Fraudster collects victim's personal banking information.
Fraudster approaches victim's mobile operator with victim's fake identity proofs and obtains a duplicate SIM card.
Mobile operator deactivates the original SIM card replacement SIM.
Fraudster generates the One Time Password (OTP) which comes on the new SIM & carries out account transactions without victim's knowledge.
Tips to safeguard yourself against SIM Swap
If your mobile stops working for unusual reasons, check with your mobile operator immediately
Never disclose Internet banking password/ATM PIN to anyone.
Do not disclose your mobile number and email id on social media platforms.
Use Two-factor authentication.
Never respond to unknown mails or calls asking your account details and registered mobile number.
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The information provided on this blog is for educational and general informational purposes only. While efforts are made to ensure accuracy, no guarantee is given regarding completeness or reliability. The content should not be considered professional or legal advice. All views expressed are solely those of the author.
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