Some carriers allow only in-store changes

In some instances, a company may restrict customer accounts so changes can only be made in the store with a government-issued ID, says Kevin Lee, who is pursuing a doctorate in computer science and is co-author of the Princeton report.

T-Mobile says its account holders must choose a 6-to-15-digit PIN, and that a customer’s phone number cannot be ported without verification of that PIN. T-Mobile also offers what it calls Account Takeover Protection, which adds additional security to accounts by blocking unauthorized users from transferring your lines to another wireless carrier. AT&T similarly lets you create a unique passcode you’ll have to provide before account changes can be made, including port requests initiated by another carrier.

Cash App, which is owned by Square Inc. and not a bank, recently unleashed an artificial intelligence-driven feature that it says flags potential spam or scams for payments in the app.

But you can take steps as a smart consumer to minimize the risk. Here’s what experts suggest.

Don’t give out personal info

• Don’t reply to calls, emails or texts that request personal information. If you get such a request for account or personal information, contact the company directly on your own, using a phone number or website you…

Read more…