Cyber Crime Wing – Federal Investigation Authority has issued the official notification of SIM Swap Fraud Alert 2021 for the public awareness to protect your bank account details and understand how to prevent yourself from victims.
What is SIM Swap Fraud
Did you know that your Bank Account could be emptied without an Alert?
Dear All, Please lets be very careful as there is a new HI TECH FRAUD in town called the SIM SWAP FRAUD, and hundreds of people have already become victims.
How Does SIM Swap Fraud Work
A new fraud called SIM SWAP has started. Your phone network will momentarily go blind zero (No Signal/Zero Bars) and after a while, a call will come through.
The Person on the other end of the call will tell you that he is calling from (your cell phone company) depending on your network and that there is a problem in your mobile network.
He will instruct you to please press 1 on your phone to get the network back.
PLEASE at this stage, don’t press anything, just cut or end the call.
If you press 1, the network will appear suddenly and almost immediately go blind again (Zero Bars) and by that action., You phone gets hacked.
Within a second they will empty you Bank Account, and you will not receive any alert. What you will experience, it will appear as through you line is without network, and meanwhile your SIM has been swapped.
The DANGER here is that you will not get any alert of any transactions, so please those of you using USSD Banking and Mobile banking BEWARE. Let’s be very careful !