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HomeHitechCan SIM Swap Attack Empty Your BANK Account without an Alert?

Can SIM Swap Attack Empty Your BANK Account without an Alert?

This warning about a new type of high-tech theft known as SIM Swap Fraud, which can quickly and without warning empty bank accounts, has gone viral on social media and the messaging app WhatsApp.

A young couple reportedly lost $120,000 in a text message scam that targeted customers of OCBC Bank, according to a link included in the message that directs readers to a Straits Times article.

Here is what you need to know about this viral message and SIM swap attacks.

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1. What is the Story?

According to the message, there is a new scam going around called SIM SWAP. In some cases, you may experience a brief period of no service at all, until a call finally makes it through.

Someone on the other end of the line will say something along the lines of “I’m calling from (your cell phone carrier) to let you know there’s an issue with your mobile network.”

He will give you instructions to dial 1 to restore the network.

By pressing 1, the network will abruptly appear and then disappear again (Zero Bars), leaving your phone #HACKED.

And then, they will empty your bank account in a split second with no warning.

Are SIM swap attacks real? What is the Truth Behind This Story?

The answer is: Yes, SIM swap attacks are real; however they don’t work in the way that the rumor suggests they do.

Take a look below to find out what the facts really are!

SIM-swap-attacks
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