What is SIM-Swap Scam? Check how victims can lose lakhs of rupees even without sharing OTP, personal information

A 35-year-old advocate from North Delhi recently became victim of a sophisticated cybercrime operation known as a SIM-swap scam. According to a report by Indian Express, the advocate, lost a significant sum from her bank account after receiving three missed calls from an unidentified number. The surprising bit is that she did not share any critical information like her bank account number, OTP or any other personal information. 
 
The advocate did not even answer the calls but the cybercriminals were still able to exploit her information to withdraw funds from her account. The exact amount of money lost has not been disclosed by the authorities but the report suggests that she lost lakhs of rupees.
 
How did the cybercrime happen? 
 
The advocate received three missed calls from an unknown number. She did not pick any of these calls. However, she returned the call, using another number and the person on the other end posed as a courier service representative. She shared her home address with the caller to get the courier delivered. The report claims that she even received the courier.  What ensued confirmed that she was a victim of a cybercrime. She received two messages notifying her of a substantial debit from her account. The cyberpolice are currently investigating the case, but no arrests have been made so far. 
 
Considering that the she did not share any sensitive information apart from just the address, it is highly possible that she was a victim of the SIM Swap scam. 
 
What is SIM-Swap Scam?
 
SIM-swap scams are on the rise. Fraudsters manipulate network providers to associate the victim’s number with a SIM card under their control. In light of this incident, citizens should remain vigilant and adhere to preventive measures to safeguard against such fraudulent activities.
 
After obtaining the personal information, fraudsters visit the mobile operator’s retail outlet, posing as the victim with a forged ID proof and report a fake theft of the victim’s SIM card and/or mobile phone. By doing this, they attain a duplicate SIM.
 
The scamsters then manipulate the network provider to associate the victim’s number with a SIM card in their possession. This allows them to receive all calls and texts intended for the victim, including those that can be used to access bank accounts and other sensitive data. 
 
How to stay safe from such scams?
 
Experts recommend several precautionary measures to protect oneself from such scams:

• Avoid posting personal details online, such as your address or identification documents like Aadhaar card or PAN.
• Always verify the identity of an individual before sharing sensitive data with them.
• If your SIM card suddenly stops functioning, immediately notify your telecom provider.
• Never disclose OTPs to people claiming to be officials or banking representatives, as this information could be exploited in SIM Swap scams.

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