How to protect yourself from sim swap fraud? | Jagran Business- Watch Video

In many nations with high smartphone adoption rates, SIM swap fraud is becoming a growing threat. When consumers are unfamiliar with the potential warning signs to be wary of, these subtle attacks on mobile phones frequently go undetected until it is too late. 

What is SIM Swap? 

This kind of attack goes by various names; it may be referred to as a SIM swap scam or SIM hijacking. However, the meaning of each name is the same. It occurs when a SIM fraudster convinces the victim's mobile service provider to move their phone number to a SIM card they own in order to take control of their phone number. Once they possess this, they are able to successfully perform any SMS-based two-factor authentication procedures for the accounts connected to that number, assuming total control over the phone and the affected accounts.

With this, the attacker may be able to access social media profiles, bank accounts, contact lists, emails, text messages, and other private and personal data in addition to other things.