Cyber criminals are using used mobile numbers and trying to gain access to personal information of victims including their bank account details, social media account, internet banking and many other personal and sensitive details. A simple trick is used by hackers to wreak havoc in your life.
What is actually happening
Due to the some policies of network providers in India, when a sim card user can not recharge for extending the validity of sim card due to some reasons, there numbers are being unvalidated and they can’t use that number any more and that number is no more available for that user. But, that number is allotted to a new user and here the flaw exists.
We all know that, these days we are mostly dependent on technologies and internet because it fulfills most of our requirements in less effort. Most of the people are using internet for online recharges, banking, bill payments, online app based transactions, selling or purchasing various products, and not only this but also they are even providing their personal and sensitive details on the internet over social medias like whatsapp, facebook, twitter etc. Mobile banking systems are becoming ever more prevalent throughout the world today. Most analysts expect it to become the primary method of payment within the next ten years.
Now, when the new user is assigned with the number that was used by the other user before, he can get into the personal details of that user. All he needs is just that number. Almost all mobile applications and also some social media accounts require only OTP(one time password) for authentication. Almost everyone nowadays, have their mobile numbers linked with various online banking applications like paytm, phonepe , google pay etc. and also with their social media accounts which require only OTP based authentication. Now what an attacker can do is, he can access your bank accounts, social media accounts and much more by just entering that OTP which he is now getting in his mobile. The malicious user can now get into your bank accounts and do transactions to steal your money and also they can do whatever they want with your social media accounts. This is really a very serious problem.
What Can Save Us From These Frauds
These types of applications should not only use OTP based authentication, but should also use other ways of identifying the genuine and valid user like email verification, biometrics, personal question answer based authentications etc. Implementing these methods, the user can be saved from being frauded by the criminal minds.