Beware of ‘SIM Swap’ Fraud
A fraud called SIM SWAP has started.
To initiate the SIM exchange request, a person posing as a Telecom Customer Service Officer will call you claiming to be from a particular mobile service provider and inform you that there is a problem with your current SIM. S/He may even say that your SIM needs to be upgraded. The person may also SMS you a 20-digit SIM Card number which will be under his/ her possession and not yours.
The fraudster will ask you to forward the number to the telecom service provider and will instruct you to reply ‘1’ to the confirmation SMS, that the telecom service provider will send. Fraudster will also tell you that it will take 24 hours to get the new SIM and during this period your SIM will remain de-activated. However, once the confirmation is provided i.e. you reply ‘1’, your existing SIM card will get de-activated and a new SIM card, with your mobile number, which is with the fraudster will get activated.
Using your mobile number, fraudster will then access One-Time Passwords (OTPs) and Unique Registration Numbers (URNs) for all your bank accounts linked with your mobile number and may do fraudulent transactions. You will not be aware of these transactions, as the SIM in your possession is de-activated and you will not get any information from the bank.
HERE’S HOW YOU CAN STAY SECURED:
- Never reveal your personal and bank account details over the phone
- Remember that bank representatives will never ask for personal bank details
- Do not disclose your mobile number on unknown websites
- Check with your mobile operator if you face any uncertain functioning of your phone
- Do not share SMS alerts (such as OTP) with anyone
- Keep a regular track of your bank statements to monitor your transactions
- Register for instant alerts that inform you of any activity regarding your account
- Do not respond to communication asking you to block your SIM.