Bengaluru Man Loses ₹7.44 Lakh in Suspected SIM Swap Fraud; Police

 Launch Investigation

Bengaluru | June 2026

A 62-year-old Bengaluru resident has allegedly lost ₹7,44,831 in a suspected SIM Swap Fraud case, highlighting growing concerns over vulnerabilities in mobile-linked banking authentication systems. The fraud reportedly occurred while the victim's mobile number remained inactive for nearly a week, preventing him from receiving banking alerts and One-Time Passwords (OTPs).

According to the complaint filed with authorities, the victim's mobile number stopped functioning between May 31 and June 7, 2026. During this period, he was unable to make or receive calls and messages. Believing it to be a routine network issue, he approached his telecom service provider for assistance. However, the connectivity problem persisted for several days.

Investigators suspect cybercriminals exploited the disruption to gain unauthorized access to the victim's banking credentials. Since the mobile number was inactive, OTPs and transaction alerts failed to reach the account holder, enabling fraudsters to carry out multiple transactions without detection.

The fraud came to light after the victim's mobile services were restored. Upon attempting to access his mobile banking application, he encountered login issues and later visited an ATM to verify his account activity. A mini statement revealed several suspicious transactions, prompting him to immediately contact his bank.

Bank officials subsequently confirmed that ₹7,44,831 had been withdrawn through a series of unauthorized transactions. The victim reported the incident to the National Cyber Crime Helpline (1930) and lodged a formal complaint with local police.

Based on preliminary findings, investigators believe the case is linked to SIM Swap Fraud, a cybercrime technique in which fraudsters gain control of a victim's mobile number by fraudulently transferring or duplicating the SIM card. Once control is obtained, attackers can intercept OTPs and bypass conventional two-factor authentication systems.

Cybersecurity experts warn that such attacks often begin with manipulation of telecom verification procedures, followed by unauthorized access to banking applications and rapid transfer of funds before the victim becomes aware of the breach.

Authorities are currently examining banking transaction records, telecom service logs, and digital evidence to identify those responsible. The telecom operator has also been asked to provide detailed information regarding the SIM's deactivation and restoration timeline.

Officials have not ruled out the possibility of a larger organized cybercrime network. Investigators are examining whether similar SIM Swap operations have targeted multiple victims across different locations.

The incident has once again underscored the limitations of banking systems that rely heavily on OTP-based authentication. Cybersecurity professionals are advocating stronger security measures, including multi-factor authentication, SIM-lock protection, and enhanced telecom verification protocols.

Meanwhile, authorities have advised citizens to remain vigilant and immediately report prolonged mobile network disruptions to both their telecom provider and bank. Users are also urged to avoid sharing OTPs, responding to suspicious calls, or clicking unknown links.

The investigation remains ongoing.

Incident Timeline & Impact Chart

Key Facts at a Glance

Cybersecurity Takeaway

A sudden loss of mobile network connectivity, especially when accompanied by the inability to receive OTPs, should be treated as a potential security threat rather than merely a technical issue. Immediate reporting to both the telecom operator and the bank can significantly reduce the risk of financial loss.

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