Phone scams are nothing new, but the techniques behind them have evolved. Let’s talk about Vishing, a type of fraud that is rapidly growing and one you should know about to fully prevent.
What is Vishing?
Vishing is a method of phone scam where criminals trick people into providing sensitive information, such as a password or card number. They use psychological techniques to gain people’s trust and make them believe they are in an emergency situation.
This type of attack has become more common because phone calls are still used as a way to deceive people.
How does Vishing happen?
The process of a Vishing attack begins when scammers use software to imitate trusted phone numbers, such as those from a bank, a cryptocurrency exchange, or a service company. Once they have the victim on the line, they use convincing arguments to obtain information.
For example, they might tell you that your bank account has been compromised and they need your card number to “verify” your identity. If you fall for it, they can perform illegal transactions on your account. For this reason, it’s also important to know the modus operandi of these scammers and how to identify Vishing.
What is the modus operandi of scammers who use Vishing?
Generally, the modus operandi of criminals applying this type of fraud usually involves a series of steps to carry out the scam:
- Identity spoofing: They use techniques to make the number they are calling from appear legitimate.
- Creating a believable story: They claim there’s a problem with the victim’s account or that an information update is needed.
- Obtaining data: They pressure the user into providing personal information or sensitive financial data.
- Theft: They use all the collected information to steal funds or carry out fraudulent activities.
Now that you know how they operate, we invite you to keep reading to learn how to identify and prevent Vishing.
How can I identify and prevent Vishing?
- Don’t trust any unexpected call that asks for personal information.
- Always confirm that the number calling you is from the actual institution in question.
- Enable multiple authentication methods to increase the security standards of your accounts.
- If you’ve received any fraudulent calls, report them to your phone provider or the entity the scammers were attempting to impersonate.
By following the mentioned tips, you can effectively avoid Vishing and identify it more easily. Additionally, it’s always important to stay informed about the different types of fraud and how to recognize them to protect yourself.
At Bitso’s Help Center, you can find more information related to your digital security, how to protect yourself, and how to identify and prevent these types of scams. Don’t hesitate to visit.
