A man in Dublin has been arrested in connection with an ongoing investigation into a sophisticated sim-swapping fraud that has caused customers of an Irish commercial bank to lose around €200,000.
The man, aged 27, was arrested in Tallaght today by Gardai attached to the Garda National Economic Crime Bureau (GNECB) who are investigating "sim-swapping, account takeover and money laundering". He is currently being held at Clondalkin Garda Station under Section 50 of the Criminal Justice Act, 2007.
Sim swap fraud is a fraudulent way of gaining access to someone's mobile number. It occurs when someone gains your personal information and convinces your mobile provider to transfer your phone number to a different SIM card.
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A garda spokesman said this morning's arrest came after an "extensive Garda investigation into fraudulent sim swap attacks targeting customers of an Irish commercial bank which incurred losses of approximately €200,000 and for which a man has been charged and convicted, Gardai at GNECB identified a supplier of SIM cards used to facilitate smishing/sim swap fraud."
The spokesman said investigations are ongoing.
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