SIM Swap Fraud
✓ Last verified 14 Sep 2026
The short version
SIM swap fraud tricks or bribes a telecom provider into transferring your phone number to a SIM card the fraudster controls, giving them access to your OTPs and effectively hijacking your digital banking identity.
Using stolen personal information (often gathered through earlier phishing/vishing), a fraudster convinces a telecom provider to issue a duplicate SIM for your number, or exploits an insider at the telecom operator - once active, OTPs and calls meant for you go to the fraudster's device instead. A sudden, unexplained loss of network signal on your own phone (especially after any unusual account activity or requests) is a key warning sign worth acting on immediately - contacting your telecom provider right away to check for an unauthorized SIM swap in progress.
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