SIM-Swap Scams in Georgia
SIM-swap attacks in Georgia target mobile banking and crypto users by porting phone numbers to fraudster-controlled SIMs to intercept two-factor authentication codes.
Part of: SIM Swap Scams
Last reviewed: 1 June 2026
Mobile banking is deeply embedded in Georgia's financial ecosystem, with the country's leading banks — TBC Bank and Bank of Georgia — providing comprehensive mobile applications used by the majority of the banking population. This reliance on mobile banking makes SIM-swap fraud particularly damaging in the Georgian context, as a successful SIM swap can provide complete access to victims' bank accounts.
Crypto holders in Tbilisi's tech community are also at elevated risk, as exchange accounts secured by SMS two-factor authentication become fully accessible once a phone number is ported to a fraudster's SIM.
How this scam works on Georgia
An attacker gathers personal information about the victim through social media, data breaches, or phishing. They then contact the victim's Georgian mobile carrier — Magti, Geocell, or Beeline — posing as the account holder and requesting a SIM replacement, citing a lost or damaged phone.
Once the number is on the attacker's SIM, they reset passwords for TBC Bank, Bank of Georgia, and crypto exchange accounts, intercepting SMS verification codes. Funds are transferred within minutes. The victim typically notices only when their phone stops working or transaction alerts arrive for unknown activity.
Georgia's digital nomad and tech expat community, who often rely heavily on mobile banking and hold crypto assets, are particularly targeted.
Common red flags
- Your phone unexpectedly shows no signal or 'SIM not provisioned' without apparent cause.
- Transaction alerts or password-reset emails arrive for actions you did not initiate.
- You are logged out of your bank app or crypto exchange unexpectedly.
- Your carrier sends a notification about a SIM change you did not request.
How to protect yourself
- Add a SIM-lock PIN or additional security to your carrier account — call Magti, Geocell, or Beeline to set this up.
- Migrate two-factor authentication from SMS to an authenticator app wherever possible.
- Use a strong, unique password for your email account — it controls access to all other accounts.
- Contact your carrier immediately if your phone loses service unexpectedly.
- Enable biometric authentication on banking and crypto apps.
How to report it
- Call your carrier immediately to deactivate the fraudulent SIM.
- Report to the Georgian Police cybercrime unit.
- Contact TBC Bank (995 322 27 27 27) or Bank of Georgia (995 322 44 44 44) immediately if banking accounts are affected.
Frequently asked questions
How can I protect my TBC or Bank of Georgia account from SIM swap?
Contact your bank to enable in-app or biometric-only two-factor authentication rather than SMS codes. Also contact your mobile carrier to add a port-freeze or SIM-lock PIN to your account.