Amid the soaring cases of cyber crimes happening in the city, the fraudsters seemed to have found a new modus operandi to cheat people in the SIM swap fraud. The Mumbai Police cyber officials have learnt that the fraudsters are sending imposters to the mobile operator company and swapping the SIM cards, only to get access to the One Time Password (OTP) of the victim's bank transactions. Recently, a Matunga-based businessman lost ₹7.7 lakh to a SIM swap fraud.
In the SIM swap fraud, fraudsters get a new SIM card issued against the victim's registered mobile number via the mobile service provider. With the help of this new SIM, they can get OTPs and other alerts required to carry out financial transactions through your bank account. As frauds of this nature are on rife, police learnt during the investigation that the fraudsters have been getting their hands on the AADHAAR card copies, sending a person posing as the victim, who has a stinking resemblance, only to obtain a fresh SIM card with the same number, invalidating the original SIM card in the victim's phone.
A cyber official said that after getting access to the SIM card, they are able to receive the bank alerts, texts and OTPs, only availing ease in fraudulent bank transactions without any hassles, while the victim on the other end is confused as to why he lost network suddenly, simply being under the impression that there must be a 'network issue'.
In one such recent case of SIM swap, a 34-year-old businessman, had received a call from a private bank on February 8, wherein the caller told the complainant that his debit card was blocked and sought details like his registered email ID and mobile number, debit card number. The businessman obliged and shared the details, only to later find out that his mobile services were suspended within three hours of the call.
On the same day, the complainant had received an email, alerting about a request for a change in online banking's password, which the businessman checked only on February 11. Meanwhile, when the mobile services of the complainant resumed on February 10, he was shocked to find a message from the bank, intimating him that the balance in his account was a mere ₹7,716, as he had ₹7,71,048 in his account.
The businessman immediately rushed to the bank and got his passbook updated, only to find out that ₹7.70 lakh was debited from his account. Moreover, upon contacting the mobile service operator, the businessman learnt that a request was processed from another number to discontinue the services of his mobile number, which is why he had no network for a couple of days.
Realising that he had been duped, the businessman approached Matunga Police and acting on his complaint, a case of cheating, impersonation was registered against the unidentified accused, who cheated him by using the modus operandi of SIM swap. While police are investigating the matter, no arrests have been made yet. Police have subsequently approached the bank's nodal officer to recover the amount via stop payment gateway.
How to protect yourself from fraud?
- Beware of social engineering tactics (vishing, phishing, smishing) which aim to steal your confidential and personal data.
- If your mobile number is inactive / out of range, inquire with your mobile operator immediately.
- To avoid the worst-case scenario, immediately change your bank account password.
- Register for regular SMS as well as email alerts for your banking transactions. (This way, even if your SIM is deactivated, you shall continue to receive the alerts via your email)
- Periodically access your bank account statement to ensure that the transactions reflected in the statement have indeed been made by you.
- In case of a fraud, contact phone banking immediately to have your account blocked and avoid further fraud.
