# Smishing and fishing: the costly parallel 
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-12-23
Category: LIFESTYLE
Category URL: https://financedigest.com/category/lifestyle
Meta Title: How SMS Phishing Threatens Your Personal Information
Meta Description: Stay vigilant against SMS phishing scams as fraudsters exploit chaos caused by the pandemic to steal personal information. Learn how to spot and avoid smishing
URL: https://financedigest.com/smishing-and-fishing-the-costly-parallelhtml

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![Nikhil Shoorji, Managing Director at Infobip](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/nikhil-shoorji-450x400-1736814687322-compressed.jpg)

_By_ **_Nikhil Shoorji,_** _Managing Director at Infobip_

Much like a fisherman using realistic bait to attract fish to their hook, fraudsters capture people’s attention with a variety of tactics designed to engage without arousing suspicions. Fraudsters are taking advantage of the chaos caused by two years of a [global pandemic and an impending recession](https://www.financedigest.com/world-bank-warns-global-economy-could-easily-tip-into-recession-in-2023.html "World Bank warns global economy could easily tip into recession in 2023") to steal personal information or spread malware under the guise of legitimate companies.

This is particularly alarming given the use of SMS messages for important updates and authentication. [Infobip research](https://www.independent.co.uk/news/uk/sms-skype-b2238098.html) recently found that 69% of respondents used SMS text messages for authentication or one-time passwords and 44% said billing updates are the types of texts they regularly receive. With SMS phishing on the rise, such a key platform being at site of [fraud is a very present and looming threat](https://www.financedigest.com/battling-the-evolving-fraud-threat-the-role-of-the-credit-team.html "Battling the evolving fraud threat: The role of the credit team").

## **Back to basics**

Smishing is simply the SMS equivalent of phishing in that the ‘bait’ message is delivered by SMS rather than email. Effective smishing attacks rely on a recipient taking an action that they would not otherwise have done. This could simply be clicking on a link in an SMS message or submitting [private information by return](https://www.financedigest.com/private-astronaut-crew-including-first-arab-woman-in-orbit-returns-from-space-station.html "Private astronaut crew, including first Arab woman in orbit, returns from space station") SMS or via a fake landing page.

There are mainly **three types of smishing attacks:**

1. **Copycat marketing**

In the grey area of the law, a [business may contact a person](https://www.financedigest.com/should-you-take-out-a-personal-loan-to-start-or-grow-your-business.html "Should You Take Out a Personal Loan to Start or Grow Your Business?") pretending to be, or simply suggesting that they are a well-known brand that the person already knows and trusts. The victim  is then deceived into viewing a product or offer that they would not otherwise have [paid any attention](https://www.financedigest.com/cricket-not-enough-attention-paid-to-international-schedule-stokes.html "Cricket-Not enough attention paid to international schedule – Stokes") to. You could receive a message like you’ve won a competition! – that you never entered.

### **2\. Malware attacks**

This type of attack is malicious but has limited sophistication. Recipients are fooled into believing that the message is from a legitimate source, but this [time the link they are encouraged to click on will download malware onto the device that could infect it and potentially distribute itself automatically via the phone’s contact list](https://www.financedigest.com/oneweb-eutelsat-set-for-secondary-london-listing-the-times.html "OneWeb-Eutelsat set for secondary London listing – The Times").

All modern smart phones will have security features that stop the silent downloading of malware, but these features are far less effective when users voluntarily download something or [share their personal data](https://www.financedigest.com/shares-slip-yields-rise-as-u-s-data-sparks-rate-hike-concerns.html "Shares slip, yields rise as U.S. data sparks rate hike concerns")

3. **Fake landing pages**

The most brazen, sophisticated, and costly form of smishing is where fraudsters mimic messages from legitimate businesses to their customers, encouraging them to visit a fake landing page where they are instructed to enter personal information and login credentials which are then stolen and used to access the [real accounts](https://www.financedigest.com/its-time-for-real-time-accountancy.html "It’s time for real time accountancy ").

The most [successful smishing attacks will also incorporate social](https://www.financedigest.com/remote-working-during-covid-a-successful-social-experiment.html "Remote working during COVID: a successful social experiment") engineering tactics. Harvested information will often be stored and used in a later attack. After sufficient [time has passed the victim will not put two and two together](https://www.financedigest.com/finger-pointing-helps-no-one-it-is-time-for-retailers-energy-providers-and-government-to-band-together.html "Finger-pointing helps no one: it is time for retailers, energy providers and government to band together") and realise they’ve been scammed

## **For a smishing attack to occur, you may ask how did fraudsters get my mobile number in the first place** **?** Here are 3 ways:

