OTP Never Arrived, Savings Disappeared: Bengaluru Man Falls Victim to SIM Swap Fraud

Bengaluru, June 18, 2026: A 62-year-old Bengaluru resident has allegedly lost more than ₹7.44 lakh in a sophisticated SIM swap fraud, exposing ongoing vulnerabilities in mobile-linked banking security systems and raising concerns about the growing threat of cybercrime.

According to a police complaint, the victim’s mobile number suddenly became inactive for nearly a week, preventing him from receiving calls, messages, or banking alerts. During this period, cybercriminals are believed to have gained unauthorized access to his bank account and carried out multiple transactions without his knowledge.

Mobile Number Inactive for Several Days

The incident reportedly occurred between May 31 and June 7, 2026. The victim noticed that his mobile connection had stopped working and initially suspected a technical issue. He approached his telecom service provider seeking assistance, but the disruption continued for several days.

Investigators suspect that fraudsters exploited this interruption to execute a SIM swap attack—a cybercrime technique that allows criminals to take control of a victim’s phone number. Once access is gained, they can intercept banking alerts, verification messages, and one-time passwords (OTPs) used for account authentication.

Fraud Discovered After Service Restoration

The alleged scam came to light when the victim regained access to his mobile number and attempted to log into his banking application. After encountering login problems, he visited an ATM to review his account activity.

The account statement reportedly revealed several unauthorized transactions. Alarmed by the findings, the victim immediately contacted his bank and reported the suspicious activity.

Bank officials later confirmed that ₹7,44,831 had been withdrawn or transferred from the account through transactions that the account holder claims he did not authorize.

Police Launch Cyber Fraud Investigation

Following the discovery, the victim lodged a complaint through the National Cyber Crime Helpline and submitted a formal report to law enforcement authorities. Police have since registered a case and initiated a detailed investigation.

Officials are examining bank records, telecom logs, and digital evidence to identify how the attackers gained access to the victim’s mobile number and banking credentials. Authorities have also sought information from the telecom operator regarding the status and handling of the SIM during the period of disruption.

How SIM Swap Frauds Work

Cybersecurity specialists explain that SIM swap scams typically involve fraudsters convincing telecom providers to transfer a victim’s mobile number to a new SIM card under their control. Once successful, criminals can receive OTPs and security notifications intended for the legitimate user, enabling them to bypass two-factor authentication safeguards.

This method allows cybercriminals to access banking applications and conduct fund transfers before victims become aware of the breach.

Experts Urge Greater Vigilance

The case has renewed concerns about reliance on OTP-based verification systems for financial transactions. Security experts recommend that users immediately report unexpected loss of mobile network service, monitor bank accounts regularly, and enable additional security features wherever possible.

Authorities have also advised citizens to remain cautious of suspicious calls, phishing messages, and requests for personal or banking information. Any prolonged mobile service disruption should be reported promptly to both telecom providers and financial institutions.

Investigators are exploring whether the incident may be connected to a broader cybercrime operation targeting multiple victims through coordinated SIM swap attacks. The probe remains ongoing.