The rule change could create additional reporting requirements for companies.

The sentencing comes two years after six members of the group and their accomplices within mobile phone providers were indicted.

"I don't care," the suspect previously told the New York Times. "They can come arrest me. I would laugh at them. I haven't done anything."

SIM-swapping can lead to identity and financial fraud.

The bust is the latest evidence hinting at the extent to which established organized crime groups are adopting hacking methods.

The stolen funds would be worth $65,000 today, the suit claims.