SIM Swap Fraud: One mistake and you will lose your SIM card, know how to avoid SIM swap fraud..

In today's era, our mobile number has become an important part of our identity, but this number is now also becoming a medium of fraud. Recently, SIM swap fraud is suspected in a major cyber attack on Britain's leading company M&S (Marks & Spencer). Due to this attack in April, the company had to stop online orders, and work in stores was also disrupted. The company may suffer a loss of about 300 million pounds due to this attack.

What is SIM swap fraud?

When you buy a new phone or a new SIM card and want to transfer the old mobile number to it, you contact the mobile service provider. Cybercriminals misuse this process. They collect so much information about you like your mother's name, first pet, school name, etc. that they get your number transferred to their SIM card by introducing themselves as you.

How does a SIM swap cause a big loss?

If criminals control your number, they can make calls and SMS in your name, log in to your bank, email, or social media accounts, because you have linked the OTP to the mobile number for two-level security (2FA) in these accounts, and now the criminal has that number. In this way, they can access all your digital life.

SIM swap attacks have seen a 1,055% increase in the year 2024. This fraud is complex, but very effective in targeting high-profile people. Former Twitter CEO Jack Dorsey has also fallen victim to it.

How to avoid SIM swap fraud?

Do not share personal information on social media.

Information like your date of birth, school, and parents' names can help in fraud.

Use authenticator apps instead of mobile numbers for OTP.

Like Google Authenticator, Microsoft Authenticator etc.

Use a passkey

Use a fingerprint, face lock, or a strong passcode on your phone.

If the number is switched off or the signal is gone, be alert immediately.

This could be the first sign of a SIM swap.

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