Do you know your bank and card accounts can be compromised by swapping SIM without your knowledge?
What is SIM Swap?
Fraudster collects victim’s personal banking information.
Fraudster then 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.
How to safegaurd yourself from this fraud?
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.
If you receive any suspecious transaction alerts immediately contact your bank and secure your account