What is SIM Swap Fraud?
Nowadays most of the banking services are done
through Smartphone Apps using 2FA(2Factor Authentication) and OTP ( One
Time password ). In SIM-Swap Frauds, the fraudsters try to get duplicate SIM
card from telecom operators in context of lost SIM or connivance(मिलीभगत) with
their telecom representatives and then access such confidential information
sent by the bank.
How do Fraudsters get your Mobile number?
- Fraudsters get your number by using Phishing Attacks ( Look Alike Websites like your genuine Banking Websites ) , by sending messages, e-mails that appears to be from legitimate ( वैद्य ) source.
- Fraudsters try to pretend to be telecom operator that they have lost the handset and that they need a new sim.
- Fraudsters produce false documents and try to convince the telecom operators for issuing a new sim.
How to prevent a SIM Swap?
- Enquire with your mobile operator if you have no network connectivity and you are not receiving any calls or SMSes for unusually long periods.
- Do not neglect messages sent from your network provider that highlight a probable SIM-Swap Remember to respond quickly to such messages.
- Use a Password manager , do not save passwords in browser like Google Chrome. Use TrueKey Password Manager free from McAfee [a renowned Antivirus]
- Never switch off your smartphone in the event of you receiving numerous unknown calls. It could be a ploy to get you to turn off your phone and prevent you from noticing a tampered network connection.
- Register for instant alerts (both SMS and Emails) that inform you of any activity in your bank account.
- Check your bank statements frequently
to identify irregularities.
Very well explained
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