Sim Card Fraud: How a man hacked into a company’s bank account, and stole Rs 18.74 lakh | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker

Navi Mumbai police have unearthed a cyber theft case where a man allegedly hacked into the bank account of a company and stole Rs 18.74 lakh. According to a report by news agency PTI, the man used SIM card fraud to hack into the account.

According the FIR report, the hackers accessed the bank accounts of the company through the corporate log-in of a telecommunications services company. Cyber Police launched an investigation after the company lodged a complaint in September, an official said.

“The investigation revealed that the bank account-holder in whose account Rs 18.74 lakh was transferred from the company’s account had shared account details, including the ATM pin, chequebook, and mobile phone number etc with a man in West Bengal. Police tracked down the location of the man, identified as Noor Islam Sanfui, in 23 Parganas district and nabbed him,” he said.

“In this particular crime, the man using the genuine mobile phone number had received an SMS saying his SIM card had been deactivated, but he failed to notice. The same SIM card was found active in the mobile phone of the accused person,” the official added.

What is SIM card fraud that the man used to hack into the bank account.
SIM card fraud, also known as SIM swapping or SIM hijacking, is a type of account takeover fraud that allows criminals to gain access to your phone number and potentially your online accounts. The fraudsters first gather personal information about you. Once the fraudsters have enough information, they will contact your mobile carrier and pretend to be you. They will report that your phone has been lost or stolen and request a new SIM card with the same phone number.

With the new SIM card in their possession, the fraudsters can now receive all your text messages and calls, including any two-factor authentication codes. This allows them to access your online accounts, such as your bank account, social media accounts, and email.

Once they have accessed your accounts, the fraudsters can steal your money, make unauthorized purchases, or transfer funds to their own accounts. They may also use your accounts to commit other crimes, such as identity theft or fraud.


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