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New SIM Swap Fraud Exposed! What It Is, How It Happens And How To Prevent It - Everything You Need To Know
SIM Swap Scam: In today's digital world, your mobile number is more than just a contact. It’s linked to your bank accounts, OTPs, and important financial transactions. This makes it a prime target for cybercriminals. SIM swap fraud is one of the latest types of scams being perpetrated by fraudsters to steal money.
SIM Swap Fraud
SIM Swap Fraud: It is a type of scam where fraudsters get a duplicate SIM card of your number by pretending your phone is lost or damaged. Once they get control of your SIM, they can access banking OTPs, transaction alerts, and confidential details to steal your money.
How It Happens
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How It Happens: Scammers first collect your personal and banking information using phishing emails, fake calls, or malware. Then, they contact your telecom company, claiming your SIM is damaged or lost. Sometimes, they even use fake documents or collude with telecom staff to get a duplicate SIM.
SIM
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Once the new SIM is activated, all your banking alerts and OTPs start going to them, allowing them to make transactions without your knowledge.
How To Protect Yourself
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How To Protect Yourself: Here are some tips to protect yourself from SIM swap fraud:
-- If your phone suddenly loses network or stops receiving calls/SMS for a long time, contact your mobile operator immediately.
-- Never click on unknown links or share confidential details like Aadhaar or SIM numbers.
-- Keep your bank alerts active, check your statements regularly, and set withdrawal limits.
Inform Your Bank
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If you suspect fraud, inform your bank immediately and block your accounts.
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