Call for Stricter Penalties on SIM Card Fraud in Canada and EU

According to Foresight News, crypto investigator ZachXBT has highlighted the need for harsher penalties for SIM card swapping and social engineering fraud. He criticized the lenient legal frameworks in Canada and the European Union, which allow perpetrators to evade significant punishment. Many offenders are minors, which further shields them from severe consequences, and their identities are often protected. ZachXBT revealed that in 2020, a 17-year-old Canadian named Cameron Redman was involved in a SIM card swapping attack that netted $37 million. Redman's full name and photo were not publicly disclosed until ZachXBT exposed them following Redman's involvement in phishing and account takeover activities.