Imagine being without mobile service for a few hours, only to find that your bank account has been emptied. This alarming scenario is not merely a technical issue but a rising form of cybercrime called SIM swap fraud. This tactic is increasingly adopted by criminals to hijack mobile numbers and access funds without the victim’s awareness.
Law enforcement has raised concerns about this trend, characterizing it as a “silent takeover.” Unlike traditional scams that involve tricking victims into sharing one-time passwords (OTPs), criminals can simply intercept these messages themselves. By creating a clone of a victim’s SIM card using stolen personal information, fraudsters gain unfettered access to calls, texts, and banking verifications associated with that number.
A. Venkatesh, Deputy Superintendent of Police for Cyber Crime in Chandigarh, noted that there have been several reports of individuals falling prey to this type of fraud.
SIM swap fraud is a variant of identity theft wherein perpetrators obtain a duplicate SIM card by leveraging a victim’s personal details. With this new SIM activated, they can take over the victim’s mobile number, allowing them to receive OTPs, banking notifications, and other sensitive information tied to financial accounts.
According to Venkatesh, the scheme follows a systematic approach. Initially, fraudsters collect personal data through phishing emails, fraudulent calls, social engineering, or data breaches. This can include essential information such as phone numbers, birth dates, or identification documents.
Subsequently, they contact the victim’s mobile carrier, impersonating the victim, and request a SIM replacement, often claiming that the original SIM is lost or damaged. Once the mobile provider processes this request, the victim’s SIM is deactivated, and the fraudster’s duplicate SIM is activated in its place.
At this point, the fraudster starts receiving all communications, including calls, texts, and OTPs related to the victim’s number. This access enables them to reset banking passwords, bypass security measures, and perform unauthorized transactions within moments.
A recent incident in the city illustrates the gravity of this threat. Unknown assailants reportedly drained Rs 81.89 lakh from a local business by taking control of its registered mobile number associated with banking services.
Police officials emphasize that there are signs that can serve as early warnings to avert financial losses if acted upon promptly. A sudden and prolonged loss of mobile service can often be the first indication of a SIM swap. Victims may also find themselves unable to make calls or send messages, and may receive alerts about SIM replacements or changes. Any unauthorized transactions or unexpected notifications from banks should be taken seriously.
Ignoring these signs, even for a short period, can provide criminals with the opportunity to deplete accounts.
Venkatesh advises that if someone suspects they are a victim of SIM swap fraud, swift action is essential. They should contact the national cybercrime helpline at 1930 and report the incident through the official cybercrime portal. Timely communication with the bank can help halt transactions and minimize financial damage.
As cybercriminals continuously refine their techniques, SIM swap fraud has become a significant threat to both individuals and businesses, the DSP remarked.
