SIM swapping is a novel criminal modus operandi which uses copied SIM cards for the purpose of taking over a mobile service subscription and thereby accessing sensitive personal and financial data. Authorities around the world have reported a surge in SIM Swapping crimes, mainly driven by criminals taking advantage of the increasingly virtual lifestyle precipitated by the COVID-19 pandemic. This study examines related cases around the world, and categorizes them according to their specific modi operandi, as well as the initial responses of national authorities to this emerging crime. By analyzing the dynamics of this new crime trend, this study aims to propose preemptive and preventative measures to address this new threat. Research has identified three main steps in SIM Swapping crime: 1) personal data theft, 2) fraudulent copying of SIM card, and 3) exploitation of falsely-obtained mobile service for perpetration. Research has also found that the subscriber authentication procedure involved in replacing a SIM card is vulnerable to identity theft, especially in jurisdictions which have implemented eSIM. Therefore, it will be upon governments to enforce a stronger user authentication and information security regime for mobile carriers, introduce an online payment system devised with a data-sharing mechanism connecting mobile carriers and financial services, and raise public awareness on SIM Swapping and information security in general.