Beware! Smishing Attacks on the Rise: Learn How to Stay One Step Ahead

What is Smishing? Plus, How to Defend Against It

So, what is smishing? Like phishing, it’s a type of cyber attack used to steal personal information from unsuspecting victims. Smishing, however, is distinct in that it is done via texting (SMS messaging). Through social engineering, hackers use psychological manipulation to trick people into revealing sensitive data or taking actions that could lead to financial loss or identity theft.

Many kinds of smishing attacks exist and new ones are constantly appearing. However, they generally take the form of one of the following:

• Phishing links
• Malicious attachments
• Fake offers

Smishing attacks can have devastating consequences for both individuals and businesses. To defend against smishing, it’s crucial to be aware of the different types of smishing. Tips for avoiding smishing include:

• Be suspicious of any unsolicited text messages from unknown senders
• Never click on links in texts or open attachments unless you are sure they are safe
• Never share personal information via text message

How Does Smishing Work?

Understanding smishing is the key to protecting against it. The psychology of smishing relies entirely on manipulation, which makes it particularly effective.

Smishing starts with an attacker crafting a message that appears to be from a legitimate source. Common sources attackers pose include:

• Someone’s bank or credit union
• A local or federal government agency (like the IRS)
• A business

Attackers use persuasive language and other sneaky tactics to appear legitimate and convince the recipient to take the steps they want (generally revealing personal info or clicking on a phishing link). By being aware of common techniques used by attackers, individuals can better protect themselves against these types of attacks.

Common Types of Smishing Attacks

There are many types of smishing attacks! Some of the most common ones are:

COVID-19 Info

COVID-19 smishing is a type of smishing attack in which scammers send phishing messages related to the pandemic (such as vaccine info). These messages may contain malicious links or attachments that, when clicked, can lead to malware being installed on the user’s device.

Real-life smishing examples are more common than you might think! In 2022, the attorney general even had to issue a stern warning after scammers in New Hampshire posed as the DMV and DHS via text to steal personal info.

Financial Services

Financial services smishing is another form of smishing attack wherein criminals attempt to gain access to users’ financial data by sending them phishing messages disguised as legitimate banking notifications. In some cases, they may even ask for personal information such as account numbers and passwords.

Financial-related smishing is on the rise in recent years! Because of this, users can now report online to the FTC.

Preventing Smishing: Tips and Best Practices

Preventing smishing attacks is the key to protecting against cyber-attacks like identity theft!. Self-education is extremely important— users must be able to recognize suspicious messages or links that could lead to a scam. So with that being said, here are four tips for secure online behavior:

Tip #1

Never click on links or open attachments from suspicious or unknown sources,

Tip #2

Never share passwords and credit card numbers with untrusted sources. Also, ensure you know how your bank communicates and through what source(s).

Tip #3

Use two-factor authentication (2FA) whenever possible!

Tip #4

Regularly update your device’s operating system and antivirus software to prevent the latest threats from infiltrating your device or network.

What to Do if You Become a Victim of Smishing

If you fall victim to a smishing attack, it is critical to take immediate action to report and mitigate the impact of the attack. Here are five steps you can take:

Call Your Bank Right Away

Immediately contact your bank or credit card company. Inform them that you have been a victim of smishing and ask for assistance in resolving the issue. They can also lock and/ or monitor your accounts.

Update Your Passwords

Change all passwords associated with any accounts that may have been compromised.

Use Antivirus Software and Perform Regular Scans

Scan your computer for viruses and malware using an up-to-date anti-virus program. Most can be programmed to run scans automatically.

Reporting Smishing Attacks

Report the incident to local law enforcement authorities as well as organizations like FTC or IC3 which specialize in reporting cybercrime incidents.

Keep an Eye on Your Accounts

Monitor your accounts closely for any suspicious activity and alert your financial institution immediately if anything appears out of the ordinary.

Smishing Awareness in the Digital Age

The nature of smishing attacks is constantly evolving! This makes it increasingly difficult to detect and protect against this technology.

So what can people do? Well, there are a few options! Smishing awareness and education are two major components in combating these threats. Another element is the potential that new and expanding technologies (like AI) offer

For example, Artificial Intelligence (AI) is being used more and more to monitor phishing attacks by automatically detecting malicious messages. The use of AI allows organizations to respond faster than ever before to prevent damage. AI-based solutions can also send alerts to organizations when suspicious activity is detected.

Smishing and Cybersecurity: Industry Insights

Cybersecurity companies and organizations alike are taking steps to combat smishing by developing sophisticated technologies. This includes elements like:

Machine Learning Algorithms,

Through the use of AI and analytical data, companies can develop technology that can detect and prevent smishing attacks.

User-Education and Involvement

Many organizations are also focusing on educating users on how to identify and protect themselves against smishing attempts, (such as being wary of suspicious links or requests for personal information).

Partnering with Authorities

Additionally, they are working with law enforcement agencies to investigate and prosecute those responsible for evolving smishing attacks.

Protect Against Smishing

Proactive measures are essential for any organization that wants to stay vigilant against smishing! A few good practices are

• Being aware of the latest scams and techniques
• Keeping personal information secure
• Regularly updating security software
• Developing new technology (such as with AI)

Like any digital technology, ways of protecting against smishing are constantly changing and evolving. Regular, ongoing education is always the best way to combat it!

i.e.Smart Systems is a Houston, TX based technology integration partner that specializes in design and installation of audio/visual technology and structured cabling. For more than three decades, our team of in-house experts has partnered with business owners, architectural firms, general contractors, construction managers, real estate developers, and designers in the Houston market, to deliver reliable, scalable solutions that align with their unique goals.