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The Times of India
The Times of India
Narayan Namboodiri | TNN

Mumbai: Businessman loses Rs 22 lakh to cyber fraudsters in SIM card swap scam

MUMBAI: A businessman from Andheri, AA Shah (57), lost Rs 22 lakh from his account in a SIM card swap fraud after cyber fraudsters got a new SIM card issued against one's registered mobile number via the mobile service provider.

Cyber police at the Bandra Kurla Complex (BKC) said with the help of this new SIM, they can get One Time Password (OTP) and other alerts required to carry out financial transactions through your bank account which is what happened in the case of the complainant.

Shah was at his office when he noticed no signal in his SIM and was unable to make any calls. "The fraudsters, after deactivating Shah's SIM made six fraudulent transfers to six bank accounts in four different banks. We have sought details from the banks as to which accounts the money was credited. Meanwhile, the team has sought details from the mobile service provider of the person who got the new SIM card registered under Shah's name after deactivating the one which was in service," said the cyber police officer.

When Shah noticed that there was no network on his mobile phone, he called his wife and asked her to call customer care to check why he was unable to find any network reception despite having his SIM card in his mobile device.

In the complaint, Shah said, "I learned from my wife that the customer care informed her that they received an application saying that I have lost my SIM and applied for a new one which was issued. A complaint was raised after my wife shared a mobile IMEI number and a four-digit PIN. I learned about the fraudulent fund transfers when the SIM was activated later in the evening."

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