Scammers are always finding new ways to target people, and one of their latest approaches is through “smishing,” or SMS phishing. This method has become popular for scammers due to the low cost of texting and their continued success in tricking people.
Smishing for Dollars
According to the FBI’s 2022 Internet Crime report, people over 60 have suffered total losses exceeding $3 billion. As for smishing, the most recent report shows overall losses to consumers exceeds $33 million. It’s clear that smishing is a serious threat.
How Smishing Works
Scammers use urgent text messages claiming to be from banks or financial institutions, warning recipients of compromised accounts or large withdrawals. The messages prompt immediate action, such as clicking on suspicious links or calling provided numbers.
Clicking on fraudulent links can lead to stolen information and malware, while calling provided numbers can give scammers access to critical account information. It’s crucial to be cautious and not fall for these tactics.
Anti-Smish Toolkit: What to Know
Smishing messages often come in at inconvenient times, catching people off guard and prompting quick responses. However, it’s important to remember that banks will never request personal or confidential information via text message. If you receive such requests, delete and report them immediately. Additionally, never click on links or respond by phone to any texts claiming to be from your bank.
If you happen to interact with a suspicious text message, contact your bank’s fraud or security department as soon as possible. It’s better to be safe than sorry.
For more information on banking scams, visit www.banksneveraskthat.com.
Your Experience
Have you ever been a victim of “smishing”? Share your experience with us in the comments!
Nona Aguilar is an experienced writer who has contributed to various publications. Her work has been featured in Ladies Home Journal, Redbook, Family Circle, Cosmopolitan, and The Business Owner.
