Scam Alert: the SIM card swap scam

In this scheme, scammers deceive mobile service providers into transferring a victim's phone number to a new SIM card under their control. Once the switch is made, scammers gain access to the victim's personal and financial info, leading to identity theft and sometimes large financial consequences.

How the Scam Works:

The SIM card swap scam often begins with scammers gathering personal information about their targets in various ways, including phishing emails, data breaches, or even social media. Armed with this information, scammers contact the victim's mobile service provider, posing as the account holder and claiming their phone has been lost or stolen. They manipulate the customer service representative into transferring the victim's phone number to a new SIM card under their control.

To safeguard yourself from falling victim to this scam, here are some tips to keep in mind:

1. Enable Two-Factor Authentication (2FA) on all your accounts, including your mobile service provider. This adds an extra layer of security by requiring a verification code as well as your password.
2. Use strong, unique passwords for all your online accounts. Avoid using easily guessable information such as your date of birth or pet's name.
3. Do not provide personal information over the phone unless you started the call. Be cautious of unexpected messages or calls requesting sensitive details.
4. Keep a close eye on your financial and mobile service provider accounts for any unauthorized activity. Report any suspicious transactions immediately.

How can Truecaller help? Well, there’s our famous Caller ID and Spam Blocking. But there’s also much more. Visit the website and take a look at all our features, and also make sure to check the blog regularly for all the new updates and tips.

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