'SIM-swap' fraud: What you should know to secure your bank account

  • | Monday | 18th November, 2019

In both scenarios, the gang applies for a duplicate SIM card in the victim’s name and transfers money from the bank account linked to the victim’s mobile number. The company bank account was linked to his mobile number. “They would write to the mobile service provider stating that the mobile was lost and they should block the mobile number immediately. The service providers only ask basic questions such as the mobile number and the name of the person with whom the number is registered. The fraudsters also create duplicate bank websites and when an individual enters the website, he provides it with all the bank details that can be captured by the fraudsters.

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