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Billions of fake SMS messages were sent last year — here's why it's a growing problem for all of us

Techradar

Techradar · 1y ago

Billions of fake SMS messages were sent last year — here's why it's a growing problem for all of us

A new study reveals that fraudulent SMS messages totaled between 19.8 and 35.7 billion in 2023, resulting in businesses losing $1.16 billion. This accounts for almost 5% of international SMS traffic, leading to a decline in trust and reliability in SMS services. The report suggests that the industry needs to identify and combat the various types of fraud, including bot-generated traffic and counterfeit messaging. The rise of fraud poses a significant challenge to the A2P SMS industry, jeopardizing its recovery from the impact of the pandemic.

Related News

‘Do not click on links…’ State Bank of India warns customers of rewards points scams

Livemint

Livemint · 9m ago

‘Do not click on links…’ State Bank of India warns customers of rewards points scams

The State Bank of India (SBI) has issued a warning to its customers about an ongoing SMS and WhatsApp scam. The bank urged customers not to click on links or download APK files to redeem fake "reward points". SBI clarified that they never send messages containing links to download APK files or claim reward points. The bank shared an example of the fraudulent messages that customers might receive, advising them to stay safe and secure.

Netflix users beware! New scam aims to steal your credit card details

Livemint

Livemint · 8m ago

Netflix users beware! New scam aims to steal your credit card details

Netflix users are being targeted by a new phishing scam that aims to steal their login credentials and credit card information. The scam involves sending SMS messages claiming there was an issue with the user's payment and providing a link to a fake Netflix website where they are prompted to enter their personal and financial details. Netflix has issued a statement warning users to ignore any requests for personal information via text or email and to avoid clicking on unfamiliar URLs.

iOS 17.1.2 in the works to resolve lingering iPhone WiFi problems

Livemint

Livemint · 1y ago

iOS 17.1.2 in the works to resolve lingering iPhone WiFi problems

Apple is reportedly working on the release of the iOS 17.1.2 update, which aims to address the WiFi speed issues experienced by iPhone users since updating to iOS 17. The problem has persisted despite previous updates, including the 17.1.1 update. The specific rollout date for the update has not been announced, but it is expected to be released next week. Additionally, Apple has announced support for RCS messages in iPhones, offering better interoperability compared to SMS or MMS.

WhatsApp introduces Channels feature for beta testers on Android. All you need to know

Livemint

Livemint · 1y ago

WhatsApp introduces Channels feature for beta testers on Android. All you need to know

WhatsApp is reportedly testing the ability to edit sent messages and working on a new feature called "channels." The channels feature allows users to receive updates on topics of interest and connect with unlimited followers in a private space. The edit sent messages feature is being tested for both individual and group chats, with a 15-minute editing window available. These features are currently being tested by selected beta testers and are expected to be available to all users soon.

Why did Ola Electric shares dip 5% on Wednesday?

Inshorts · 7m ago

Why did Ola Electric shares dip 5% on Wednesday?

Ola Electric shares dropped 5% on Wednesday after SEBI sent an administrative warning over violations with respect to disclosures made to exchanges. Last month, Ola CMD Bhavish Aggarwal revealed plans for a four-fold expansion of the company's store network on social media before informing exchanges. "You've failed to provide equal and timely access to information for all investors," SEBI said.

Malware-riddled Android apps spotted on Google Play Store

Techradar

Techradar · 1y ago

Malware-riddled Android apps spotted on Google Play Store

A recent report from ESET reveals the discovery of 12 malware-infected Android apps that were used in a social engineering attack. The attackers created fake social media accounts, masquerading as attractive individuals to gain the victims' trust. They would then suggest moving the conversation to an Android chat app and offer one of the malicious apps. These apps contained a Remote Access Trojan (RAT) called VajraSpy, developed by the Patchwork APT group. The Trojan could retrieve sensitive data such as contacts, files, call logs, SMS messages, and even access WhatsApp and Signal messages. Google has removed the apps from the Play Store, but they are still available on third-party platforms.

New Gmail phishing attack uses Google's garb: How to avoid it

Economic Times

Economic Times · 3m ago

New Gmail phishing attack uses Google's garb: How to avoid it

A phishing scam on Gmail exploits a loophole in Google's security, tricking users with emails that mimic legitimate support messages. The scam redirects users to a fake login page on sites.google.com, capturing their credentials. Despite being sent from a valid address, the deception is revealed by discrepancies in the page and the sender's domain. Google is addressing the issue by strengthening protections and recommending users activate two-factor authentication for enhanced security.

Stock options are making a comeback. Here's why

Livemint

Livemint · 1y ago

Stock options are making a comeback. Here's why

Stock options, particularly employee stock options (ESOPs), are gaining popularity again for middle and senior management positions in both startups and traditional companies. From January to May 2024, 461 listed companies have allotted 340.5 million ESOPs, compared to 253.9 million in the same period last year. Factors contributing to this trend include the high stock market performance, IPOs, and successful buybacks. Companies are also exploring different kinds of stock options, such as restricted stock units (RSUs) and performance stocks, to attract and retain top talent. However, some believe that not all employees find stock options lucrative.

FCC and crypto firms are being hit in advanced phishing attacks using fake Okta logins

Techradar

Techradar · 1y ago

FCC and crypto firms are being hit in advanced phishing attacks using fake Okta logins

Security researchers have discovered a sophisticated phishing campaign targeting employees of the US Federal Communications Commission (FCC) and leading cryptocurrency exchanges, including Binance and Coinbase. The threat actor behind the campaign aims to obtain login credentials for Okta, a popular authentication platform. The attackers create fake landing pages that are nearly identical to the genuine ones and use phishing kit CryptoChameleon to engage with victims through emails, calls, and SMS messages. The campaign has successfully phished over 100 victims so far, with many still being targeted. The researchers believe the campaign is similar to the 2022 Oktapus campaign.

Google restricts creation of new accounts in Russia: report

Economic Times

Economic Times · 10m ago

Google restricts creation of new accounts in Russia: report

Google has restricted the creation of new accounts for Russian users, according to Russia's digital ministry. The move comes amidst pressure on Google to comply with Russian regulations, including taking down illegal content and unblocking YouTube channels. Google and the ministry have not provided further comments on the matter. Telecom operators have also reported a decrease in SMS messages sent by Google to Russian users. The ministry advises users to back up their data and consider alternative methods of authentication or domestic platforms. This follows Google's deactivation of AdSense accounts in Russia and the blocking of numerous YouTube channels and videos.

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