The SIM Swap Fraud, Four Found With 20,000 SIM Cards

By Soko Directory Team / August 9, 2018

Four suspects have been arrested in Eldoret in connection with a string of crime involving SIM swap leading to Kenyans losing millions of shillings.

The four suspects were found with 20,000 SIM Card, 300 mobile phones and two laptops in what police say is an organized cartel that has been robbing unsuspecting Kenyans of their hard-earned cash.

Towards the of the month of July, angry Kenyans took to social media platforms and poured out their frustrations and blamed mobile phone service providers for doing little to protect them against the fraudsters.

Most of those who have been affected reported to have lost money through M-PESA with Safaricom confirming that some of their staff might be involved in helping the criminals have their way.

The giant telecommunication has since put in place measures including the use of biometrics for voice identification as a way of cutting off the mobile money fraudsters.

How Fraudsters Work

According to the Communication Authority of Kenya, the fraudsters succeed to conning Kenyans of their cash by dubbing them into revealing of sensitive information such as the national ID numbers, bank account PIN, passwords, and date of birth among others.

The fraudsters then use the information to swap the SIM Card one is using so that they can have 100 percent control of it. This way, they can access all the account details of the swapped SIM including receiving calls and reading texts. The can also withdraw any amount that might be on the account.

“Fraudsters want you to act first and think later. If someone calls you and you see the request convey a sense of urgency or use of some high-pressure tactics, you need to be skeptical; never let their urgency influence you,” said the Communication Authority of Kenya.

Kenyans who have lost such items as Identity Cards and ATM Cards are urged to report to the police and have a replacement as soon as possible.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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