SIM-Swap fraud: ICICI Bank issues advisory for customers to prevent from it

sim swap fraud icici bank issues advisory for customers to prevent from it

Sumary of SIM-Swap fraud: ICICI Bank issues advisory for customers to prevent from it:

  • ‘never share your contact details publicly on any social media platform as it is sensitive personal information’ ICICI Bank In a Twitter post the bank advised customers to “never publicly share your contact details on any social media platform as it is sensitive personal information.”.
  • According to the ICICI Bank website, a SMI-Swap fraud occurs when a fraudster gets a new SIM card issued for your registered mobile number through the mobile service provider under SIM swap/exchange..
  • The fraudster gets unique registration number or OTP (one-time password) and alerts needed for doing financial transactions through your bank account with the help of the new SIM card..
  • To get the new SIM card, fraudsters can use any excuse such as, they lost the mobile phone or can use forged documents…

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