I would add that there's a company called EnStream, which is a joint venture of the major telcos. One of the services they offer is identity verification to prevent things like SIM swap fraud. This is a product that they sell to the banks.
I've spoken to some folks on the cybersecurity teams in the banks, and they know SIM swap fraud well, because banks are the ones who ultimately pay for it. They're the ones who are compensating for the credit card losses, other thefts and things like that. Banks are being sold a product by the telcos whereby the telcos can help identify frauds. There's this kind of perverse organization that exists.
Some other countries have done some of the stuff that you're alluding to. For example, they will block bank transactions after a port. There will be a bit of a freezing window. They know that there's a high risk of things like that.
There are connections between bank, telcos, privacy and security in the enabling of these frauds.