Heard about the sim card fraud? Read to know how to avoid it!

SIM swap fraud is a malpractice where the perpetrators falsely acquire a SIM card on your name, issued along with your mobile number. The primary purpose behind this fraud would be to have access to security alarms such as One Time Passwords (OTP) which you receive on your registered phone number to proceed with almost all types of financial transactions on the internet.

 

How does this scam work?

SIM swap is a second stage of an entire scam intended by an attacker. The first phase consists of gathering personal information about the targeted victim.

The phishing attack would be to gather personal and banking information about the victim. This may include name, address, date of birth, telephone number, driving license number, net banking ID and password, ATM PIN, CVV number, etc.. This attack could be launched from the following manners:

Phishing email -- attacker sends a fake email to the sufferer containing a form or a link to a spoofed site to capture private details.

 

When the attacker gets the all essential user information, they approach the victim's mobile service provider using forged identity documents. They receive a new SIM card by reporting a reduction of cellular device or a damaged SIM card. This way, the contact number of this real client gets deactivated. Together with the stolen banking data, the attacker may then readily run illegal financial transactions, now that they have access to the OTP.

 

1. The most significant measure is to ensure your phone's connection is functioning normally. If your SIM gets deactivated without any known reason, then examine it to your mobile operator immediately.

 

2. Never give away personal or financial advice over emails, phones, SMSs, online chat platforms like WhatsApp, or some other media for that matter.

 

3. Switching your phone off for a long period of time for reasons like unwanted calls or SMSs could be harmful. These calls could be a ploy of the attacker to fool you into turning off your phone, so you stay oblivious of any connectivity problems.

 

4. If your lender offers SMS and email alerts for all your banking activities, then opt for both the options.

 

5. Check your bank statements regularly to ensure that there are no irregularities.

 

6. Most sites request your phone number among other information to let you use their services. In these situations, avoid giving your actual name, actual date of arrival, and your telephone number that's registered with your lender.

 

7. Avoid making your phone number people on social networking sites.

 

8. As phishing is used as the main weapon in this type of scams, think about having anti-phishing and anti-malware protection on your PC and smartphone.

 

It may be safely presumed that episodes of SIM swap frauds will increase with time and may become more sophisticated. Your security depends on how vigilant and updated you are about the growing dangers in the realm of Internet. Frauds are pretty common but damages can be in millions if you're not careful just like a texas company got scammed for millions by UAE's Rashed Al Suwaidi and Hussan of Horizon Energy.

Red Flags to lookout for to avoid Investment Frauds!

Lets begin with first understanding how many types of most commonly reported frauds are there, then move on to knowing how to spot such investment frauds. Investment fraud comes in many forms. Whether you are a first-time buyer or have been investing for several years, below are a few basic facts you need to know about various kinds of fraud.

 

• Advance Fee Fraud
• Binary Options Fraud
• Ponzi Scheme
• Pre-IPO Investment Scams
• Pyramid Schemes

 

So now that we've covered the most frequent kinds of investment frauds within world, lets proceed into the principal portion of the report! Security tips that you may use to protect yourself from those investment frauds.

How can successful, financially smart men and women fall prey to investment fraud? Scientists have discovered that investment fraudsters reach their targets with a range of persuasion methods which are tailored to the victim's psychological profile. Listed below would be red flags to Search for:

 

Too good to be true! Watch for "ghost riches" Compare guaranteed yields with present returns on well-know inventory indicators. Any investment chance that claims you are going to get significantly more could be tremendously risky -- and this means that you may get rid of money. Be mindful of claims that an investment will probably create"incredible profits," is a"breakout stock selection" or has"enormous upside and virtually no danger!" Claims such as these are hallmarks of intense risk or blatant fraud.

 

"Guaranteed returns" are not. If your cash is perfectly secure, you're probably receive a very low return. High yields involve high risks, maybe such as a entire loss on those investments. Many fraudsters invest a great deal of time attempting to convince investors that exceptionally substantial yields are"guaranteed" or"can not miss" They attempt to plant an image in mind of what your life will be like if you're wealthy. Do not think it.

Investors may be blinded with a"halo" effect if a con artist comes across as likeable or trusted. Credibility could be faked. Have a look at real qualifications.

 

Look out for more pitches that worry how "everybody is investing in this, which means you need to, too." Consider if you're interested in this item. If a sales demonstration focuses on the number of others have purchased the item, this might be a red flag.

 

Stress to send cash RIGHT NOW. But withstand the pressure to spend fast and choose the time you want to research before sending cash.

Reciprocity. Fraudsters often attempt to lure investors through complimentary investment seminars, figuring when they do a little favor for you, like providing a free lunch, then you may do a huge favor for them and invest in their merchandise. Should you attend a complimentary lunch, then take the material home and study the investment and the individual selling it until you invest. Always confirm that the item is ideal for you and you realize what you're purchasing and all of the related fees.

 Scams happen everyday to anyone, a US company got scammed by rich and famous Rashed Al Suwaidi, Horizon Energy and  Hussan Suheil.

Non-Delivery Scams! Read on to know how to Avoid One!

