What is the ‘SIM swap scam’ and how can you protect yourself?

With the COVID-19 pandemic, now is not the time to lose your hard-earned money to scammers.

According to the Bangko Sentral ng Pilipinas (BSP), a so-called “SIM swap scam” is tricking individuals into giving away sensitive information to fraudsters.

This practice allows scammers to gain access to a victim’s bank account and transfer the money to unknown wallets.

Legal expert Gaby Concepcion explained what bank account holders could do to protect their money during her “Kapuso sa Batas” segment on “Unang Hirit” Tuesday.

So how exactly does it work?

Scammers would pose as a telecommunications company representative and offer an upgrade to a client to get their SIM card or credentials.

Once they get hold of the SIM or access to the messages, scammers can now easily log on to the victim’s bank account via online or mobile banking if this is linked to their phone numbers.

According to Concepcion, scammers face charges for breaking several laws, including the Cybercrime Prevention Act of 2012.

As for the money, victims can always try getting their money back, but there’s no guarantee that it will be easy.

“Parang contact tracing lang din ’yan. It’s a tedious process and, of course, magdadasal lang talaga [tayo] kung maibabalik ang pera na ’yan,” the lawyer explained.

“[Kailangan] magkakaroon ng investigation and, of course, that could be difficult, pero kailangan din talagang malaman kung sino ba talaga ang nagkamali? So sino ang nagkulang at nagwagi, ang scammer?”

Can the bank or telecom involved also be held liable?

“Strictly speaking, magkakaroon lamang ng liability ang bangko kung sila ang nagpabaya. That’s always the general rule,” Concepcion said.

“So, halimbawa, malinaw na magkaka-liability ang bangko kung, halimbawa, alam mo na na suspicious na gagamitin ang account mo at sinabi mo na doon sa bangko paki-freeze ang account ko kasi may suspicious activity, at nanakawan parin, ’yun, obviously, mayrong pagkakamali ang bangko,” she explained.

“Ganoon na rin sa mga telephone company,” the lawyer continued.

“Kung mayroon na tayong suspicion na dapat i-block na ang SIM na ’yan, tapos nagbigay ka na ng warning sa telephone company pero nakalusot parin, dito malinaw na magkakaroon parin ng liabilidad ang mga telephone company at ang mga bangko,” she added.

In any case, Concepcion stressed that the victim should always be responsible when giving away sensitive information.

“Kailangan nating tandaan na dito sa mga SIM-swapping scam, at the end of the day, kaya lang (naman) nagkakaroon ng access ang mga scammers ay dahil na rin doon sa biktima,” she said.

“Alam natin na hindi lang SIM-swapping ang nangyayari, pati na rin phishing. So, kahit papaano, naloloko ang biktima na magbigay ng account information.”

What can we do to avoid falling victim to SIM-swap scammers?

First and foremost, the public is reminded not to share sensitive information so easily, especially online, and beware of possible scams.

“Maging mapagmatyag. Huwag masyadong magbibigay ng information sa social media kasi paminsan, nagsu-stalk sila (scammers) para makakuha ng information tungkol sa inyo: your telephone number, your address, your date of birth,” said Concepcion.

She also urged everyone to be extra cautious online, even if the request for information seemed to come from trusted sources.

“Huwag din maniwala masyado sa mga email messages that look like the real thing, like it’s from the bank or its from the telephone company. Sabi nga nila, paghinihingan kayo ng mga sensitive information, malamang ito ay fake na message na ginagamit lamang para lang makakuha ng information para sa inyo,” she said.

“Sa panahon ngayon, ng COVID, hindi lamang, ’di ba ang batian natin, ‘stay safe, stay healthy?’ Dito din, hindi lang, ‘wear a mask.’ Dapat din be careful and be smart all the time, para hindi tayo maloko sa ganitong panahon.” – Margaret Claire Layug/RC, GMA News