A recent study from the Indian School of Business, Telangana Cyber Security Bureau, and the Centre of Excellence for Cyber Security reveals a troubling trend in cybercrime: the use of outdated Aadhaar cards featuring children's pictures to fraudulently acquire SIM cards. This form of SIM card fraud constitutes 35-40% of all telecom fraud globally, costing the industry approximately Rs 3,600 billion annually. The study highlights significant verification gaps, with 89% of alternate numbers provided during SIM registration not linked to Aadhaar, indicating weaknesses in current identity verification processes. It recommends improving electronic identification methods, enhancing customer education, and adopting online validation techniques to mitigate these risks. Additionally, the study analyzed SIM registration policies from 160 countries to benchmark best practices and improve local protocols. Cybercriminals are exploiting these vulnerabilities, underscoring the urgent need for robust identity verification solutions.