the most affected sectors. Notably, 48% of all account takeover cases in 2024 involved mobile phone accounts. Filings concerning unauthorised mobile upgrades rose by 96%.

Older consumers remain a target. Those aged 61-and-over now make up 29% of all account takeover cases, with filings about this demographic rising by 90% year-on-year.

Simon Miller, Director of Policy, Strategy, and Communications at Cifas, said: ‘Our latest figures underscore the urgent need for collaboration and the sharing of data and intelligence across sectors to tackle fraud.

‘In the mobile and telecoms sector, criminals are exploiting vulnerabilities in the system to assume control of people’s mobile identities – with devastating consequences.

‘At Cifas, we enable our members across all sectors – including telecoms, banking, retail and insurance – to share crucial information, helping prevent over £2.1 billion in losses last year alone. Together, we can outpace the criminals.’

Cifas urges consumers to be vigilant; monitor mobile accounts for unexpected changes and look out for notifications recommending security PINs or passwords from their telco providers. Businesses, meanwhile, should adopt stronger identity verification methods and continue sharing threat intelligence across industries.

Download the Fraudscape 2025 report.

Telco and mobile operators can identify potential fraud in their existing customer base by implementing Cifas’ innovative solution, Vision. Providing real-time alerts, Vision helps prevent fraud losses and ensures organisations are aware of any changes in a customer’s behaviour so they can investigate and act at the earliest opportunity. Learn more about Vision.

ENDS

Notes to Editors

For more information, please contact Hayley Paterson, Cifas Press and PR Manager, on 020 4551 7072 or press@cifas.org.uk.

About Cifas

Cifas is the UK’s leading not-for-profit fraud prevention service with over 775 members from across key economic sectors including banking, retail, insurance, and telecoms. Cifas protects businesses and individuals from fraud through the sharing of data and intelligence sharing between the private, public and third sectors. In addition to providing products and services – which helped businesses prevent more than £2.1 billion in fraud losses in 2024 – Cifas delivers specialist training through its Cifas Fraud and Cyber Academy and Digital Learning programme.

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About Fraudscape

Fraudscape is Cifas’ annual report which combines data from its National Fraud Database (NFD) and Insider Threat Database (ITD), alongside intelligence provided by Cifas members, partners, and law enforcement.

Contact us at press@cifas.org.uk