How a man hacked into a company's bank account, and stole Rs 18.74 lakh

Navi Mumbai police have unearthed a cyber theft case where a man allegedly hacked into a company's bank account using SIM card fraud, also known as SIM swapping or SIM hijacking. SIM card fraud is a type of account takeover fraud that allows criminals to gain access to your phone number and potentially your online accounts. The fraudsters first gather personal information about you and then contact your mobile carrier to request a new SIM card. With the new SIM card, they can receive all your text messages and calls, including two-factor authentication codes, giving them access to your bank account and other online accounts.

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