SMS Phishing: The Rise of Text Message Scams

Text messages have become the primary form of communication, and now they’re becoming the primary form of scams. SMS phishing, or smishing, is not a new method for scammers but has increased dramatically in recent years. If you have noticed a surge in text messages from popular businesses like Netflix, UPS, or even a popular bank claiming a problem with your account information, you are not alone. 

According to Robokiller, a company that offers scam-blocking services for mobile devices, there was an 80 percent increase in robotexts from 2021 to 2022. Data from the US Federal Trade Commission shows that more than 321,000 Americans reported falling for a phone-based ‘smishing’ scam last year alone, losing more than $326 million. Many users and even some government officials are calling for action to stop the scams. 

Last month, the federal government demanded mobile phone companies start blocking spam text messages, a move that the Federal Communications Commission (FCC) has “described as its first of several planned steps to combat the rampant phone fraud,” according to The Guardian.  

Some may think they are above falling for smishing scams, but scammers have evolved along with technology, and the recent surge in text message scams has become more difficult to catch. Because scammers know that text messages are a more trusted form of communication due to their intimate nature, they have leveraged that trust and even created realistic web pages to con users out of their money. The scam typically comes in the form of a message from a trusted company claiming an issue with financial information. 

An Ohio resident, Kelli Hinton, recently lost $15,000 to a scammer posting as a Chase fraud investigator. After receiving a text message asking her to verify that she had authorized $7,500 to be wired out of her account, she received a phone call from a man claiming to be a Chase fraud investigator. Hinton said the 800 phone number matched the one on the back of her bank card. The process lasted more than an hour and resulted in the loss of $15,000. 

Data security is becoming a critical step in proper IT asset management. With scams overrunning our emails, phone calls, and text messages, it’s important to ensure data safety, especially with such a large portion of the world working from home. Business electronics are not exempt from these attacks, and companies should ensure their data is secure even after retirement. 

HOBI International, Inc. is an R2v3, RIOS, and ISO-14001 certified IT asset management and disposition enterprise with more than 30 years of industry experience. HOBI offers a range of services, including top-tier data security and erasure, and Mobile Lifecycle Management (MLM) for Mobility Managed Services (MMS) programs. 

HOBI partners with businesses and ensures all IT equipment is disposed of properly and completely wiped of data before recycling. We also offer repair and remarketing opportunities for hardware not yet beyond the end of use. HOBI prioritizes client satisfaction and focuses on maximizing IT asset value. 

For more information about our ITAD services, call 817-814-2620 or contact HOBI at sales@hobi.com.