SIM Swap Fraud: What is SIM Swap Fraud? One mistake can make your account empty, so know how to avoid this!
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Without a SIM card, the mobile phone is of no use. The SIM card enables communication, Internet access, and many other functions. It is required to make calls, use the internet, send money, and receive OTP for various services. However, in this age of technology, it can also be exploited by cyber criminals, resulting in SIM swap fraud. This article is to protect yourself from such fraud.
Female lawyer fraud:
Reports indicate that a SIM swap fraud case occurred in Delhi where a female lawyer's account was targeted. He received three calls and shortly afterward came to know that lakhs of rupees had been withdrawn from his bank account. He did not answer the call, yet he suffered financial loss. At present the police have started investigating this matter.
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What is SIM card swap fraud?
SIM swap fraud involves the unauthorized replacement of your mobile SIM card. Cybercriminals usually collect your information through social media, phishing, and other methods. By speaking in your name, cybercriminals give confidence to the telecom company and get a new SIM issued. Once they have the new SIM card, your old SIM card is deactivated, and they gain access to all the OTPs and SMS set for you, effectively compromising your accounts and information.
Protect yourself from SIM swap fraud:
Consider the following precautions to protect yourself from this type of fraud:
Be cautious when sharing personal information on social media: Be careful about the personal information you share online, as cybercriminals can use it to target you.
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Change your banking account password: If your phone turns off unexpectedly, change your banking account password immediately to prevent unauthorized access.
Register your email for banking transactions: Apart from SMS, also consider using your email to receive banking transaction alerts and OTPs.
Report Fraud Immediately: If you suspect fraud or unauthorized activity, immediately report it to the Cyber Crime Portal (https://cybercrime.gov.in/).