How to Identify Common Text Message Scams

Text message scams are astonishingly common these days. Unfortunately, according to the latest SMS phishing statistics, losses from these scams are increasing—more than $330 million was lost in 2022 compared to $54.2 million in 2019. These scams come in various shapes and sizes, but they all seek to separate you from your hard-earned money. The good thing is that you can protect yourself and your loved ones from these scams. It just takes a little education and awareness.

Common Types of Text Message Scams

The sheer volume of text messaging scams continues to accelerate. However, some scams are more common than others.

Phishing & SMiShing (SMS Phishing) Scams

These scams pretend to be someone else, such as a credit card or bank, and contain what appears to be a critical alert. For example, a text may tell you a card has been opened in your name or an Amazon order placed for a large amount. You’re instructed to click the link to manage this seemingly important information. Once you have entered your username and password, the sender can access your sensitive information.

Lottery or Prize Scams

These text scams say you won a prize, raffle, or lottery. Clicking on a link will likely install malware, solicit personal information, or require you to pay before you claim your “prize”—which you will never get.

Verification Code Scams

Many services require you to put in a secondary number to confirm your identity. A hacker may be able to get your username and password but not your verification code. In these scams, you may get an unexpected verification code followed by a text asking you for it because the user says they used your number by mistake.

Wrong Number Scam

Someone may text you a random non-sequitur and then say it was the wrong number. They will apologize and attempt to engage you in a conversation. This is a long con designed to take advantage of your kindness to earn their trust—and, ultimately, your money.

Identifying Characteristics of Scams

Regardless of the type of text message scam, many have various attributes in common. A scam text may:

• Involve completely unexpected messages from a supposed trusted family member or friend, even though they may not be able to provide any personal identifying information
• Request personal information that could be damaging if it falls into the wrong hands (e.g., name, address, social security number, username, or password)
• Contain urgent or threatening texts designed to get you to stop thinking by stating or implying that harm will come to you if you don’t immediately comply and address the potential threat
• Consist of typographical errors and strange characters or seem to be written by someone who does not speak fluent English
• Contain suspicious links to websites you have never heard of or shortened links to disguise where the link will take you

Protective Measures

While these texts can be deeply deceptive, there’s good news: With some foresight and knowledge, you can avoid falling victim. Here are some ways to protect yourself from scam texts:

• Never click on a link from an unknown sender or suspected spam. The link may hijack your personal information or install malware on your phone.
• Always verify the sender. If it is someone who claims to be a trusted loved one, ask them a question only they could know.
• Ignore texts with suspicious verification codes and change the username and password of the impacted service immediately.
• Use security tools or apps like Textkiller. You can also block text messages from unknown numbers by adjusting your mobile device’s settings.
• Follow FTC guidelines. You can report the text scam online and by forwarding the text to SPAM (7726).

What To Do if You’ve Been Scammed

Unfortunately, despite your best efforts, you may be the victim of a text scam. If that’s the case, you should do a few things.

1. Rectify Situation – First, take steps to rectify the situation immediately. If you visited a link, contact the appropriate tech support to ensure no malware is installed on your phone. If you gave someone your username or password, use another device to log in and change your username and password as quickly as possible.
2. Contact Authorities – Next, contact relevant authorities, including the police, FTC, or your state Attorney General’s office. While this may be necessary for insurance purposes, filing the report lets the authorities know what scams exist so they can protect others from falling victim.
3. Monitor Accounts – Finally, monitor relevant accounts, including your social media and bank accounts. You may want to sign up for identity protection if you have not done so already. That way, you can monitor your credit score and be alerted if anyone opens any financial products in your name.

For additional advice on customized situations, visit the FTC website.

Village Bank is Here to Help

At Village Bank, we keep you and your money safe. We deploy various educational programs to help you and your loved ones identify threats and protect against bad actors who want to separate you from your money. With a dozen locations in Virginia—all of which are pet friendly—we can serve your needs from various locations throughout the Commonwealth.

Ready to learn more? Contact us today.