The Department of Telecommunications (DoT) has come up with a new SMS rule that could mitigate a prevailing SIM swap fraud in the market. Let’s learn what this SIM fraud is and how the new DoT rule will cripple that.
New SIM rule to counter SIM swap fraud: What is being mandated?
Once the telecom operator gets a request to change a SIM number, they will have to intimate the customer about receiving the said request.
Then the customer has to confirm the request via an IVRS call. This is to ensure it’s been initiated by the authorized holder or owner of the SIM.
Now, if you fail to prove the same or the request gets rejected by the customer, the telecom operator will have to stop the SIM upgrade process right away.
This new process is set in motion to prevent nefarious actors from gaining access to your mobile number and OTP. In case you’re wondering how? Please read on.
SIM swap fraud: How is it carried out?
As you know mobile numbers are used for double-factor authentication. You receive OTPs for several data-sensitive transactions. And if somebody gets access to your mobile number and therefore the OTPs that you receive on it, then that can be a grave issue.
Apparently, scammers have been duping telecom brands by requesting duplicate SIMs for mobile numbers whose owners would be somebody else altogether. When they get a duplicate SIM card, they use that unauthorized access to take out funds in the account or perform other fraudulent activities.
Let’s hope this new SIM rule puts an end to this.
For more technology news, product reviews, sci-tech features and updates, keep reading Digit.in or follow us on our Google News page.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
