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Things to know about SIM swap fraud?

How to be safe from SIM swap fraud? Tips !



 SIM swap fraud is a  sophisticated form of cyber fraud that allows hackers to gain access to bank accounts, credit card numbers, and other personal data. The SIM swap cases were reported in the US and Europe in 2013 and now it's in trend in India. Many people have lost their valuable money due to sim swapping fraud .
Many cases are reported in media about people losing money to sim swap fraudsters.Best way to avoid such incidents is to educate yourself and be aware.

 check book on "Prevention of Cyber Crime and Fraud Management"

What is a SIM swap fraud?


 Nowadays, all the bank accounts linked to your mobile numbers and most of the banking services are available on the mobile phone. For online transactions, one needs One Time Password (OTP), Unique registration number (URN), 3D secure code etc. which is all provided through the registered phone number of users.
Fraudsters acquire your personal details by tricking you or by hacking.Then they use that personal information to make a fake ID proof.Using the fake Id,they apply for a new sim card with your details.

How Sim swap fraud happens?
  • sim swap fraudsters may call you pretending to be representative from your telecom operator ,or bank personnel and ask for your personal details .They may ask  you to send SMS to the telcom provider ,which is actually SMS requesting to upgrade sim or allot a new sim.The next thing is frauster ask for the OTP ,that sent to your message confirming the request .It's to be noted- noone ever ask for your otp ,not even banking personnel / telecom operators.
  • SIM swap fraudsters would send phishing mail impersonating credit card companies/health insurers to take out legal names, dates of birth, addresses, and phone numbers of their targets. They also collect personal data of the users from social media platforms or through Trojans/Malware.
  • Next, they would call the mobile service provider of the victim and request a new SIM claiming they have lost mobile handset, or got a new handset or damaged SIM card. Using the personal data of the victim, fraudsters manage to get a new SIM card issued for the registered mobile number of a user. Once a new SIM card is issued, the mobile service providers deactivate the old SIM card, which in SIM swap fraud case is in customers possession. Now, the victim will not receive any SMS on their phone.
  • Once criminals have access to a victim's phone number, they target bank accounts. For most of the online banking services such as password reset, online money transferring (NEFT, RTGS etc.), you need One Time Password (OTP). Since they have access to victims mobile number they can easily use the URN/OTP & alerts required for doing financial transactions through the bank account.

How to be safe from SIM swap fraud?


  1. The first warning signal can be your mobile network. If your phone is out of network continuously for a few hours, it's an alert and you should complain the same to your mobile operator immediately.
  2.  Never share your personal details like OTP,debit card details with anyone.
  3. Check messages sent by the telcom provider.Because if someone other than you requested to change sim card ,that is notified to the customer via message.So you can be informed and cam take timely measures.
  4. Check your bank account statement regularly and also register for both email and SMS alerts for your banking transactions.
  5. The 20 digits SIM number mentioned on the back of the SIM card is crucial.Never share it with anyone.
  6. Do not put your mobile number on public display on social media or any other websites.

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