Smishing is the act of sending fraudulent text messages to bait a victim into revealing personal information.
Be suspicious of text messages that indicate a problem or question regarding your financial accounts.
In this scam, fraudsters direct victims to follow a link or call a number to update an account or correct a purported problem. The link directs the victim to a fraudulent website or message that appears legitimate.
Instead, the site allows the fraudster to steal any personal information the victim provides.
Current smishing schemes involve fraudsters calling victims’ cell phones offering to lower the interest rates for credit cards the victims do not even possess.
If a victim asserts that they do not own the credit card, the caller hangs up. These fraudsters call from TRAC cell phones that do not have voicemail, or the phone provides a constant busy signal when called, rendering these calls virtually untraceable.