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SIM Swap bank fraud alert.

Published on 2012-07-03

We were sent an email earlier today from Francois Groenewald who claims to be a investigator. He said the following in his email.

"If you receive an SMS from a number similar to the one that you get bank notifications from. The SMS will indicate a problem on your account and a 'consultant' will contact you. When the 'consultant' contacts you he/she will start confirming all your details and your account number and then they will ask you what kind of a phone you are using. The fraudsters will then contact your cell phone provider and perform a SIM Swap. The fraudster will then be able to receive OTP's (One Time Pins) and/or RVN's (Random Verification Numbers) from your bank and have access to your bank accounts. By the time you realize that your cell number is not working your money will be out of your account."

He doesn't have anything to gain by saying this and you have nothing to loose by reading what he has to say. This is the reason for posting this item.