‘SIM swap’ is the latest technique to cheat mobile users

Mahim bizman loses Rs 1.86 crore in six late-night missed call

The victim received the calls on the intervening night of Dec 27-28, after which his SIM was deactivated. The hackers had obtained a new SIM in his name to transfer money to 14 accounts across the country.

In the intervening night of December 27-28, between 11 pm and 2 am, a businessman in Mahim received six missed calls on his mobile phone from two numbers, including one showing the United Kingdom dialling code +44. In the morning when he tried to dial the numbers, he realised his SIM card had stopped functioning. He was told by the mobile service provider that the SIM was de-activated based on his own request for a new SIM.

Having made no such request and suspecting that he may have become a victim of fraud, the businessman, who only identified himself as V Shah, rushed to his bank to find Rs 1.86 crore siphoned out of his company’s account, details of which were linked to his phone.

He was told that the money was transferred to 14 accounts across the country through 28 transactions. The bank was able to retrieve Rs 20 lakh, but the rest of the money was withdrawn by then. ..Read More..

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