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Thursday, December 2, 2021

8 things to do to keep money safe when your smartphone gets stolen

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Your smartphone has a lot of personal information including your online banking details and mobile wallets. There’s a new trend that is being observed globally that thieves are stealing mobile phones to access banking details and other personal data instead of just reselling your device to make quick money. So, instead of just worrying about the smartphone you lost, you should pay attention to secure your money from online frauds as well. Here are 8 things you must do immediately to keep money safe when your smartphone gets stolen.


​Call your telecom operator and get your SIM card blocked immediately

Block the SIM card immediately, so that thieves can’t get access to OTPs of financial services or other personal messages. Of course, you can continue to use the same mobile number with a new SIM card. But the entire process of getting a new SIM card for your old mobile number may take some time. This time period is crucial and thieves may take advantage of this. So, ensure you do the following to stay safe.



​Block access to internet and mobile banking services

The moment you happen to lose your mobile phone, call your bank and block access to online banking services. If thieves are able to access your banking accounts then they can easily transfer money as they will continue to get OTPs on your mobile. This is important because it may take a while for your telecom operator to block your SIM.



​Visit your bank in person and change the mobile number associated with your bank account

It is advisable to not use the same phone number for banking services after your phone gets stolen. Visit your bank in person to change the mobile number, reset all passwords and only then start using internet banking again.



​Go to the nearest Aadhaar centre to change your mobile number

If thieves get access to Aadhaar authentication, then they may start to impersonate you to conduct bigger scams. It is highly advisable that you visit the nearest Aadhaar centre to change your mobile number immediately after your mobile phone gets stolen.



​Deactivate UPI payment from your linked bank accounts on that phone number

After blocking online banking services, do not forget to deactivate UPI and other mobile wallets linked to that particular mobile number.



​Block access to Paytm, Google Pay or other mobile wallets

Get in touch with the mobile wallet service provided either through the app or by calling a verified helpdesk to block access to Paytm, Google Pay and other mobile wallets that may be linked to your phone number.



​Block access to social media accounts, email and other online services

It is highly recommended that you deactivate all your email ID and social media accounts that are linked to the stolen mobile number immediately when your phone gets stolen. By doing so, thieves won’t be able to carry out scams targeting your near and dear ones.



​Visit the nearest police station and report it

After you have secured your money, visit the nearest police station and report the incident. Also, do not forget to take a copy of the FIR as it will be required as evidence to banks or wallet companies in case someone steals money from your bank account.

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