An individual reportedly lost Rs 11 lakh after falling victim to an e-SIM upgrade scam, underscoring emerging threats to digital identity and SIM-based security protocols. The fraudulent scheme involves perpetrators posing as telecom representatives who convince victims to initiate an e-SIM activation request. By subsequently obtaining a One-Time Password (OTP), the fraudsters deactivate the victim's existing physical SIM card and activate a duplicate e-SIM on their own device, thereby gaining control over the victim's mobile number.
An e-SIM, or embedded Subscriber Identity Module, is a digital version of a traditional SIM card integrated directly into a device, eliminating the need for a physical card. According to cyber experts, this type of scam demonstrates the ease with which digital identities can be compromised through simple phone calls, leading to a breakdown in the entire security chain. Industry professionals are advocating for an accelerated shift towards a more robust Zero Trust Access architecture to counter such vulnerabilities. Individuals experiencing financial fraud are advised to contact helpline 1930.
Source: https://indianexpress.com/article/technology/why-otps-and-sim-based-security-are-no-longer-safe-10324457/