Beware of Smishing: Protecting Yourself from Text Message Scams

Introduction:

In today’s digital age, scams and cyber threats are evolving rapidly, with scammers. Smishing, a combination of “SMS” and “Phishing,” is one such method that has gained prominence in recent years. Among various types of attacks in cyber security, Smishing falls into the category of social engineering tactics that exploit human trust. In this blog, we’ll explore what smishing is, how it works, and most importantly, how you can protect yourself from falling victim to these text message scams.

Cybercriminals are constantly seeking novel methods, especially targeting mobile devices known for their vulnerability to breaches. SMS texts are ideal targets due to their perceived personal nature and the difficulty in detecting them.  

What is Smishing?

Smishing is a fraud activity that uses text messages (SMS) to trick individuals into revealing personal information, downloading malicious content, or sending money to scammers. It relies on social engineering and manipulative tactics to exploit people’s trust and curiosity.

Characteristics of Smishing attack:

Urgency: The scammer might employ strategies based on urgency by including time-sensitive discounts or special offers in the communication. This appeals to the victims’ FOMO, which makes them forget to evaluate the legitimacy of the offer. 

Fear tactics: Messages informing the victim that their account has been compromised and need rapid verification are commonly sent by attackers as a fear tactic. It is more probable that the victim will act under pressure if this feeling of loss is created.

Background: The attackers attempt to exploit circumstances that might be important to the victim by perusing their internet profiles and other information. If messages are more specifically tailored to the recipient, there is a better likelihood that they will not recognize them as spam or phishing. 

Readiness to help: Criminals often use fictitious family members or close friends to convince their victims into doing something harmful. Using this tactic, they want to take advantage of people’s strong feelings of loyalty to or compassion for those closest to them.

Why are smishing attacks increasing?

The increase in smishing attacks is being driven by multiple sources. They are not only simple to use, but they also deceive people into revealing the needed information with just their phone numbers and messages. Other factors that contribute to smishing attacks include:

• People are more inclined to reply to or carry out the instructions in communications they receive via SMS or messaging applications than they are in emails.
• People are less reluctant to share their phone numbers in person and on digital platforms, making phone numbers easily accessible.
• Text messages can be sent and received from any location on the globe.

Objectives behind Smishing Attacks:

Smishing attacks commonly aim to acquire one or more of the following four types of information:

1. Personal Identifiable Information (PII) such as names, addresses, and phone numbers are highly desired by fraud.

2. Financial credentials, such as banking details, credit card Information, and login credentials, are required to conduct unlawful transactions or engage in financial fraud.

3. Corporate data refers to sensitive corporate information, Including confidential data, intellectual property, or trade secrets, which can be exploited or misused by attackers for malicious objectives.   
4. Login credentials for online accounts, such as email, social    media, e-commerce, or cloud storage platforms, enable hackers to seize control of the victim’s accounts and perpetrate additional fraudulent activities.

How to Detect a Smishing Attack?

Smishing attacks are complicated and frequently go unnoticed.  To defend themselves, victims must understand what constitutes a smishing attack and take appropriate precautions. They must also search for signs that may indicate smishing efforts.

Here are some methods for identifying a smishing attack:

1. To send a message, choose a shorter number that just has a few digits.
2. Attempt to target data stored on the smartphone.
3. Messages that generate a sense of urgency to reply.
4. Exclusion of the company’s domain name from the URL provided in the communication.

Questions to ask when you receive unsolicited text messages:

1. Does the message convey a strong sense of urgency or need quick action? 
2. Does the message direct you to websites that request sensitive information such as personal information, credit card numbers, or passwords?
3. Does the message seem too good to be true?
4. Does the connected website or service require you to pay with non-standard means like Bitcoin, gift cards.
5. Is the message asking for the multi-factor authentication code transmitted to your phone or created by the banking app?  Never give this away.
6. Does the message look like a “wrong number?” If so, do not respond or contact the sender; instead, delete it.

Common Smishing Scams:

Here are some typical smishing scams that you should be aware of.

1. Account verification: The fraudster appears as an employee of your bank or credit card provider and claims to have spotted strange activity on your account. To authenticate your account, you will be prompted to input personal information.
2. Demands for payment: The scammer pretends to work for a federal entity and claims that you owe money. They may threaten you with a fine or arrest if you do not pay.
3. Order/Shipping confirmation: Even when you haven’t placed an order recently, the scammer provides you with a link to track a parcel or validate your order. The link can ask for your password and username, or it might infect your device with malware.
4. Winning a prize: You are duped into believing that you have won a contest. They may then request confidential information or provide instructions on how to access your bank account to initiate a deposit.
5. Tech support: The fraudulent individual proposes to rectify a computer issue that you were previously unaware of. They might request that you access their help website, install software for remote control, or disclose your account credentials and passwords. 

Here’s how smishing typically works:

Initial Contact: Scammers send text messages to potential victims, posing as legitimate entities such as banks, government agencies, or well-known companies. These messages are designed to grab the recipient’s attention. It is not uncommon for phishers to try spoofing to give the impression that their attempt is more authentic.

SMS Spoofing: While both SMS spoofing and Smishing relate to phishing in cyber security, both are quite different. Making a message appear as though it originates from a legitimate source is known as SMS spoofing.

Urgency and Scare Tactics: Smishing messages often create a sense of urgency or use scare tactics to prompt the recipient into immediate action. For example, they might claim that your bank account has been compromised, your package is being held, or you owe unpaid taxes.

Fake Links and Phone Numbers: Scammers include links in the text message that, when clicked, lead to phishing websites. These sites mimic legitimate ones to deceive victims into providing sensitive information like usernames, passwords, or credit card details. They may also include a phone number for you to call, which connects you to a scammer pretending to be customer support.

Malware Downloads: Some smishing messages include links or attachments that, when opened, download malicious software onto your device. This can lead to data theft, unauthorized access, or even control of your device by the attacker.