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…