SIM swap fraud threatens online banking

A credit card identity and data theft concept. Fraudsters can gather their victim’s particulars and information through phishing of emails. PHOTO | FILE | NATION MEDIA GROUP

What you need to know:

  • The threat of digital transaction fraud has seen the introduction of authentication measures such as one-time password (OTP) over SMS.
  • The government and other stakeholders should take measures to curb the threat of the ever-evolving cyber fraud.

The past few months have seen mobile phone subscribers complaining on social media platforms about subscriber identification module (SIM) swapping.

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