Alert - how you can be scammed by a method called SIM Splitting
Monday, April 6, 2020
The scam and how it works!
The first thing a fraudster will do is try to get as much information on you as they can. This can mean stealing your post, using your social media profiles, or tricking you into installing malware.
Once they have this information, the fraudster will call your mobile phone provider and tell them that your mobile is lost or stolen. They will use the information they've collected on you to answer basic security questions.
The mobile phone provider will then cancel the old sim and activate a new one. The fraudster might also ask for calls or texts to divert to a new phone. The first sign of this scam is when the victim's mobile phone stops working.
Fraudsters use the information they've collected to hack into your online banking and open a business account. There are less security checks as the new business account is already in your name.
The scammer then starts to transfer money to accounts they control. If the bank calls or texts to see if the payment is genuine, the fraudster simply pretends to be the victim and makes sure the payment goes through.
How to protect yourself against this type of fraud when on your computer!
Have suitable anti-virussoftware installed and make sure your firewall is switched on
Always consider what you are downloading – do not open files from unknown sources
Be wary of ‘pop-ups’ requesting unsolicited downloads
If you discover a virus on your computer, disconnect from the internet immediately and ask a specialist for advice
When creating a password, try not to use the same password for more than one account. This will prevent further accounts being taken over if one has been compromised.
Use complicated passwords: vary the case, use 8 or more characters. Never use personal information such as names or dates of birth.
Try not to post information on social media such as your birth date, your first pet, or school as these are normally included in security questions to reset your password. Fraudsters may use these answers to access your account via the “Forgot Password” link.
If you have any concerns or suspicions that your bank details have been compromised notify your bank immediately.
For further assistance and advice please call Diamondwe'll be happy to help.