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All you have to know about SIM Swap Fraud


All you have to know about SIM Swap Fraud, What is Mobile Phone SIM Swap fraud and how to protect your Bank Account?, Now a days Mobile has become an interface to communicate with the world. No matter where you are you can use it for almost all the needs of your daily routine. With the increasing opportunity to avail the services of banks on mobile every one started using the banking services in their phone. This scenario has resulted in many consequences both positive and negative. One of the serious problems is lacking the security over the transactions being done using mobiles. Sim swap fraud has become a major threat to the online banking users.

SIM Swap Fraud:

As the name suggests the scammers first

1.Gathers the personal information of the users by various ways called as Phishing , vishing, smishing and any other means.

2.Making the existing registered phone number deactivated from the bank account profile.

3.Getting a new sim registered with the bank.

4.Getting the funds transferred from the bank using the authority creadted by the registered mobile number.

A. The culprit will steal the personal details from various ways as

Phishing :

This is a method of committing fraud bu way of sending emails to the users .Fraudsters send an email to the users on the name of the company or banking organsiation or any other form to get the details of personal information like passwords, credit/debit card details.

Smishing :

This is a type of phishing where short message services are sent to the mobile number which contain some links.If you click on the link then the personal information of the individual which has been already saved in the mobile in various apps will be sent to the fraudsters.


Vishing is the use of telephone calls to collect the sensitive private information of the individuals.

Getting the existing SIM deactivated

Under the pretext of losing the mobile handset, new handset or damaged SIM card, fraudster approaches mobile service provider by creating a fake identity of genuine customer. Then they will deactivate the old sim. Later he will request the mobile operator to issue him a new sim with same number on the above said grounds. This results the genuine user to get his sim deactivated from the service and further he can not get the SMS alerts from the bank.

Fraduster executes the transaction from the bank as the SIM he obtained from the mobile operator by submission of the fake identity of genuine cutomer is with him to which the bank will send the details of one time password etc.,

In this way the fraudster does the transfer and withdrawal of funds from your bank before you will get aware of this.

How this can be avoided:

  1. Do not open or follow the emails that you get stating that you won a lottery etc., they send you a link. Never open that link.
  2. Beware unsolicited calls, texts or emails asking for personal or financial information even if they appear to be from your bank or reputable company.
  3. Register your mail id along with mobile number for getting SMS alerts so that you can be better get to know about the frauds that may happen in the future.
  4. Do n t reveal your personal information to any one. Strictly follow the tips given by banks for secured banking.
  5. Banks will never call you for your password, Keep this in mind when you get a call stating that from bank required password details.
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