A MAJOR bank has urged the banking public to be wary against the prevalence of short messaging service (SMS) or text hijacking, a type of scam wherein fraudsters impersonate legitimate SMS senders to dupe recipients into believing the messages they receive are authentic.
BDO in an advisory on Monday cited reports from law enforcement agencies that said illegal cellular sites, also known as international mobile subscriber identity catchers, are using sender IDs of trusted brands like BDO to make scam texts appear legitimate.
These spoofed messages usually entice clients with claims of prizes won, free gifts, or claims of account problems. The scammer then instructs the client to click on a link included in the spoofed message.
Once clicked, the fake link will lead to a fake website, wherein the victim will be instructed to enter his/her account details including username, password and one-time PIN or OTP. After this information has been shared, the scammer will then use these bank credentials to gain access to the victim’s bank account and steal their money.
Meanwhile, Smart Communications Inc. urged its customers not to click links embedded in unwanted text messages or SMShing messages.
These links may lead to phishing web sites that steal users’ personal information.
Recently, fraudsters launched phishing attacks where they prompted victims to re-register their subscriber information module or SIM or risk losing mobile service. Smart is working closely with the National Telecommunications Commission to curb the use of fake cell towers. Smart is also collaborating with the Cybercrime Investigation and Coordinating Center to address scams, support investigations, apprehensions, and prosecutions of parties involved in scamming the public.
