SIM swap fraud is a type of cyberattack that can compromise your online accounts and personal information. It happens when scammers trick your mobile carrier into transferring your phone number to a SIM card that they control. Once they have your number, they can bypass the two-factor authentication (2FA) or verification codes that are sent to your phone by SMS or call. This way, they can access your bank accounts, social media accounts, and email accounts.
SIM swap fraud is rising in India as more people rely on their smartphones for online transactions and communication. According to a report by Norton, India ranks second in the world regarding the number of SIM swap fraud victims, with 60% of the respondents saying they have experienced it. In some cases, the victims have lost lakhs of rupees to the fraudsters.
So, how can you protect yourself from SIM swap fraud? Here are some tips to follow:
Be careful about what you share online.
Fraudsters often use social engineering techniques to gather information about you, such as your name, date of birth, address, phone number, etc. They may also send you phishing emails or messages asking you to click a link or provide your personal details. Do not respond to such requests or share sensitive information on social media or other platforms.
Use strong passwords and change them regularly.
Make sure you use different and complex passwords for each of your online accounts. You can use a password manager to generate and store your passwords securely. Also, change your passwords frequently and do not reuse them across different accounts.
Enable additional security features on your accounts.
Besides 2FA, you can also enable other security features on your accounts, such as biometric authentication, app-based authentication, or security questions. These can provide an extra layer of protection in case your phone number is compromised.
Switch to eSIM if possible.
eSIM is a digital version of a SIM card that is embedded in your device. Unlike a physical SIM card, it cannot be stolen, damaged, or swapped by scammers. It also allows you to have multiple phone numbers and plans on a single device, making it easier to switch between different carriers or plans. Some mobile carriers in India, such as Jio, Airtel, and Vi, offer eSIM services for free. You can contact your carrier to check if your device and plan are compatible with eSIM and how to activate it.
Monitor your phone and bank statements regularly.
If you notice any unusual activity on your phone, such as loss of signal, inability to make calls or send texts, or receiving messages or calls from unknown numbers, it could be a sign of SIM swap fraud. Similarly, if you see any unauthorized transactions or charges on your bank statements, it could indicate that your accounts have been hacked. In such cases, you should immediately contact your mobile carrier and your bank and inform them about the issue. You should also report the fraud to the police and the cybercrime cell.
Use a trusted identity verification service.
One of the challenges in preventing SIM swap fraud is the poor level of identity verification by mobile operators. Scammers can easily impersonate you and convince the operators to swap your SIM card. To avoid this, you can use a trusted identity verification service that can authenticate your identity without relying on your phone number. For example, TruSense is partnering up with Jio for OTPless verification . Here, one can “silently verify” a user’s phone number during the registration and log-in stages.
SIM swap fraud is a serious threat that can cause you financial and emotional distress. By following these tips, you can reduce the risk of becoming a victim and safeguard your online accounts and personal information.
Mobile Number Verify (MNV) is a super secure way to make sure only you can access your accounts. It uses a smart system called Multi-Factor Authentication to add an extra layer of protection. MNV works really fast, checking it’s really you in just seconds without needing those one-time codes. What’s cool is that MNV also stops bad guys from doing tricky things like swapping your SIM card to take over your account. So, MNV not only keeps your accounts safe but also makes sure the bad guys can’t use sneaky tricks to get in.
Learn more about MNV here . And also, stay safe and stay alert!
