You must have heard of many types of fraud. You may have also been a victim of online fraud. One such fraud is SIM Swap. In this type of scam, fraudsters gain control of the SIM of the users. But how does this fraud happen, and what kind of trap do the scammers lay to trap people? Today we will discuss all these.
Scammers take advantage of weak two-factor authentication and verification systems. Scammers contact the user telecom operator to trap a user in a SIM Swap trap and can gain control of the SIM by tricking them. For this, scammers activate the user’s number on any SIM they have.
Scammers Will Have Control Over OTP
Once the scammers do this, they will have control of your SIM card. If anyone calls or messages on that number, you will not receive the call but will come to the scammer. This is called SIM Swap fraud, and it is so dangerous that scammers will come to your OTP
In any case, if the scammer logins for net backing using your username and password, he will also get your OTP.
Not only this, but if your phone number is linked to a bank account, then the scammer will not even need your password. He must log in to any digital payment app with the help of your number, and then his work will be done.
How Does SIM Swapping Work?
It is called SIM swapping fraud, in which scammers somehow gain control of your SIM. To gain control over your SIM, scammers first collect details about you. Social engineering methods are used for this.
After getting enough information about a user, scammers contact their telecom operator. Here hackers tell that their (which is the user’s SIM card) SIM card is damaged or lost.
After this, they request to activate a new sim card. In this way, fraudsters get the SIM card of the users. As soon as your SIM card comes into the hands of scammers, they can execute many frauds related to you.
How Can You Survive?
To avoid this situation, you should take care of some things. One should be careful about phishing emails and other online activities. Many mails or messages try to steal your details.
One should be careful of such phishing mails. Use unique and strong passwords to strengthen the security of your accounts.
Keep changing your passwords from time to time. Keep two-factor authentication on for apps so that the login of an unknown person in any app is not easy.
If you feel you have been a victim of SIM swapping, inform your bank and telecom operator immediately, so you do not get cheated.
