(Image source from: Gadgetsnow.com)

Mumbai Businessman Loses Rs 1.86 Crores On Missed Calls:- A businessman based in Mumbai lost Rs 1.86 crores through missed calls which is a huge surprise. This has been named as one of the biggest banking frauds calls SIM Swap. The cyber crime cops of Mumbai, New Delhi, Bengaluru and Kolkata received several cases of 'Sim Swap' recently. Not only the digitally-illiterate people fall prey to the scam, several highly educated businessmen too ended up losing huge money through this fraud. Sim Swap is responsible for mobile phone users to lose millions of money in just minutes.

Sim Swap technology is something that is used to shift to a new sim by standing on the same mobile number. Every sim card has a unique 20-digit number on the back side of the sim card. In this Sim Swap scam, the fraudster will convince you to share the 20-digit unique number or it may be hacked. Once they get the access, Sim Swap process gets  initiated. Once they hack the sim card, all the OTPs reach the mobile number and before this, they manage to get the information about the person's bank account.

The businessman received six missed calls between 11 PM and 2 AM from two numbers. Soon Rs 1.86 crores has been stolen and is sent to 14 accounts across the country. This amount will be withdrawn from the bank accounts. The fraudsters hack sim cards and initiate bank transfers after which the amount gets transferred.