Tips to protect yourself from Sim Swap Fraud

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Have you heard about SIM Swap fraud also known as Port-Out scam or SIM splitting. Basically it is a type of account takeover fraud, which targets a weakness in two-factor authentication & two-step verification.

How Sim Swap fraud works ? 

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You will receive a call and person will speak as your network provider (fraud) and tell you to port your sim otherwise you will lost your network or any other reason. And will try to convene you to share your 19 digits number, written on your sim card.

Once the fraudster has obtained these details they will then contact mobile telephone provider.  They use social engineering techniques to convince the telephone company to port the phone number to the fraudster’s SIM. For example, by impersonating the victim and claiming that they have lost their phone.

After this the phone will lose connection to the network and the fraudster will receive all the SMS and voice calls intended for the victim.

How to protect yourself ? 

  • It is important to note that sending one time passwords via SMS or telephone calls can be secured against SIM swap fraud if the company who sends them, checks to see if the recipient’s phone has been SIM swapped immediately prior to sending the SMS or placing the call. If one of your accounts use one-time passwords sent via SMS or voice call contact the company and ask if they make appropriate checks before sending SMS or voice calls.
  • Set pin/password on your mobile account.  It is important to set  password or PIN you haven’t used earlier.
  •  Secure your all devices with anti-virus protection.
  • Download programs, apps and information only from trusted sources.
  • Never enter your account details before ensuring the site. Scammers can create duplicate sites to steal your information.
  • Keep your personal information private. This may be used to answer security questions  like birth date, fathers name, etc.

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