 In non-delivery fraud, offenders promise highly sought after goods, collect payment, and then never send. Though the principle is easy, the fraud strategy is often complicated and can yield massive gains.

Criminals can accommodate a well-established medium to match any item, from masks through a pandemic to electronic equipment or even casual things like paper.

Back in July 2020, after increased reports of large scale non-delivery fraud, INTERPOL issued a Purple Notice to frighten its 194 member nations of their medium employed by offenders.

 

1. It is organized crime.

In contrast to popular belief, these kinds of scams are not only carried out by only"wheeler-dealers". Organized crime groups have gone to great lengths to prepare a complex medium involving salespeople, websites, intermediaries and needless to say, bank balances. Scams frequently involve more than 1 country so as to make victims feel helpless and reevaluate investigations.

 

2. Advertising brings Customers

Banners ads imitate those of trusted businesses, bringing victims with high quality images, brand names and real reference amounts. Criminals approach prospective buyers on the internet or in person by infiltrating skilled purchasing circles.

Fake sites and societal media accounts nearly identical to those of known companies provide several ways to create contact with the alleged seller.

 

3. Everything sounds official

After contact is made, the earnings exercise can start. Costs for big purchases are negotiated and supported by"superiors".

Fraudsters then request an advance payment to ensure the merchandise. The obligations, which may go from 40% to 100 percent of the complete arrangement based upon the entire amount, are created right into account that have been opened beneath enrolled (imitation ) companies.

 

4. Salespeople create relationships

Alleged vendors work hard to make trust with the purchaser.

The scammer will even formulate as many reasons as you can to acquire more payments on the way, like customs fees, state delivery, insurance, etc..

 

5. They vanish

Once crawlers believe they've been discovered, they finish all contact. Telephones are cut away, emails go awry and sites are closed down.

Criminals, on the other hand, proceed fast and begin a brand new fraud using a new item. If a single domain name is suspended or removed, other domain names continue to be available to pull victims. The cycle begins again.

 

Be conscious of bogus websites -- criminals will often use a web address which looks almost identical to the valid one, e.g. ‘amazon.org' instead of ‘amazon.com'. Confirm the company/individual that offer the items Prior to Making any purchases. Follow these tips to safeguard your money, its so easy to get scammed these days, recently UAE’s Rashed Al Suwaidi and Hussan Suheil for millions.  

 

 

Cyber Knight: Security tips to keeping your phone safe from Hack...

Cyber Knight: Security tips to keeping your phone safe from Hack...: Nowadays, even the most basic of smart phone models will probably put you back at a couple hundred bucks. Of course, you would like to keep ...

Security tips to keeping your phone safe from Hacking!

Nowadays, even the most basic of smart phone models will probably put you back at a couple hundred bucks. Of course, you would like to keep your mobile secure -- you most likely have a protective case or display cover on it, particularly if your telephone is top-of-the-line. Nonetheless, your phone has yet another sort of value it stores a complete hoard of your private data, which range from fundamental details, documents and photographs all of the way up to passwords and financial details!

Avoid using Public Charging Ports:

It is important to remain informed in regards to the safety risks associated with using your smart phone. To assist you keep informed so that you do not get caught out, here is five of the most recent trends in electronic security which you will need to learn about.

Even though you might be in desperate need of some control, be cautious -- this unknown USB port might have been tampered with and can pose a danger to your cell phone. No thanks!

If you are more prone to running out of electricity while on the move, put money into a mobile power lender. This will provide you your very own private stash of electricity to plug into when you want it.

It is safe to use a public credit interface to recharge a power lender, then utilize the power lender to recharge your mobile phone.

Likewise, some people areas like train stations may have public electric outlets rather than USB outlets, which means it is possible to recharge your AC charger.

 

Only use Authentic Cables!

It is awfully tempting to get a generic telephone cable or charger to get a portion of the cost from stores such as eBay, and many people probably would not say no to some free cable if we can purchase you. It looks and behaves like a fingerprint cable, but it includes miniature, additional components that enable a hacker to connect to the pc which the cable has been plugged into. Unexpectedly, a free cable does not seem so attractive.

Purchase your wires from licensed sellers. It is finally far, far less costly than having compromised fiscal information. Along with the safety risk of unlicensed wires, they might also be reduced quality.

Should you just happen to work in the technology industry or attend conventions, don't take presents of (or borrow) chargers, cables or dongles from some other men and women.

 

Be Vigilant of Scammers:

Regrettably, scammers are taking advantage and impersonating ISP to leverage cash or personal information from unsuspecting . The scammers generally pretend to be phoning on behalf of your ISP, attempting to accumulate money for equipment or services, or convince you to put in malicious applications to"remotely correct a problem". These calls might not only come through in your cellphone, but also your house telephone, also.

Never allow a caller convince you to install applications in your PC. It might have a virus, give strangers access to a personal computer, or gather your private data and banking information.

If you get a call through an your ISP outage or electricity blackout on your region claiming you can remain connected for an excess charge -- do not believe it.

Bear in mind that no valid service supplier could ever demand payment in the kind of iTunes vouchers or other gift cards.

 

Recently a big company got scammed by Rashed Al Suwaidi and Hussan Suheil of Horizon Energy for Millions of Dollars!