Mobile phone scams are scams perpetrated using a mobile phone, often through phone calls or text messages. Scams perpetrated through phone calls are known as Vishing while those through text messaging are called Smishing. Both are forms of phishing, which is the use of deception to obtain sensitive information. The goal of the scammers is a monetary payoff. This is done by selling the information to a third party with malicious intent or using it to defraud the victim. Below are some common tricks used by mobile phone scammers.
Asking victims to “confirm” financial information. For instance, you might receive a call from a scammer posing as a customer support agent from your bank claiming to be calling to confirm your details due to some system outage. The scammer would then call out data about you such as name and date of birth obtained from a leak. After you have confirmed the information as true, the scammer would then ask you to call out your card numbers to see if it matches what they have on their records. The play here is to trick you into revealing financial information using other sensitive information already gathered from other sources.
Impersonating past acquaintances. Scammers might call you or send you a text claiming to be a classmate from school or an acquaintance from NYSC. They would then present a bogus scheme to extract money or sensitive information.
Use of fear and urgency. Scammers might send you a text message right before the start of a holiday that your account will be blocked if you do not take their prescribed action. They aim to get you to panic and take an action due to the knowledge that once the holiday starts no one at the bank will be able to attend to you.
Pretending to help solve a problem that doesn’t exist. Scammers can call pretending to be from your bank and claim that there’s been some unusual activity on your account that resembles a fraudulent transaction. They will then proceed to ask you to disclose your financial details, so the attempt can be stopped.
Steps for Protection
- Never, under any circumstance, disclose your financial data (e.g. OTP, account number, online banking username and/or password, ATM PIN, Debit card number, CVV, BVN, etc.) to anyone over the phone or via text message.
- Always keep in mind that no financial institution or organization will request for sensitive information via a phone call or text message.
- If you have received a text message or a call from someone claiming to be from your financial institution, do not act at once. In the case of a call hang up, then call the customer service number provided by your bank to confirm if the communication was from them.
- If you receive a text message asking you to click a link do not do so except you are expecting or asked for it.
- Use caller Identifier applications that can flag spam numbers.
- Never store personal details like passwords or PIN numbers in texts or emails that are accessible through your phone.
- Slow down if a message is claims to be urgent. You should approach urgent account updates and limited time offers as caution signs of possible smishing. Remain skeptical and continue carefully.
To find out about more scams and the ways you can protect yourself and your loved ones, read our book of scams.