Soon after PM Narendra Modi’s announcement on October 1, 2022, on the launch of 5G services, telecom giants like Reliance Jio and Bharti Airtel started rolling out the 5G network across India. While telecom service providers and smartphone makers work jointly to promote 5G in the country, scammers are leaving no stone unturned to defraud people online.

Scammers are turning to cyber scams by posing as customer care executives representing renowned network providers and sharing compromised links that require them to fill up personal details or sensitive information like bank passwords or OTPs under the guise of upgrading their 4G SIMs to 5G. The swift rise in the number of cyber scams reported from across the country has resulted in authorities in different cities issuing 5G SIM scam alerts and cautioning citizens to stay alert.

Common Tactics Used by Scammers

• Cyber fraudsters send phishing links through text messages to people in the name of telecom companies.
• In some cases, fraudsters also call unsuspecting users and create pressure on them to share their personal and banking details.
• The fraudsters offer to guide customers to follow some steps to upgrade from 4G to 5G, which include adding personal information like bank account number, home address, credit card number, passwords, and OTPs.
• Once they get the OTP, they access the customer’s bank account and steal large sums of money.

These are some of the techniques used by scanners to extract the most valuable data. So, it is important to stay vigilant.

Tips to Safeguard Yourself from the 4G to 5G SIM Upgrade Scam

There are several precautionary measures you need to take to protect yourself from the 5G SIM upgrade scam and ensure that your hard-earned money stays safe.

Here are some ways to stay safe from cyber scams:

• Though most telecom companies are upgrading existing SIMs to 5G, you are not required to switch your SIM to secure 5G connectivity. The 5G network can work even on a 4G SIM.
• You must note that telecom companies will never request OTPs to activate the 5G service. Do not share OTP with any telecaller as that may provide fraudsters access to your device or bank accounts.
• Always enable two-factor authentication in your smartphone, which adds another layer of protection apart from the basic password. It can be a one-time code, secret question, or biometric data.
• Avoid picking easy-to-guess passwords, like your birth date, name, or passport number. Use a random string of characters and memorize them. Scammers use malicious tools that can process every word used repeatedly to crack passwords.
• Do not access websites or click on links sent to you via emails promising an upgrade. Importantly, do not share any credentials with a company by email. Always verify by visiting the official page or site of the company you want to access.
• Remember, any text message, email, or call made to you under the pretext of offering special discounts and offers or advanced booking is spam.

At present, Airtel and Reliance Jio are the only two telecom companies that have committed to launching 5G services in India. However, these operators intend to offer the facility only in select regions, to begin with. While Jio 5G is available in Mumbai, Delhi, Kolkata, and Varanasi, Airtel True 5G is available in eight cities, including Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Nagpur, Siliguri, and Varanasi.

As a company with a reputation of being one of the best NBFCs in India, DMI Finance strives to bring the latest information and safety measures for its customers regarding the finance industry, cyber scams, cyber security, and a lot more.

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