Scam alert: BSP cautions against unauthorized SIM swapping

MANILA — The Bangko Sentral ng Pilipinas on Tuesday warned against a scam that dupes victims into swapping their SIM card in the guise of a fake promo.

The fraudster will get access to the victim's financial accounts using the SIM card as some banks and financial services send one-time passwords to the client's registered number before an online or mobile transaction is fulfilled, the BSP said.

Globe Telecom earlier warned subscribers against individuals posing as its representatives and offering to replace their SIM cards.

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Fraudsters also resort to phishing or fake emails to trick users into giving away their data, the BSP said.

The BSP reminded the public to never disclose personal details and SIM information to people they don't know and to always monitor their online transactions.

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