Remember when phishing attacks primarily came through email? A more immediate and personal threat has emerged: SMS phishing, also known as “smishing.” As mobile device usage continues to climb, so does the risk of falling victim to these deceptive attacks. Recent statistics indicate that SMS phishing is on the rise and has a much higher success rate than traditional phishing due to various factors. We will review hackers’ tactics and present ways to protect yourself and your business from a smishing scam.
Eye-Opening Statistics You Should Know
- Increase in Attacks – According to recent data from the Anti-Phishing Working Group, the total number of reported smishing attacks increased by over 400% from 2020 to 2023.
- Businesses Attacked – Nearly 76% of companies report being targeted or attacked by a smishing scam each year.
- Economic Impact – In 2024 alone, consumers lost around $1 billion to smishing scams.
What Makes a Smishing Scam So Effective?
The Immediacy of Text Messages
Text messages are frequent and instant. In 2024, the average American sent or received about 50 texts a day and typically responded within 90 seconds. Compare that to email, which has an average open rate of just 20%, while SMS messages have a staggering open rate of approximately 98%. This sense of urgency and trust in text communication makes it easy to fall for a smishing scam, especially when the message appears to come from a familiar source or demands immediate action.
The Sophistication of Scams
As corporations and the general public become more aware of potential cyber threats, scammers have adapted with increasingly sophisticated techniques. These tactics often involve carefully crafted messages using advanced social engineering strategies designed to mimic legitimate communication. For instance, a message may reference a specific account issue or create a false sense of urgency to exploit the recipient’s emotions, pushing them to respond quickly without thinking. This level of believability makes it harder than ever to detect a smishing scam at first glance.
5 Simple Ways You Can Protect Yourself from Smishing Scams
1. Verify Before Clicking
Always verify the source of unexpected messages. Don’t click on links or respond to texts from unknown numbers. If you suspect a message could be legitimate, contact the organization through other means.
2. Educate Yourself and Your Employees
Learn to recognize common smishing tactics and ensure your employees can, too. It’s that simple: the more you know, the better you can protect yourself.
3. Use Security Software
Invest in reputable security software on all devices, including smartphones. Many solutions offer phishing detection features that can help identify and block potential smishing scam attempts before you even see them.
4. Multi-Factor Authentication (MFA)
MFA requires a second form of verification, such as a mobile device or biometric data, in addition to your password. Even if a scammer obtains your login credentials through a smishing scam, they still need the second factor to access your account.
5. Regularly Update Your Software
Keep your operating system and mobile apps updated to ensure the latest security features and patches protect you. Many updates include fixes for vulnerabilities scammers target, especially those used in SMS and messaging systems.
Smishing Alert: Stay Vigilant Across All Devices and Platforms
With the rise of AI-powered tools and increasingly deceptive tactics, the frequency and complexity of smishing scams are only expected to grow. Staying informed, implementing the proactive steps mentioned above, and considering a trusted cybersecurity provider like TCI Technologies can reduce your risk. Regarding smishing scams, vigilance, and preparedness is your best defense.
