How we reset pin of victim’s bank account through stolen SIM cards – Fraudster

February 27, 2021
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A suspected internet fraudsters has revealed how his gang reset the account pin of unsuspecting victims, giving them unfettered access to withdraw money from the account through their lost or stolen SIM cards linked to their account.

The suspect in a viral video explained that the process is called local wire. “Any alert SIM card that I come across and is connected to any account, I work on them. It will show the bank that the owner of the SIM is using.

“For instance, if my boys get any alert SIM card, and I press *425*100#, if it is Access Bank, I will dial *901*00#, it will show the account balance of the person. So once I have the account balance, if I want to reset the pin of the person, it will ask for the account number and date of birth.

“Most often, the account number is always saved on the contact, although some people don’t save their account number on their contact list. Once I get the account details, I will now use the person’s BVN to get the person’s details by dialing *565*0#, and then I will now register the bank and start to transfer money from the account.

According to him, once they are able to guess or get the victim’s date of birth, they would create a pin to reset the security pin of the account holder. “If there is no money in the account and it is a salary account, we can use the account to borrow money against the person’s salary depending on the amount of the salary.

“I can only use a SIM that is connected to any bank account. It must be the same that the person used to get his or her bank’s alert. “No matter how hard the code is, I will break it. We opened an account we called no trace account. We will use BVN of an unknown person which we got through a sim card thereby eliminating any trace to us,” he added.

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