How Hackers hack bank accounts by using sim swapping or sim cloning
SIM cloning is a very much time taking process especially for GSM SIM cards, which are widely use now a day, and in the SIM cloning process, the complete physical access requires. There is no way till now to clone the GSM SIM card over a phone call and in SIM Cloning the imsi number requires too
Yes, you read about sim swapping exactly right! your smartphone can be a cause to lose of your hard earned money from your bank accounts. You should aware yourself about general awareness so that you can save your hard earned money. You must have heard about sim cloning or sim swap now a day.
In a recent case a man lost his Rs 93 lakh from his bank account. Now a day this sim swap cases increasing day by day. Hackers performs it by using phishing or vishing techniques, in most of cases hackers used these kind of techniques in financials frauds. Doesn’t matter which company sim card you are using like Idea, Vodafone, Airtel, Reliance Jio, BSNL etc. or which phone do you have.
What is SIM Swapping?
SIM Cloning or SIM swapping is a technique in which a person can create exact same another sim card of original one. The original sim stops to work and another working fine and bad guy start to use the sim and use it in getting OTP codes for making fraudulent activities without knowledge of the mobile subscriber.
"SIM Swapping means registering a new SIM card with your mobile number. A person with your authentic details will contact the telecom company, provide your all the authentic details and get a new sim card with your mobile number," said Manish Kumawat, Director at Cryptus Cyber Security.
Kumawat added that the original SIM will soon become invalid. "Scammers use the new SIM to get the OTPs from the bank or any social networking sites, whatever they want to get access," he said.
They connect the same call to the telecom customer care and make it authentic call from user to telecom company. When user press 1 to confirm, the telecom company customer care confirm that user has lost the sim and wants to get a new sim, and they released the new sim to the scammer with the same number.
“Scammers actually look for the phone numbers which are registered in the bank accounts and they use the number in the payment transfer APIs so that they can easily transfer the amount in another bank accounts. Scammer gets the OTP code at fake sim card. Once the complete process done, scammers destroy the SIM card so that no trace left,” said Kumawat.
How to identify whether the SIM has been cloned or not?
There are some points to stay safe from SIM cloning.
· someone calls you regarding telephone bills.
· Your phone went missing for a few hour or don’t getting mobile network.
· Phone busy even when that is not using on a phone call
· Too many wrong number calls for collecting confidential information
"Scammers generally scare the user that their number will be deactivated or telco may issue disconnection of service order. In such a case, visit your nearest telecom service store with your concern. Do not share any detail over the phone," said Kumawat.
Below are some dos and don’ts that you must follow:
1. If you will get a call from telecom company if they are asking the SIM card number and some other sensitive details.
2. Remember no-one from telecom company never calls to their customers for collecting such kind of information.
3. Scammers usually asks you the 20 digits sim card number, if someone ask you this kind of information it means they are definitely a scammer.
4. Scammers requests you to confirm any digits in your phone key pad. They connect the same call to the customer care and make it authentic call.
5. No bank employee calls to the customers to collect such kind of information.
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