Text Message Phishing: Protect Yourself
Text messaging has become an integral part of our daily lives, offering convenience and instant communication at our fingertips. However, with the rise in popularity of texting, fraudsters are attempting to dupe victims via text, a tactic known as SMS phishing or "smishing."
What is Smishing?
Smishing is when some one sends fraudulent texts aimed at tricking recipients into providing personal information like passwords, account numbers, or Social Security numbers. These tactics often mimic legitimate messages from businesses, making them difficult to identify.
The Rise of Smishing
Text messaging has become an integral part of our daily lives, offering convenience and instant communication at our fingertips. With the popularity of texting rising in recent years, fraudsters are attempting to dupe victims via text, too. It’s called SMS phishing, or “smishing.”
Join us as we explore the rise of text message phishing and empower you with the knowledge to protect your personal information and financial well-being. Uncover Smishing tactics and provide yourself with essential insights to safeguard against these fraudulent activities.
How Smishing Works
Smishers typically send a text that’s intended to trick you into giving away personal information, like your passwords, account numbers, or Social Security number. They use that information to gain access to your email or bank accounts. Sometimes, they even sell it to other scammers.
According to the Federal Trade Commission, some of the most common tactics include:
- Asking you to verify purchases
- Claiming issues with your payment information
- Offering prizes or gift cards
- Sending fake package delivery notifications
- Warning you of suspicious activity on one of your accounts
These texts are so effective because they’re often similar to texts you might receive from legitimate businesses. If you click the fake link, you might be asked for personal information or get malware installed on your phone that can extract information automatically.
Red Flags
Here are some red flags that might help tip you off that a text is a phishing attempt:
- If you don’t have an account at the financial institution mentioned in the text.
- If there are obvious spelling or grammar errors, strange spacing, or an unusual sender name.
- If the link doesn’t look like your financial institution’s regular website address.
If you’re ever unsure if a text message is coming from your real financial institution, you can always contact your bank or credit union using their official phone number.
Protect Yourself
If you avoid clicking the link in a phishing text, there is no risk to you. Your information remains secure and cannot be accessed by scammers or the person sending the text. Don’t open the link and don’t respond to the text.
Text phishing schemes will continue as long as scammers are able to profit from them. By educating yourself about these scams, you can learn to recognize phishing texts and keep your information safe.
Preventive Measures
Review your account statements often and enroll in real-time alerts. Be wary of incoming calls asking for personal information or passcodes. Take steps to avoid becoming a victim of theft by following these dos and don'ts:
- Contact the supposed text sender directly to verify legitimacy.
- Block scam phone numbers with assistance from your wireless carrier.
- Don't be fooled by a familiar area code.
- Don’t click links in text messages.
- Don’t respond to a suspicious text message.
Join us in the Cabrillo Credit Union Fraud Awareness series as we explore essential insights, tips, and strategies to protect yourself from financial scams and fraud. From identifying common tactics to learning proactive measures, empower yourself with the knowledge to safeguard your finances. Tune in to stay ahead of potential threats and ensure your financial security.
To listen to all of our podcast episodes, visit https://cabrillo.podbean.com/.