Protect yourself from Spear phishing and Smishing

You may have heard of the term Phishing which is a form of social engineering and a scam where attackers deceive people into revealing sensitive information or installing malware such as viruses, worms, adware, or ransomware. There are however other forms of phishing which are just as deceitful such as Spear phishing and Smishing.

Spear phishing emails have a more targeted, personal feel to them. It is addressed to the recipient specifically and seems to come from legitimate sources, such as your bank, your insurance company or a legal firm. This is where information attained from social media platforms come into play. A sense of urgency and pending doom (a potential fine for inaction, account lockouts, increased interest rates etc.) could entice users to action emails. Often, a request for card or account login information is worked into the theme of the email.

In much the same way, social engineers will call you and armed with a few well-chosen names or phrases they pretend to be from your bank, eager to help you with a potential account problem you did not even know existed. Vishing is the term assigned to this form of ‘voice phishing’. These guys will often speak your language and are exceptionally friendly and helpful. It is their aim to gain your trust.

Another form of phishing attack is via text messages and has been annotated the term Smishing (SMS Phishing). It is imperative that you do not entertain unsolicited emails, texts or conversations, especially where your payment card- or personal banking information is involved.

Having said this, it is not all “doom and gloom”. As users of social media, the internet and multiple devices it requires of us to be vigilant and alert. The battle begins with each of us being knowledgeable and ensuring that we stay up to date with the latest trends in the field of cybercrime.

To reiterate, never share any of the information typically required to do online transactions. This includes the full card number, the card expiration date and the CVV number. You are encouraged to rather contact the bank via the contact centre or the branch to confirm if there really is a problem with their account.

When receiving an email or a voice note, do not allow yourself to be drawn into emotional urgency to act on it without confirming its legitimacy. ?

Due to diverse technological inventions, criminals have found more cunning ways to deceive us and access our funds. You can help prevent phishing scams by starting to be mindful of being mindful of the information that you share. Let us all be mindful of what we share on social media, think before you post.