SIM swapping

SIM swaps can cause disaster

Because your SIM card is connected to your personal identity, fraudsters can use it for a number of fraudulent activities. Typically, they will approach your service provider pretending to be you asking to transfer your existing cellphone number to a new SIM card.They often produce a stolen or fraudulent identity document and are able to answer all your security questions as if they were you. They may obtain your personal information by contacting you and posing as a consultant asking you to confirm your personal information, or they may send you a phishing email. Whichever way they get your details, once they have it and do a SIM swap, they will receive all your SMSs, phone calls, banking notifications and SMS approvals.

Tips on avoiding becoming a victim of SIM swapping

• Verify connectivity errors. If your cellphone loses connectivity for an extended period, don't assume it is your network. Call your service provider and make sure there hasn't been a SIM swap on your account.
• Don't switch off in frustration. Before fraudsters do a SIM swap, they'll often call you repeatedly, hoping you will switch off your cellphone in frustration. This way they do the SIM swap while your cellphone
  is off.
• Check your statements. Check your bank statements regularly and query any unauthorised transactions immediately. 

Remember: Nedbank Lesotho will never call, SMS or email you to confirm your self-service banking profile credentials, your passwords or your internet banking details.