SIM Swap Bank Fraud by SMS

How it looks by SMS, the red flags and what to do.

A text message is the cheapest way for a scammer to reach thousands of phones at once, and the sender name can look like a bank, a courier or a government office. SIM Swap Bank Fraud is one of the ways this shows up: Fraudsters get a duplicate SIM issued for your number, receive your bank OTPs and drain your account. A sudden loss of signal is the first sign.

What sim swap bank fraud looks like by SMS

• A shortened or oddly spelled link that does not match the real website.
• A request to call a number, install an app or share an OTP.
• Several near-identical messages arriving together from different senders.

The fraudster first collects your personal details through phishing links, fake KYC calls, leaked data or a chat in which you shared your name, date of birth and address. They may also gather your bank login details through a lookalike page. None of this is enough alone, because the OTP still goes to your SIM, so the next step is to take your number.

Red flags to check on the text message

• Your phone loses network for a long time without a reason.
• A caller asks you to press a key or share a code for a SIM upgrade.
• You get bank alerts about password or number changes you did not make.
• A message about a new SIM request arrives that you did not ask for.
• It threatens blocking, arrest, disconnection or a fine unless you act at once.
• It promises a refund, prize or cashback you never asked for.

What to do

1. Never share a code or press a key for a SIM upgrade on a call.
2. If your signal drops, use another phone to call your operator on the number on your bill.
3. Call your bank from another phone and ask to block net banking and UPI.
4. Do not reply, do not tap the link and do not call the number in the message.
5. Open the official app or type the official website yourself to see if there is any real notice.
6. Paste the text into a scam checker (Safeavio Sentinel can check it) before you do anything else.

You can report suspicious SMS and calls on the Sanchar Saathi portal (Chakshu facility) of the Department of Telecommunications.

If money or a code is already gone

1. Call 1930 quickly from another phone and give the details and time.
2. Call your bank on the number printed on your card and block accounts, cards and UPI.
3. Ask your operator to block the duplicate SIM and issue a new one after identity checks.
4. Report at https://cybercrime.gov.in and change all banking passwords.

National Cyber Crime Helpline: 1930; report at cybercrime.gov.in.

Safeavio includes a SIM-change alert for the anti-theft feature, which can tell the owner through the portal that the SIM in a protected phone has changed. That helps for a lost or stolen phone, but it cannot see a swap done by the operator on your number. Pay attention to a sudden loss of signal and call your bank from another phone.

Full guide: SIM Swap Bank Fraud: how it works, signs and what to do. Other channels: phone call, fake app, email.

Questions