5:28 pm - Tuesday March 28, 2017

Tips to safeguard yourself against SIM Swap

beware-sim-swapWhat is SIM Swap?

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Fraudster collects victim’s personal banking information
Fraudster approaches victim’s mobile operator with victim’s fake identity proofs & obtains a duplicate SIM card
Mobile operator deactivates the original SIM card post successful verification & issues a 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

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If your mobile stops working for unusual reasons, check with your mobile operator immediately
Never disclose Internet banking password/ATM PIN/Telephone PIN to anyone
Do not disclose your mobile number on social media platforms
Register for both SMS as well as e-mail alerts to stay informed about transactions on your account
Never respond to unknown mails or calls asking your account details and registered mobile number

 

Filed in: Finance, Financial News

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