Beware of ‘SIM Swap’ Scam: How Three Missed Calls Could Cost You Your Money

According to a report, a 35-year-old Delhi-based woman, who happens to be a lawyer, lost an undisclosed amount from her bank account when she fell victim to a ‘SIM swap scam’ after receiving three calls on her phone. by The Indian Express. In this peculiar scam, a fraudster gains access to your duplicate SIM card through unfair means and uses it to access your bank accounts and more.

This case comes at a time when scams of all shapes and sizes are on the rise across the country, and scammers continue to evolve and devise new ways to prey on unsuspecting people. Whether it is a wire job scam or an army officer scam, it is very important to stay alert these days.

This is how the SIM card exchange scam works:

To understand how the scam works, we must first understand what happened and what led to the woman losing her money. The woman reportedly received three missed calls from the number but never returned the calls.

Soon after, he received text messages telling him that his bank account had been debited. Worryingly, the woman never revealed the OTP or personal details to anyone, but she lost the money.

The lawyer reported the incident, which took place on October 18, to the authorities and informed them that he had lost lakhs of rupees. He also confirmed that he received a total of three calls and when he tried to call back from another number, he was told that it was a courier delivery.

“He had only shared his home address with the accused, thinking he was getting a package from a friend, and he did. Later, two messages from his banking app about two unauthorized withdrawals alerted him,” The Indian Express quoted an investigator as saying.—The lawyer had not shared bank details, OTP or password .When he approached us, we found that the money was charged several times without his consent,” he added.

Police also revealed that during the investigation, the woman was found to have an unusual browsing history and websites she did not visit. In addition, he received phishing links and other UPI registration texts.

Overall, SIM Swap scammers’ primary goal in this scam is to obtain personal information that they can use to collude with a member of a mobile network to obtain a duplicate SIM.

How to stay safe:

First, never post your personal information, including your address or personal documents like Aadhar card or PAN details, online – regardless of the platform. Always verify a person’s identity before sharing such information with them.

Also, notify your carrier immediately if your SIM card stops working – especially if it happens randomly. And of course, never disclose OTP details to people pretending to be officials or bank agents, as they may also be used in SIM swapping scams.