Phishing, Smishing, and Vishing

Often wonder why you are:

• Receiving text messages stating your order can't be delivered, when you have never placed any orders?
• Charity emails asking you to donate with an immediate call of action.
• Receiving calls stating your online payment account has been compromised and need to validate personal or credential information.

These forms of cyber fraud attacks have become quite popular way for scammers to fetch personal or banking credentials and/or online payment information from the users. The scammers can use these credentials to monetize directly, sell credentials into dark web market or conduct Identity theft(opening up loans/services using user's information with no intent to pay).

The intent of these attacks are same just the method of contact is different.

Phishing is carried via email, Smishing with SMS/text messages and Vishing via phone, robocalls, voicemail, voice over internet protocol(VoIP).

Out of 1,060 merchants surveyed, 35% of the merchants have reported it to be the top fraud trend they are dealing with (Source: Cybersource’s Global Fraud and Payments,2022).

Prevent yourself:

• Be aware of emails or texts that have immediate call of action.
• Careful of which calls to attend. Calls that claims that your online account has been hacked and in order to resecure it you need to provide passwords, bank information etc..Some scammers may also record your voice and ask a question you're likely to answer with "Yes." They can then use this recording to pretend to be you on the phone to authorize charges or access your financial accounts.
• Be wise of which links to click. The website should start with https:// “s” in http means its using secured connections to pass the information
• Websites that claim to sell discounted products/services. Be careful of websites that carry all sizes and colors of a product that the other sites show sold out

If you believe you have been victim of such attack, report to your credit bureau, bank, online payment account organizations. Be digitally safe this holiday season!