7:33 pm - Tuesday March 26, 2019

Tips to safeguard yourself against SIM Swap

beware-sim-swapWhat is SIM Swap?


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


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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