What is 'SIM Swap' scam and how to protect yourself
In an unusual event, a woman from Delhi lost Rs. 50 lakh to a new scam on the rise in India called 'SIM Swap' scam. The 35-year-old advocate lost the amount from her bank account after receiving three missed calls and subsequent text messages notifying her of the debited amount. According to The Indian Express, she did not share any OTP or personal information with anyone, yet the funds were withdrawn from her account.
Here's what happened
The victim received three missed calls from an unfamiliar number. She then called back on the number and the caller posed as a courier service representative. The victim then shared her address with the caller. Shortly afterward, she received two messages informing her of a Rs. 50 lakh debit from her account. During the investigation, unusual web history was discovered on her phone, showing visits to websites she hadn't accessed herself. Additionally, investigators found a suspicious message regarding UPI registration.
How does the scam work?
In a SIM Swap scam, the perpetrator gains control of the victim's SIM card, often with the help of an insider at the mobile service provider or other deceptive methods. By convincing the network provider to activate their own SIM card, the scammer takes over the victim's phone number. This access allows the scammer to intercept all incoming calls and messages. Using the victim's phone number, the scammer gains entry into their bank account and commits theft.
Warning signs and precautions
To safeguard yourself from SIM Swap scams, refrain from posting personal details online, such as your address or identification documents like Aadhaar card or PAN. Always confirm the identity of an individual before sharing sensitive data with them. If your SIM card suddenly stops functioning, immediately notify your telecom provider. Moreover, never reveal OTPs to people claiming to be officials or banking representatives, as this information could be used in SIM Swap scams as well.
Staying safe in a digital world
As scammers continue to develop new methods to exploit unsuspecting individuals, it is essential to stay alert and take necessary precautions. Educate yourself about various scams and exercise caution when sharing personal information. By remaining informed and taking appropriate steps, you can prevent yourself from falling victim to scams such as the SIM Swap scam.
