Five hours, three banking apps, one missed signal-loss alert.
The victim is a Mumbai-based equity research analyst, MSISDN on Reliance Jio, banking primarily with ICICI plus an HDFC salary account and a Paytm wallet. The timeline below is reconstructed from the FIR (Bandra Cyber Police Station, 2023), the bank's customer dispute file, and Jio's CSR ticket. Names and amounts have been generalised.
19:42 IST on a Friday: an attacker calls Jio customer care from a CLI-spoofed number that displays the victim's own number, gives the victim's full name, last four digits of the registered Aadhaar (sourced from a leaked KYC scan), and the last month's billed amount. The attacker reports the SIM as damaged and requests a replacement at a specific Andheri reseller. The CSR approves the swap pending biometric verification at pickup.
20:14 IST: an accomplice walks into the Andheri reseller, presents a printed Aadhaar with the victim's name and a forged photo, and clears the biometric step with a silicone fingerprint dummy lifted from a prior physical interaction at the victim's gym. The new SIM is issued and activated. The old SIM goes inactive at 21:04.
21:07 IST: the victim, at dinner, notices a "No Service" indicator on his phone. He assumes a Jio network outage, restarts the phone, and continues. The single most reliable signal of an in-progress SIM swap is this exact symptom; the victim missed it.
21:09 to 22:30 IST: the attacker, holding the new SIM, initiates banking password resets on ICICI internet banking, HDFC NetBanking and Paytm. SMS OTPs arrive on the new SIM. The TRAI 24-hour cool-off should have blocked the OTP-bearing transactions on the swapped number, but at the time of the incident ICICI and HDFC's SMS gateway integration with Jio's swap-flag API was inconsistently enforced for retail-channel originations; the OTPs went through. Paytm's wallet held lower funds and was drained first; ICICI savings was drained within the next 40 minutes through a chain of UPI to mule wallet to e-commerce voucher.
22:35 IST: the victim, still without signal, walks to a Jio store the next morning and discovers the SIM swap. CEIR is filed at 09:20 IST Saturday. Bank dispute filings begin at 10:00 IST Saturday. Forensic recovery of part of the funds proceeded over the following six months via NPCI's transaction-trace process, and three of the mule accounts were frozen. The remaining funds were not recovered.
The teaching points are practical. First, the victim should have treated the unexplained "No Service" as a possible swap and called Jio from a friend's phone within 15 minutes. Second, the bank should have hard-enforced TRAI's cool-off rather than treating it as an advisory check. Third, biometric eKYC at the reseller failed against a moderately sophisticated forged-fingerprint attack, which is a known gap and the reason Aadhaar's UIDAI added live-finger detection to its newer biometric devices from 2022 onward. Cross-link to for the imaging and CDR analysis steps the cyber cell took on the recovered attacker devices.