Phishing, Vishing and SMiShing…

We’ve known about phishing for years. Now two new types of attacks have been added to the fraud watch list, according to 41st Parameter.

“Vishing” is basically phishing via the telephone; “SMiShing” is the use of text messaging as a hook to obtain sensitive information.

“The attacks are simply a way for fraudsters to present ‘bait’ to consumers in the form of some compelling message,” says David Britton, vice president of industry solutions for 41st Parameter. Some examples might include: "We have observed fraudulent activity on your credit card ... Please contact us immediately" or "As a loyal customer, we are offering you a $1,500 credit ... Contact us to receive your gift!"

Fraudsters will do whatever it takes, Britton explains, “so that consumers will willingly divulge personal financial information, which can be used to commit financial crimes.”

Solutions like those from 41st Parameter are able to detect fraud and thwart would-be criminals, but the best line of defense remains a savvy consumer.