Banco Hipotecario hit with SIM swapping ruling

The Puerto Madryn Court of Appeals upheld a ruling against Banco Hipotecario after criminals duplicated a customer’s phone chip, accessed her online banking, took out a $547,944 loan in her name and made transfers. The total award was set at $20 million, according to TN.

What happened in the customer’s case?

Criminals gained access to the victim’s phone line by duplicating the chip, a scheme known as SIM swapping. With that access, they logged into her home banking account, requested a loan for $547,944 and moved funds. The Puerto Madryn Court of Appeals confirmed the bank’s liability in the case.

What other signs appear in judicial and prosecutorial coverage?

The case fits a type of fraud that shows up repeatedly in cases investigated in Argentina. In Tierra del Fuego, the Public Prosecutor’s Office reported that between 2024 and September 2026, 3,845 fraud and swindling cases were filed in the province, while in the Southern Judicial District, 979 investigative requests linked to digital scams were reviewed.

Of that total, about 70% involved identity theft and misuse of cards or personal data, according to El Sureño’s coverage. That same provincial line of inquiry also broadens the time frame of the problem and shows the judicial focus is not limited to a single isolated case.

What did Córdoba’s Cybercrime Prosecutor’s Office say?

Córdoba’s Cybercrime Prosecutor’s Office said identity theft, on its own, is not currently a standalone crime, but becomes criminally relevant when it is used to commit fraud or another offense. It also said 99% of the cases analyzed involved some action by the victim.

According to that office, the pattern is dominated by social engineering and WhatsApp account takeovers. La Voz del Interior summarized the investigative focus this way: the attacks are not only aimed at systems, but at people.

In parallel, Perfil Córdoba reported growth in digital fraud and the use of artificial intelligence to speed up scams, in a context where SIM swapping, identity theft and misuse of personal data keep appearing as recurring patterns across several provinces.