Using a SIM swap, fraudsters can get a new SIM card that contains your mobile phone number registered through the mobile service provider.
- Fraudsters can get a new SIM card containing your registered mobile number
- Fraudsters can also easily get your bank details
- Take the necessary action by reporting this instance to your mobile network provider
Nowadays, mobile banking has become more mainstream than online banking because mobile banking is very simple and people can log into their bank account anytime. Anyone can verify financial transactions in one go. You can log into your banking app with just one click. All you need to do is enter a one-time password (OTP). This further increases the vulnerability as scammers and cheaters can perform a SIM swap / swap and successfully get an OTP or alerts coming to your phone number.
Using a SIM swap, fraudsters can get a new SIM card that contains your mobile phone number registered through the mobile service provider. After obtaining your mobile number, fraudsters can easily obtain your bank details through phishing or malware practices.
ICICI Bank said in a recent tweet: âStay alert and take necessary action by reporting this instance to your mobile network provider and tracking your network status. Beware of SIM Swap fraud. your phone! These could be scammers preventing you from noticing a corrupted network connection. ‘
How do you keep your ICICI mobile banking services secure?
1. Do not reveal your bank details to anyone
2. Always remember that bank staff will never ask for your personal bank details.
3. Do not share OTPs with anyone
4. Some network operators alert their customers via SMS against the exchange of SIM. In this case, contact your mobile operator immediately.
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5. Do not turn off your phone after being irritated by unknown or unwanted calls. Don’t take those calls.
6. Sign up for alerts (SMS and email) to see any activity happening on your bank account.
7. Always keep an eye on your transaction history.
8. Don’t forget to check with your bank to see if the customer service managers are calling you.
How does SIM swap fraud work?
Scammers can steal all of your bank details and gain access to your account and initiate financial transactions that you are not aware of. All alert and payment confirmation SMS will be sent to the fraudster.
The SIM card exchange can occur through phishing emails. Any fraudster can get all your banking information through SIM swap and can also steal your identity and create fake ID documents.
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