It is always advised that if your Sim Card gets stolen or misplaced, you should immediately go to the office of the network provider in order to get the Sim blocked. This blockage is necessary in order to prevent scammers from gaining access to your Sim card and the vital information therein. If your Sim card is stolen or misplaced, you do not know what the person who stole/found it may do with it, hence, the need to always exercise appropriate caution.
A suspected Local fraudster was arrested recently and during interrogation, he narrated how he withdraws money from Sim cards linked to BVN. It is quite know that every bank has their USSD shortcodes for transactions and the fraudster disclosed to the security operatives how he makes the withdrawals.
He stated that when he finds a Sim card, he would use a code to check for the BVN number linked to it and after that, he would try different bank codes on the Sim to find out which bank the person is using. After he finds out the information, he would then request for the persons BVN details via the bank short code and these details (date of birth and account number) are what he would use to change the persons transaction PIN and transfer the money to an untraceable account.
During the interrogation, the security operatives doubted what he was saying and he asked one of them to bring their phone, he did it on the phone and it worked to their greatest surprise.
This video however sparked various reactions from Nigerians who aired their opinions about the act.
If you know your BVN is linked to your main Sim card or you normally use your Sim card for mobile transactions, please make sure you immediately block the Sim card if it gets misplaced or stolen.
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