What is SIM Swap & Tips to Prevent SIM-Swap Fraud

Almost all of us these days rely on mobile banking transactions. Security of our transactions will always remain a key concern as the hackers also tend to evolve from time to time and comes up with new ways of following, blocking and sometimes even stealing the money and sensitive banking details from your mobile phone. Hence it becomes extremely important for every smart phone user to be aware of all the possible hacking techniques used by the hackers and how to keep your banking details and money safely.

In this article we will provide information about SIM-Swap Fraud and ways to prevent the same.

What is SIM Swap Fraud?

When a fraudster issues a duplicate SIM card which is registered under your name this is called as SIM Swap Fraud. So with a SIM card that shares the same mobile number, the fraudster can track, save and miss use your bank related information via mobile banking transactions. It is very important to be alett alert. Here is the round up of the tips that you can follow to stay safe.

Tips to prevent a SIM-Swap Fraud

• Check with your mobile operator if you have no network connectivity and you are not receiving any calls or SMS for unusually long period of time.
• Never ever neglect messages sent from your network provider that highlight a probable SIM-Swap. Always remember to respond quickly to such messages.
• Do not switch off your smart phone when you are in midst of receiving numerous unknown calls. It could be a trick to get you to turn off your mobile phone and prevent you from noticing a tampered network connection. Even if you are frustrated by such events, always remember not to switch off your smart phone.
• It is a good practice to register for instant alerts (both SMS and Emails) that inform you of any activity regarding your bank account.
• Check your bank statements and online banking transaction history regularly so that you can instantly identify any issues or irregularities. Most of the banks offer mobile applications to their customers which let them pay their bills, recharge their mobiles, book bus tickets etc., also let the user to have a look at the last 5 transactions, enquire the balance etc. It is good to use such mobile banking applications to prevent hacking and stay safe as you continue to enjoy the benefits and convenience of mobile banking in a secure way.