SIM Swapping: What is it and how to protect your customers?
Posted: Sat Dec 07, 2024 9:31 am
As the use of mobile devices for financial transactions increases, attempts to commit fraud in digital transactions have also become common.
One of them is through Sim swapping. This type of fraud is cayman islands whatsapp number data 5 million out by replacing a SIM card in a mobile phone without the user's consent. This gives access to confidential information such as bank accounts, credit card numbers, passwords or financial information.
Sim swapping begins with obtaining personal information from the victim, such as their name, date of birth, and address. The criminal then uses this information to make a call to the phone company and request a replacement SIM card in the victim's phone. Once they have access to the SIM card, they can intercept text messages and phone calls, including those containing financial or login information.
How can a company protect itself from this type of crime?
There are several ways for a company to protect its customers from this type of crime and thus avoid costly resolution procedures. One of them is through the Link Sim Swap API solution.
With access to the Link Sim Swap API, banks, fintechs, online stores, e-commerce or any other company that carries out digital operations can know in real time if a SIM card has been duplicated.
The date on which the SIM was duplicated is enough to suspect that the procedure was carried out to commit fraud. If this duplication was carried out in the last few days or 24 hours before, it is possible that it is a person trying to commit a crime and take over a customer's account.
How does LINK Sim Swap API work?
A good example to explain how the API can be used is through a bank's onboarding process to change an account password. In this case, the procedure would be carried out as follows:
One of them is through Sim swapping. This type of fraud is cayman islands whatsapp number data 5 million out by replacing a SIM card in a mobile phone without the user's consent. This gives access to confidential information such as bank accounts, credit card numbers, passwords or financial information.
Sim swapping begins with obtaining personal information from the victim, such as their name, date of birth, and address. The criminal then uses this information to make a call to the phone company and request a replacement SIM card in the victim's phone. Once they have access to the SIM card, they can intercept text messages and phone calls, including those containing financial or login information.
How can a company protect itself from this type of crime?
There are several ways for a company to protect its customers from this type of crime and thus avoid costly resolution procedures. One of them is through the Link Sim Swap API solution.
With access to the Link Sim Swap API, banks, fintechs, online stores, e-commerce or any other company that carries out digital operations can know in real time if a SIM card has been duplicated.
The date on which the SIM was duplicated is enough to suspect that the procedure was carried out to commit fraud. If this duplication was carried out in the last few days or 24 hours before, it is possible that it is a person trying to commit a crime and take over a customer's account.
How does LINK Sim Swap API work?
A good example to explain how the API can be used is through a bank's onboarding process to change an account password. In this case, the procedure would be carried out as follows: