A new form of fraud is doing rounds in the market called the SIM swap fraud and a number of people have already been victims of it. Before we get to the precautions and functioning of this fraud, you should know what this fraud actually is.
SIM swapping is typically a type of fraud that falls under social engineering. It is a form of cybercrime in which fraudsters circulate phishing emails and try to collect the personal information of the users.
The criminals trick vulnerable smartphone users and end up smuggling their money in a matter of minutes. They use the personal information by requesting for a SIM swap from the mobile network providers where customers exchange SIM cards.
The scam is currently prevalent in Kolkata, Bengaluru, and Delhi and many victims residing in these cities have reported this scam in their city police stations.
However, here are some measures to ensure protection from this scam for users.
- Be extremely careful while revealing personal information on the internet.
- Use apps and services that ensure the safety of personal information and do not need any SIM authentication.
- Use SMS as less as possible for authentication with the banks.
- Verify with your mobile network provider to ensure that no SIM cards are issued to anyone without your knowledge.
- In case, you stop receiving calls or texts from suddenly from your service provider, reach out to him and check if there is anything like this happening.