The Delta State Police Public Relations Officer (PPRO), a Superintendent of Police, Edafe Brights, gives financial saving tips on steps to take after a phone has been stolen by criminals.
If your phone is lost or stolen, don’t think you are fine because it has a password, a fingerprint scan, or facial recognition.
Within hours, your bank account can be wiped clean.
Ever wondered why, when you lose your phone even though it’s password-protected, they still manage to siphon your money from your bank account? Well, security experts and recent victims are sounding the alarm on a critical vulnerability that many overlook. It’s your SIM card that they need, not your phone.
The physical phone, with all its advanced biometric security, often becomes little more than a plastic case for the real prize: the tiny SIM card nestled inside.
How the Scam Works
According to cybersecurity analysts, the process is frighteningly simple for criminals:
The thief steals your phone. They know they can’t get past your lock screen.
They immediately power down the phone and remove your SIM card using a simple ejector tool.
The thief inserts your SIM card into a different, unlocked phone. Your phone number is now under their complete control.
With control of your number, they have the keys to your financial kingdom.
- USSD Banking: In Nigeria, many bank transactions are done via USSD codes (e.g.,
*737#,*919#). These services are linked to your phone number, not the device itself. The thief can simply dial the code and, if they can guess your simple 4-digit USSD PIN (like 1234 or your year of birth), they can transfer funds, buy airtime, and pay bills. - Password Resets: For banking apps, the thief can select the “Forgot Password” or “Forgot PIN” option. The one-time password (OTP) or reset link is sent via SMS directly to your phone number, which they now control. They intercept the OTP, reset your password, and gain full access to your banking app.
- Digital Identity: Your phone number is often the primary way to verify your identity across numerous platforms, including email and social media, which can lead to further compromise.
- USSD Banking: In Nigeria, many bank transactions are done via USSD codes (e.g.,
The Solution: Protect Your SIM
Financial authorities and tech experts are urging the public to take one crucial, simple step to prevent this: Set up a SIM card PIN.
A SIM PIN is a 4 to 8-digit code that locks the SIM card itself. When a phone is restarted or when the SIM is moved to a new device, this PIN must be entered before the card can connect to the mobile network. Without this PIN, your SIM card is just a useless piece of plastic to a thief.
If your phone is stolen: Contact your mobile network provider to block your SIM card and contact all your banks to freeze your accounts and report the theft.
The security of your phone’s lock screen is important, but the security of your SIM card is paramount. Taking two minutes to set up a SIM PIN today could save you from financial ruin tomorrow.
Please watch to the end, share this report and help others stay protected.
