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Pankaj Kumar of Sarsuna, Kolkata, thought he was completely safe. He had two credit cards and no suspicious transactions. But in just 20 minutes, Rs 8.8 lakh was withdrawn from his account, that too without his permission, through online shopping. By the time he realised he was getting continuous OTPs and blocked his cards, the fraudsters had done their job.

The police suspect that either this is a SIM-swap scam or someone stole his data, which led to such quick and large-scale purchases on a major e-commerce site. The name of a person named Kartik Sable has come up in the investigation. This incident shows the increasing cases of financial crimes related to mobile phones. This is not an isolated case. Kolkata Police has said that such scams are increasing rapidly, which also include fake customer support calls and collusion of inside employees. If you want to avoid this type of scam, then we are telling you some tips about it.

What is a SIM-swap scam?

When a fraudster swaps your SIM, he transfers your mobile number to his SIM. For this, he misleads the mobile company by posing as you. Once he has your number, he can even change your OTP, banking alerts, and password.

How to avoid credit card and SIM-swap scams?

1. Never share OTP, CVV, or PIN. Banks never ask for OTP or password through calls, SMS, or emails. If someone asks for it, disconnect the conversation immediately and call the bank yourself on the number written on the back of your card.

2. Do not ignore the signs of SIM-swap. If the network suddenly goes off on your phone or the SIM shows deactivated, contact your operator immediately. Get features like a port lock or SIM PIN activation.

3. Do not take small and strange transactions lightly. Fraudsters first test by making small transactions, then give a big shock. Immediately inform the bank about any suspicious alert or transaction.

4. Use virtual or limited cards. Keep a virtual or secondary card with a low limit for online payments. This will prevent major loss if the data is leaked.

5. Keep your phone and apps safe. Do not save card information in an open state in the phone or notes. Keep antivirus, use a password manager, and enable two-factor authentication.

6. Avoid fake bank or government calls. Nowadays, people call pretending to be hospital staff, BSF officers, or customer care. Do not trust the caller ID. Always check the information from the official website or helpline.

7. Report fraud immediately. Time is money! Immediately file a complaint on cybercrime.gov.in and inform the bank. The sooner you take action, the greater the chances of compensating the loss.

How do these scams succeed?
The point is not just to siphon off money, but to steal your data first. Through SIM-swap, the fraudsters grab the OTP before you or the bank comes to know about it. If you get help from social engineering or insiders then your entire security collapses in one go.

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