- [**Data breaches**:](https://www.financedigest.com/outthink-raises-10-million-to-tackle-human-errors-behind-data-breaches.html "OutThink raises million to tackle human errors behind data breaches") When hackers gain access to an organisation customer database, the information they steal could include anything from login and password details to addresses, and of course mobile phone numbers.
- **Website scraping**: Your phone number may be listed in multiple legitimate places on the internet,  from old [social media](https://www.financedigest.com/yoono-discuss-the-importance-of-social-media-checks.html "Yoono discuss The Importance of Social Media Checks") profiles to clubs that you once belonged to. Fraudsters use software that continually scans the internet looking for combinations of numbers that look like [phone](https://www.financedigest.com/your-phone-number-on-google-search-giant-now-takes-removal-demands.html "Your phone number on Google? Search giant now takes removal demands") numbers.
- [**Saved form data on your browser**: Depending on your browser settings, when you fill out a web form the information that you enter can be saved in memory so that the browser ‘remembers’ your details the next](https://www.financedigest.com/6-tips-to-save-money-on-your-next-used-car-purchase.html "6 Tips to Save Money on Your Next Used Car Purchase") time you fill out a similar form. If this data is not locked down by the browser, it can be found and extracted by malware that then transmits it to external [third parties](https://www.financedigest.com/why-a-replacement-to-third-party-cookies-is-key-to-post-pandemic-recovery.html "Why a replacement to third party cookies is key to post-pandemic recovery").

**So, how can we stay alert? The onus is on telecom providers**

As the sophistication of smishing attacks grows, it becomes even more difficult to recognise them; the onus is on telecom operators to take charge. It is actually in their best interest to take a proactive approach. A successful attack will **erode confidence in application to person (A2P) messaging**, causing customers and the [brands they buy](https://www.financedigest.com/loreal-buys-luxury-brand-aesop-with-eye-on-china.html "L’Oreal buys luxury brand Aesop with eye on China") from to move away from SMS and onto other messaging platforms.

[Mobile operators](https://www.financedigest.com/russian-regulator-says-mobile-operator-mts-breached-anti-monopoly-laws.html "Russian regulator says mobile operator MTS breached anti-monopoly laws") should not fear, they have an ally in partnering with the right vendor. SMS firewall, [defends mobile networks against all SMS-based messaging attacks](https://www.financedigest.com/how-to-detect-and-defend-from-seo-attacks-and-customer-complaints.html "How to Detect and Defend from SEO Attacks and Customer Complaints"). All [messages are routed](https://www.financedigest.com/cm-introduces-texter-to-test-reliability-of-messaging-routes.html "CM introduces Texter to test reliability of messaging routes") through the firewall are analysed. This [technology can help secure](https://www.financedigest.com/top-5-security-technologies-that-every-finance-institution-workplace-should-consider.html "Top 5 Security Technologies That Every Finance Institution Workplace Should Consider") their mobile eco-systems. The right provider with a rich set of tools can provide:

- Links to a continually [updated database of malicious URLs that can be automatically blocked in real-time](https://www.financedigest.com/myfirmsapp-makes-real-time-autumn-budget-updates-available-digitally-on-easily-downloadable-app.html "MyFirmsApp makes real-time Autumn Budget updates available digitally on Easily Downloadable App")
- Proactive threat detection which uses [machine learning](https://www.financedigest.com/transforming-insurance-through-artificial-intelligence-and-machine-learning.html "Transforming Insurance Through Artificial Intelligence and Machine Learning") to preempt attacks
- Automated [responses to identified threats](https://www.financedigest.com/forescout-and-fireeye-expand-partnership-enabling-faster-response-to-cybersecurity-threats.html "FORESCOUT AND FIREEYE EXPAND PARTNERSHIP, ENABLING FASTER RESPONSE TO CYBERSECURITY THREATS")
- [Detection](https://www.financedigest.com/how-real-time-data-innovation-is-driving-up-customer-experience-in-fintech.html "How real-time data innovation is driving up customer experience in fintech") of MSISDNs that are not “real customers” based on SIM box detection that can provide MSISDN reputation analysis

With all that’s going on, in a [time where consumers](https://www.financedigest.com/adapting-payments-to-reassure-consumers-and-safeguard-profitability-during-times-of-uncertainty.html "Adapting payments to reassure consumers and safeguard profitability during times of uncertainty") are particularly weary, and competition is fierce in the messaging space, telecom providers need to remain dependable. Using SMS messaging for any form of alert, whether [big or small](https://www.financedigest.com/trade-finance-the-small-brush-to-paint-the-big-picture.html "Trade Finance: The Small Brush to Paint the Big Picture"), should be simple. With the powers of SMS firewall, telecom providers can be an aid and make one [part of life](https://www.financedigest.com/factbox-from-spreads-to-shampoo-palm-oil-is-part-of-everyday-life.html "Factbox – From spreads to shampoo, palm oil is part of everyday life") just that little bit easier.


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