By Mihar Dias Copyright (C) October 2023

In the ever-evolving landscape of cyber scams, a new and highly sophisticated threat has emerged, known as SIM Swap Fraud.

It has already impacted numerous individuals, leaving them with emptied bank accounts and no immediate notification.

The Modus Operandi

This scam begins with an abrupt disruption in your mobile phone network, often leading to a complete loss of signal.

Shortly after, you’ll receive a call from an individual claiming to represent your mobile phone service provider. They will assert that there is a technical issue with your network and request you to press “1” on your phone to restore it.

The Critical Warning

At this juncture, it is imperative to exercise caution and refrain from pressing any buttons. Simply end the call immediately. If you do press “1,” your network will momentarily reappear, only to vanish once again, but with a devastating twist—your phone has been compromised.

The Consequences

In a matter of seconds, hackers will seize control of your phone and gain access to your personal information, including your online banking credentials. They will proceed to empty your bank account, all without you receiving any transaction alerts. To make matters worse, your SIM card will be surreptitiously swapped, leaving you completely unaware of the theft.

The Importance of Awareness

What makes this scam particularly dangerous is its ability to render you oblivious to the ongoing financial attack. No notifications, no alerts—just a stark realization that your bank account has been drained.

Spread the Word

We implore our readers to share this vital information with their contacts, loved ones, and friends. Fraud is on the rise, and awareness is our best defense. Together, we can protect ourselves and our community from falling victim to this sinister SIM Swap Fraud.

This cautionary message has been shared with us by a reputable Cybersecurity Group via my WhatsApp chat group, and it’s our responsibility to pass it on. The more people are informed, the fewer individuals will fall prey to this scam. Stay vigilant, stay safe!

This article first appeared on Newswav.