Now that many online services rely on sending SMSes to your phone to authenticate your identify, thieves and stalkers have created a whole "SIM swap" industry where they defraud your phone company or bribe employees to help them steal your phone account so they can break into all your other accounts.

The DOJ has indicted three former Verizon and AT&T employees for alleged membership in a crime-ring known as the "The Community"; the indictment says the telco employees helped their confederates undertake "port-out" scams (AKA "SIM-swapping" AKA "SIM hijacking"), which allowed criminals to gain control over targets' phone numbers, thereby receiving SMS-based two-factor authentication codes.

Senator Ron Wyden [D-OR] (previously) has introduced the Consumer Data Protection Act, which extends personal criminal liability to the CEOs of companies worth more than $1B or who hold data on more than 50,000,000 people who knowingly mislead the FTC in a newly mandated system of annual reports on the steps the company has taken to secure the data.

Online services increasingly rely on SMS messages for two-factor authentication, which means on the one hand that it's really hard to rip you off without first somehow stealing your phone number, but on the other hand, once someone diverts your SMS messages, they can plunder everything