Warning to change these WhatsApp settings now or ‘you could be RUINED financially’

EXPERTS are warning WhatsApp users to change privacy settings ASAP as financial scams are on the rise.

Scammers are targeting WhatsApp users in an attempt to steal their funds using a method called sim-swapping.

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‘SIM swapping’ is a well-known technique used by fraudsters, where they steal people’s phone numbers and identities and then do the same thing to people on their contact list.

Scammers typically do this by cloning a phone number and then assigning it to a new SIM card, which can let them get hold of sensitive bank details or passwords.

“All a criminal needs is our phone number to set the process of identity theft and extortion in motion,” expert Dmitry Bestuzhev told El Pais.

When users are the victim of a sim-swap, their WhatsApp services stop for a few minutes, however, by the time service resumes the damage is likely already done.

In that short time, criminals could use your phone number to change your email login then lock you out of several apps including WhatsApp and your banking apps, according to WABetaInfo.

WhatsApp, which has more than 2 billion users around the world, has seen a rise of about 120% in account-takeovers over the last year.

Fraudsters are also engaging in more phishing schemes and ransomware attacks against WhatsApp users, according to cybersecurity firm Kaspersky.

Here’s how to protect your account from falling victim to fraudsters.

How to protect your account

To avoid being victims of a sim-swapping or phishing attack, WhatsApp users are urged to set up two-factor authentication.

You can do this by going to WhatsApp Settings > Account > Two-step verification > Enable.

Once it’s enabled you will be prompted to enter a six-digit PIN and confirm it.

However, sometimes hackers can get around two-step verification, so WABetaIfno advises users to also use authenticator apps like Google Authenticator, 1Password, or Authy.

These apps allow you to receive authentication codes in a secure app rather than your text messages, making them inaccessible to anyone with your phone number.

Above all, though, users should simply never share sensitive information with anyone on any platform.

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In other news, personalized smart guns, which can be fired only by verified users, may finally become available to U.S. consumers this year.

Scientists are embarking on a mission to unravel the mystery behind dozens of grisly child mummies buried in an underground tomb in Sicily.

Police have caught an Italian mafia henchman who’d be on the run for 20 years after spotting the fugitive on Google Maps.

This post first appeared on Thesun.co.uk