Security Research Labs (SRL) states that SIM cards in smartphones could be utilized by hackers to gather online banking account information.
Indeed, an estimated 500 million subscriber identity module (SIM) cards have been identified as having vulnerabilities that allow remotely controlled attacks to occur.
SIM cards are “tiny computers that store crucial cryptographic data.”
SIM cards store data on user’s such as phone number, private login and billing information. This includes details about a user’s PayPal and credit card numbers so that the hacker can infiltrate all financial records of individuals.
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