Phone porting is a form of identity theft. It involves scammers ‘porting’ or transferring your mobile number to another device or telecommunications (telco) provider.
Porting is a legitimate service that allows you to set up your mobile number with a different telco provider. Criminals take advantage of this, by contacting a separate provider and requesting your number be transferred.
Once the number has been transferred, scammers will receive text messages addressed to your mobile number. This includes verification codes or password resets, for any accounts that are connected to your mobile number. From here, they can access and change passwords to your email and banking accounts, and government portals like MyGov.
Scammers often use information that's usually available on your social media accounts, like your full name, date of birth, and mobile number. Once they have access to this information, they can go on to prove to a telco that it really is you trying to port your number, and go on to authorise financial withdrawals or transfers to themselves.