SIM Card Swap Scam has been around for over 4 years now. The service providers have done a pretty good job of raising awareness. However, due to the current limitations, crooks are still very active in this hustle and according to few estimates, scammers make over 60 millions dollars a year by exploiting the loopholes.
Clearly, the issue at hand is big and it is not the kind of threat anyone should tread lightly. Cyber criminals can easily extract the victim’s personal information, sensitive details and much more within minutes of breaching their number. Though there is no go-to solution to this problem, being aware definitely helps.
There are ways of recovering money from this kind of hustle, but it might turn out to be a lengthy process. So, we strongly advise you to go over the following content and learn the ways of avoiding this scam.
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SIM Card Swap Scam Explained
Scammers approach service providers with convincing stories and a bit of personal details about the mark. Though a few attempts might fail, eventually they will be able to breach and things will change drastically once they have got the SIM card.
As soon as they obtain the newly activated SIM, it does not take them long to transfer all kinds of confidential information and sell it on the dark web or other shady online portals. From damaging the credit score of the victim to ruining their finance, the kind of destruction they can cause is humongous to say the least.
Unfortunately, in most cases the victims wouldn’t know the reality of the situation until it is too late. In this era, technology is something which has become a part and parcel of life. However, due to the pitfalls present, it is our duty to be updated and careful at all times.
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How to avoid SIM Card Swap Scam
If you are going through this post in any format, it means that you have an active internet connection, laptop or a mobile phone. Modern devices are miraculous and they have a lot of benefits. Just by clicking a few buttons, it is possible to accomplish a lot of things and the way we communicate has changed drastically over the years.
Sadly, just like the Yin and Yang principle, whenever there is something good, the bad will also be present and a pretty good example of that is the SIM Card Swap Scam. Go through the next few paragraphs to know what you need to do in order to keep yourself safe.
Don’t reveal Personal Information
Social media platforms have billions of users and nowadays almost everyone appears to be active in the digital world. Sharing our activities, pictures and updating other events is certainly fun, but be cautious and do not overshare anywhere.
Scammers and cyber criminals stalk victims using social media and anything you might have shared will be a boon for them. Also, do not reveal any details if you are approached via cold calls or emails.
More importantly, do not interact with unknown profiles and never ever click on any links or attachments without scanning it. Use the latest anti-virus software and routinely backup your device so that you can handle anything that might sneak up on you.
Use 2FA method
The 2FA method is one of the best things that can enhance the security of your account. Most platforms and apps support this and almost everyone in the tech field knows the benefits it brings to the table. Note that 2 FA method is not foolproof.
However, it does go a long way in securing your account and it slows down the attackers significantly. The best part is, it is easy to get started with it and the whole process merely takes seconds. Given all the positives it offers, it is a no brainer to incorporate it as quickly as possible.
Check your Financial records frequently
Regardless of how careful we are, scammers might still manage to breach our accounts. To prevent the crooks from burning a hole in your pocket, you need to keep tabs on your bank accounts and e-wallets.
Keep track of your expenses and if you notice any transactions that can be categorized as odd or suspicious, report it immediately. In most cases, banks will be able to help you mitigate the damage or prevent the drain of funds.
Recover money from scams
As scammers get more creative with their approach, more online scams will appear. The best way to deal with the threat is by employing common sense and being prepared also definitely helps. If disaster does strike even after gearing up, then do not panic.
Thanks to the latest tools in the field of accounting and finance, it is easy to trace out the culprit and make them pay up. All you have to do to get an actionable plan and assistance for free is fill out the form below and get in touch with us.
As soon as we have done the groundwork, our staff will show you what needs to be done in order to recover your money back.
SIM Card Swap Scam End Note
SIM Card Swap Scam and other variations of it are sneaky and deadly. Though there is no one shot cure to it, we can eradicate it by being cautious and conservative. As long as you follow the tips mentioned before, you will be on the safer side for the most part.
Have you ever encountered the SIM Card Swap Scam? Share your experience by commenting below.