Fraud Alert: New method fraudsters use to empty your mobile money wallet and bank account without an alert

A brand-new high-tech fraud known as SIM SWAP FRAUD has already claimed money of hundreds of people.

When a hacker convinces your cell phone carrier to transfer your cell phone number to their device rather than yours, it is referred to as a SIM card hacking, SIM Swap attack, SIM Port hacking, or SIM hijacking.

This SIM swapping technique is used by scammers to secretly obtain one-time security codes from banks, cryptocurrency exchanges, and other financial institutions.

How does it work?

1. A brief period of no signal or zero bars will occur on your phone network, followed by a call.

2. The caller will inform you that they are phoning from your mobile network provider and that there is a problem with your mobile.

ALSO READ: How Smartphone Owners Can Control Mobile Data Without Disabling It

3. He will ask you to tap 1 to restore the network on your phone.

Warning

Avoid being a victim of it. Put an abrupt end to the call, then restart your phone. If you don’t but nevertheless push 1, the network will suddenly appear and then go completely dark (zero bars), hacking your SIM and giving the scammer access to all of your personal information.

He will immediately empty your bank account and mobile phone, and you won’t get any notifications.

What you will go through

Your line will appear to be disconnected from the internet while your SIM has been switched.

The risk here is that you won’t receive any transactional alerts. Those who use USSD for banking should be aware and extremely cautious.

To raise awareness, kindly forward this information to your loved ones.

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