Your bank account could be compromised by a ‘SIM swap’ modus. What is it?

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Did you know that someone can take over your financial accounts through a SIM swap?

A telecommunications company reminded its subscribers to stay vigilant and protect their data to prevent themselves from being victimized by the “SIM swap modus.”

This modus is the last step that scammers carry out before fully taking over the victim’s bank account details, trading information, e-wallet and/or credit cards, according to Globe Telecom, Inc. 

Prior to the act of scamming, the company said that the fraudster will gather the victim’s bank account details, his e-mail addresses, online credentials, personal facts and identification.

The scammer will also obtain the victim’s mobile number registered with the bank for sending a one-time password (OTP).

Once all of the information have been obtained, the act of taking over the victim’s mobile SIM registered for OTP takes place.

The firm said that victims might receive calls from someone pretending to be a telco or a bank representative who will ask for their personal information and bank details in exchange for some offers or perks.

How to protect yourself 

Subscribers are cautioned keep their personal information private and to refrain from posting online as these may be used by fraudsters in answering security questions relating to their bank accounts.

These include birth dates, anniversary dates, tax identification number, school or company ID, and passport details.

To protect themselves, subscribers are advised to use “strong and unique passwords” in their digital accounts, have it changed regularly and activate other authentication methods such as security keys, applications or device log-in prompts.

How to know if you’ve been victimized

The telco said that one may be victimized by a SIM swap scheme if he experiences a sudden loss of mobile signal. Their mobile number will also get deactivated for no reason at all.

The victim may also receive notifications of log-in attempts or other activities via e-mail despite not doing anything.

Another indication is when their family members or friends cannot suddenly call or reach them through their mobile number.

What to do if your sim has been compromised?

Once victimized by the SIM swap modus, the following steps should be done:

  • Immediately change their password or PIN of their bank and digital accounts
  • Monitor their bank and digital accounts for unauthorized transactions
  • Call 211 (Globe) or visit the nearest Globe store to temporarily deactivate the line
  • Inform the concerned bank about the hacking incident and then report to the authorities

For postpaid subscribers, they can go to the GlobeOne app, and then navigate to “Account Requests” or call 211 to request for a temporary line disconnection.

Both postpaid and prepaid users may also go to the nearest Globe Store to recover their mobile number and have a SIM card replacement.



Your bank account could be compromised by a ‘SIM swap’ modus. What is it?
Source: Filipino Trend Viral

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