What is Smishing and How to Protect Yourself Against It?

Posted on: Sep 29, 2022 | 3 mins | Written by: HDFC ERGO Team

What is Smishing and How to Protect Yourself Against It?

While the world today lives on the internet. From banking to groceries to even education, everything today is online. While the internet has been a boon for many but it has come with its share of issues and concerns. The main problem that many faces today is that of cybercrimes. There are various kinds of crimes and frauds that take place and thus, cyber insurance is very important. This is one of the most important policies a corporate with an online presence should have.

One of the cyber issues or crimes that has become very common is that of smishing. This is essentially a cybersecurity attack which involves phishing using mobile text messages. The other word commonly used for this is SMS phishing.

Under this sensitive and important information is taken from users by deceiving them. With this and other crimes happening openly, it is important to have a cyber insurance policy. Let us know to understand in detail what exactly is phishing and how can you defend yourself against it.

What is Smishing?

Smishing is a term that has been made by combining SMS and phishing. SMS can be a short message service which we in common language call texting. It can be done on mobile text messaging platforms which will also include mobile messaging applications that are data-based. Smishing is more about exploiting the user using technology rather than their trust, and thus, it is known to be a kind of social engineering attack.

While phishing, cybercriminals as they are commonly known, send fraudulent emails that trick the reader to click on a link which is malicious and can lead to a cyber attack. In smishing, the same is done using text messages.

By getting you to click on these links, the main aim is to get access to personal data using which they can commit fraud and other crimes. The main fraud that is seen is stealing money from personal or company accounts if the links get them the needed information. This makes it necessary to stay protected and have cyber security insurance.

There are Two Methods Used by Cybercriminals to Steal Data

● Malicious website:

They send a link in their message which will direct you to a website that asks for sensitive personal information. These sites are custom-made and usually look the same or very similar to popular banking or other sites. The similarity is so much that it is easy to get confused and you will give the login or other personal details which will give them access to the information.

● Malware:

The other common way used by these criminals is that they send a link in a text message and this prompts you to download an application or software on your phone. This looks like a legitimate application but it will require you to give in confidential information and this data is used by the attackers to commit frauds. The most common instance of smishing is getting messages from the bank which will ask for account or ATM card details like pin etc. This is the main reason banks send repeated reminders to never share one-time passwords or PINs with anyone even if they claim to be bank employees. Such sensitive information should never be shared with anyone for any reason. With increasing crimes and fraud, having a cyber insurance policy becomes crucial. With the policy, you also need to know how to prevent being the target of such attacks.

Tips to Prevent Smishing

Though these attacks sound scary and one must have cyber insurance, the positive part is that avoiding falling into the trap is not difficult. The attack can only happen if you link on any link which leads to a website or software which requires secure information. Many legitimate messages also come daily as this is one of the easiest and main ways of marketing currently. The key is to be safely and act sensibly to these messages. A few things should be kept in mind to defend yourself against smishing.

● Avoid Responding

Be careful to not respond at all to any message which seems suspicious. Sometimes a simple message STOP can be a trick and rather than unsubscribing can lead to the identification of active numbers. There should be no engagement of any kind on these marketing messages.

● Remain Calm

These messages take advantage of the fact that we tend to get scared and hyper and thus, messages which show any kind of urgency should be a red flag. Be sceptical if there is a time limit of any kind and do not act in haste.

● Call if Doubtful

If you feel you have got a message from your bank and it needs any action and you are doubtful, rather than clicking on the message, just call your bank and double check. If it is something they need customer care will be able to help you at the same time.

● Check the Sender Details

Always double-check the sender's details. Like a bank will not send an SMS directly with its name. Read the name of the sender carefully and do not click on any link until you are sure of what is the message about and also about the sender.

● Don’t Store Account Details

Any credit card number or account number should not be stored on the phone as this is the easiest way to be a victim of fraud.

● Use 2-Way Authentication

This is a simple and easy way to stay safe from these messages. A password saved but not visible until a two-way authentication is done is the safest way to avoid fraud. Verification is important to show passwords and this way does not give access to criminals.

● Stay Safe

Always have an anti-malware app which will keep you safe. Also, ensure you have cyber insurance to claim any frauds if they do occur and cost you a lot.

Report

All phone providers have an option to report such smishing messages and thus, always do it so that the authorities can take timely action.

Conclusion

Phishing and smishing are common practices used by cybercriminals. There is a lot to lose if these people get their hands on the information they need. Thus, being careful and understanding the repercussions of the same is very important. Another very important thing to do is to have a cyber insurance policy. When you have cyber security insurance these frauds and crimes will keep you protected and save you from incurring big financial losses. Ensure you have a policy, and you are always very careful while taking any action on messages and emails until you are sure.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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