How To Prevent SIM-Swap Fraud – Tips & Tricks

By | November 17, 2016

Do you know what is SIM-Swap Fraud? As technology has advanced like anything in our life and mobile phone is the biggest gift to our humanity. The usage of a smartphone has increased tremendously in our daily life so that we are doing every banking and monetary transaction with the same.

But do ever think what will happen in case your number has been stolen by someone? Your OTP is shared with someone? Within a minute your entire savings can vanish and that’s what is this new mobile SIM hacking called SIM-Swap Fraud.

Tips To Prevent SIM-Swap Fraud

SIM-Swap involves a fraudster issuing a duplicate SIM card which is registered under your name. With a SIM card that shares the same number, the fraudster can stalk and save your bank related information via Mobile Banking transactions.

Tips to prevent SIM swap fraud

I have received this useful tips form my bank and they have explained the step to take necessary care to prevent from this fraud activity and to safeguard your bank account transactions.

  • If you think that your SIM card is not working or out of service then you should immediately contact your mobile operator to check as someone may apply for the same number after blocking yours.
  • Contact your Service Provider immediately as soon as you receive an indication of a probable SIM-Swap
  • Do not switch off your cell phone in the event you receive 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
  • If you have not registered for SMS alert for your banking transactions, then you should do it immediately.
  • Check your bank statements and online banking transaction history regularly so you can identify any issues or irregularities
  • Do not share the 20-digit IMEI number mentioned on the back of the SIM card with anyone.
  • Do not share any SMS alerts like One Time Password (OTP) etc. with anyone. Even if you get some call in the name of bank.

Lack of information and awareness is very dangerous as people taking advantages of that. so one need to be very alert with all the actions and try to secure the SIM card as well the banking transactions through mobile. Did you face any sort of attacks recently? Would you like to share your experience and how you have handle the same by writing a simple comment below? Thanks for sharing your thoughts and also sharing this article on Facebook & Twitter.

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