Information on the “SIM Swapping” fraud

In principle, the replacement/change of the SIM card (SIM Replace) is a perfectly legitimate service that mobile operators offer to their subscribers, so that the latter can retain their mobile phone number in the event that their mobile device is lost or stolen, or because they need to use a SIM card of different size. With the activation of the new SIM card, the old card is automatically deactivated and mobile telephony services (calls, SMS, internet access) are from then on carried out by the new card that operates with the same number.

In cases of SIM Swapping fraud, the perpetrators take advantage of the availability of the SIM Replace service and pretend either to be the holder of the SIM card or someone authorized by the legitimate subscriber, thus trying to deceive the mobile telephony operators and obtain a new card which will replace the one owned by the legitimate holder.

Once they activate the new card, the old one, which is still in the possession of the legitimate subscriber, is deactivated and thus all services (calls, SMS, internet access) are received on the device in the possession of the fraudulent offender, enabling them to carry out illegal activities unbeknownst to the legitimate subscribers (by receiving calls and messages intended for the latter, intercepting one-time passwords or security verification messages, etc.).

The unauthorized replacement/exchange of the SIM card is usually the second leg of the above illegal mode of action. In the first part, the perpetrators have managed to intercept the victim's e-Banking codes, usually through a phishing email or through malware installed on the victim's computer.

• If your mobile phone stops working for unusual reasons, contact your mobile telephony provider immediately. Sometimes you may have no mobile telephony signal due to broader problems that affect your mobile telephony service. However, if you lose the service at a location that usually has good coverage, it is safer to contact your network provider and confirm that your SIM card has not been deactivated.
• Do not disclose your mobile phone number on social media.
• Subscribe to the services of organizations that provide SMS and email notifications when your transactions are executed.
• Never respond to unknown messages or calls asking for your account details and your registered mobile phone number.
• Do not follow links to web pages and do not open attachments that you may receive from unknown email senders. Carefully check the sender’s details, as the perpetrators often pretend to be legitimate businesses and organizations.
• Do not disclose to anyone your e-banking codes (username and password) or card numbers, and do not enter them on unknown websites. Confirm that you have visited the official website of your Bank and remember that the Banks will never ask you for your passwords in any way whatsoever.
• Make sure that your computer and your devices (tablets, smartphones) always have the latest OS and app updates. Install and always keep up-to-date a trusted anti-malware program.
• Check frequently your accounts’ activity.
• If you are the victim of SIM Swapping fraud or have found transactions [in your accounts/cards] that do not have your approval, you should inform your Bank immediately.