Guiding consumers since 2009

Beware: The latest MTN SIM swap scam

By Jessica Anne Wood

Local mobile network provider MTN has warned customers of a new SIM swap scam that sees fraudsters getting customers to divulge their information to carry out illegal and fraudulent SIM swaps.

“MTN encourages all its customers to beware of a scam doing the rounds. In this scam, a supposed MTN call centre agent requests the customer’s security details under the pretext that they are blocking the processing of a SIM swap request that is being made on the subscriber’s number without their knowledge or authorisation,” explains MTN.

The information obtained from the customer is then used to perform a fraudulent SIM swap.

MTN stressed that it will not contact customers from its call centre to block the processing of a SIM swap request. The mobile network provider explained that there are several options available for customers wishing to conduct a SIM swap.

Post-paid customers are required to visit an MTN store when wanting a SIM swap. During this process they will be required to produce a form of ID. Pre-paid customers can process a SIM swap via a USSD code, the call centre or by visiting an MTN store.

“When opting to visit an MTN store, subscribers will be required to produce an ID document. Subscribers who choose to activate remotely will be required to complete security questions,” clarified MTN.

The network provider added: “In our continued quest to combat fraud and scams, again we urge our customers not to respond to unsolicited calls and requests for their security details from an unknown number.”

Over the past few years, there have been a number of scams affecting mobile phone users and the network providers. For more information on past scams, and to avoid falling victim to these scams, see the below articles:

 

MTN , scam

Recent Articles

Featured What’s the deal with underwriting?

When you apply for a long-term insurance policy, a financial adviser will ask some personal questions about your lifestyle, family history, health, and even ask you to take some medical tests. This process is called underwriting, but is it really necessary?

 

How are you taxed on your retrenchment package?

Unemployment is one of the biggest problems in South Africa. The emergence of the Covid-19 pandemic has exacerbated the situation with a lot of companies retrenching their employees.  When retrenched, you’ll receive a retrenchment package, but do you know how much tax you’re liable for?

Car repossessed – don’t be taken for a ride

When the country is facing an economic downturn, chances are your finances will feel the pinch. This can lead you to make bad financial decisions such as skipping your vehicle payments. But every decision has consequences and if you don’t pay your instalment, the bank will repossess your car. But what can you do when this happens?

 

Why you should consider gap cover

Your medical aid should protect you from incurring large medical bills when you’re sick. But what if your plan doesn’t cover the full cost of your medical expenses? We got in touch with insurance experts to find out whether gap cover is worth having.

Deals

Office furniture at discounted prices at BDK

Price: Available on request
When: Daily
Where: Johannesburg

Da Vincis Happy Hour Special

Price: Available on request
When: Daily
Where: Cape Town

Use your Absa card and get 30% cashback at Dis-chem

Price: Available on request
When: Daily
Where: Nationwide


Latest Guide

Guide to debt rehabilitation solutions