How does your phone number secretly unlock a vault to all your savings? For criminals with the right information and a lot of hubris, it’s surprisingly simple. In this episode, we’re telling the story of SIM-swapping:  the theft of mobile phone numbers which hold the key to all of our data, and for a lot of us, all of our money.

For so many people, a mobile phone is one of the most important belongings we have. It’s almost like a second brain: a phone is how we connect to work, family and friends, it’s an assistant, a map, a creative tool, and it’s the key to a flood of personal information. If your phone goes missing, it’s annoying, but it’s replaceable. Except, what if your phone doesn’t go missing, but your phone number does? That’s when everything you do online - including banking and investments - can become vulnerable to hackers looking for big payouts. 

This is the tale of the first-ever convicted SIM-swapper, a young college student named Joel Ortiz who stole over 7 million dollars worth of cryptocurrency, and invaded the lives of more than 40 victims, all through their phone numbers. It’s also the story of Joel’s co-conspirators, a group of young hackers that called themselves The Community, and their victims who suffered devastating, life-changing losses. At a time when mobile phones are the skeleton key to our lives, sim swapping is a crime that everyone needs to learn more about. 

About the Show

Nickel & Crime takes you deep inside the true stories of the shocking scams that white collar criminals almost got away with. At a time when fraud is on the rise, and financial crime is increasingly sophisticated, go behind the investigations to understand the victims, the criminal minds at work, and the risk. 

In season 2, Nickel & Crime returns with mind-blowing new crimes, and immersive, stirring details. Each episode dives into the victims, the set-up, the sting, and that bold blunder that unraveled it all.  

Hear about a billion-dollar tax fraud that sucked in some of the world’s most savvy investors, or the tales of the real victims and perpetrators of "grandparent scams". We’ll also bring you stories from the bizarre world of job phishing. 

From identity theft to social engineering attacks, and Ponzi schemes, Nickel & Crime breaks down some of the most fascinating and insidious financial crimes of the last decade and examines what new crimes are coming our way. 

About Early Warning

Nickel & Crime is brought to you by Early Warning®, a financial services technology leader that has been empowering and protecting consumers, small businesses, and the U.S. financial system with cutting-edge fraud and payment solutions for more than three decades. Early Warning is also the company behind Zelle®, and the soon-to-launch PazeSM, a wallet that reimagines e-commerce payments. Early Warning partners with more than 2,500 banks and credit union brands to increase access to financial services and products and protect financial transactions.  

Learn more about Early Warning at https://www.earlywarning.com/ 

What financial crimes fascinate you? What questions do you have about risk and security? Connect with Nickel & Crime by commenting in the reviews, or email us at nickelandcrime@earlywarning.com