BiharWatch, Journal of Justice and Law is an initiative of the East India Research Council (EIRC) and MediaVigil. It focuses on justice and legislations besides nature, philosophy, science, Central Himalayas, ecocide, public finance, art and literature. It attempts to keep an eye on unalloyed truth, unsound business, courts, legislatures, governments, courts, jails, cyber space, the migrants and the displaced from the earliest times and neighbors.
Monday, July 13, 2015
Your Account information might get leaked! Stay aware about SIM Swap fraud
Your Account information
might get leaked!
Stay aware about SIM Swap fraud
Under SIM Swap fraud, fraudsters manage to get a new SIM card issued against your registered mobile number through the mobile service provider. With the help of this new SIM card, they get One Time Password (OTP) and alerts, required for making financial transactions through your bank account.
How do fraudsters operate?
Fraudsters gather customer's personal information through Phishing, Vishing, Smishing or any other means.
They then approach the mobile operator and get the SIM blocked. After this, they visit the mobile operator's retail outlet with the fake ID proof, posing as the customer.
The mobile operator deactivates the genuine SIM card and issues a new one to the fraudster.
Fraudster then generates One Time Password (OTP) required to facilitate transactions, using the stolen banking information. This OTP is received on the new SIM held by the fraudster.
How to protect yourself from fraud:
If your mobile no. has stopped working for a longer than usual period, enquire with your mobile operator to make sure you haven't fallen victim to the Scam.
Register for SMS and Email Alerts to stay informed about the activities in your bank account.
Regularly check your bank statements and transaction history for any irregularities.