What is Vishing & How to Protect Yourself?

With the increasing rise of fraud and cybercriminals through the years, banking and financial institutions have been forced to come up with ways to protect their customers and themselves from fraud and identity theft.

These companies recognize that there is a need for security to not only save money but also prevent public embarrassment as well as damage to their name. A new trend has emerged these days, which is called “vishing” – a combination of the words voice and phishing.

In a recent survey conducted by Gartner Inc., it was found that worldwide financial losses due to phishing and vishing have increased by 53% in the first half of the year. This is equivalent to $1.6 billion in losses and $2 million in damages due to identity theft and fraud cases alone.

What is Vishing?

Vishing or Voice phishing attack is a new tactic being used by cybercriminals to obtain vital information from you for identity theft purposes. As opposed to traditional phishing techniques where email would be sent asking for your personal details and account security codes, vishing would use human interaction to get the required information from you.

For example, cybercriminals would pose as bank representatives who are calling you. They may also pretend to be legitimate institutions or individuals asking for assistance in their supposed dealings with you.

This could be as simple as asking you for your account number and PIN so they can confirm the details with you, or sometimes these people might ask you to verify your personal information to protect yourself from suspicious activities online.

What Makes Vishing Different?

Vishing is not just a simple phone call made by criminals. These are sophisticated schemes that they create with the help of technology, specific tools, and highly experienced personnel who know exactly what they are doing. Attackers make use of voice-over IP service that allows them to make phone calls from any location.

This makes it difficult for authorities and law enforcement agencies to track their exact location. In the same way, spoofing tools are used to make it appear as if calls are being made from legitimate sources such as financial institutions or government agencies when in fact they aren’t.

With vishing, you would be in great danger of losing your identity, your money, or even both. This is because cybercriminals are getting more aggressive when it comes to their attacks against innocent people.

How You Can Protect Yourself from Vishing Schemes?

One of the most important things that you can do in defending yourself against the dangers of vishing is to arm yourself with information. The more you know about these schemes, the better equipped you would be to avoid them in real-life situations.

Awareness

The best way to protect yourself against vishing schemes is through awareness. Be aware that these kinds of attacks are conducted by criminals who may use sophisticated technology or phone calls so that they can get information from you. You need to be ready and prepared at all times just in case they hit you with a vishing scheme.

As mentioned earlier, these schemes often rely on human interaction. While you may be required to use your computer in some forms of vishing, most of the time it would involve a phone call from criminals pretending to be someone else.

You need to stay vigilant and aware no matter whether the scheme involves a phone call or a computer-based interaction. Be cautious of these kinds of attacks and take appropriate measures to protect yourself from the dangers that they bring.

You wouldn’t want to be a victim of identity theft or fraud, so you need to watch out for any signs that might indicate your personal details may have been compromised by vishing schemes. This would include being asked for your account number and PIN during a phone call, or your full name and address.

Protect Your Information

Do not give out information about yourself just because somebody calls to ask for it. These kinds of schemes would often rely on human interaction as a way to get you to provide them with the information they need. Without your details, criminals would find it very hard to pull off these kinds of scams.

It is also important to note that not all phone calls coming from numbers that appear legitimate would be real. These criminals often use spoofing tools and technology so that they can easily imitate the identities of different institutions or individuals. If you receive a call, just hang up and do not interact with the caller in any way.

Be cautious of any phone calls you receive from individuals claiming to be from your bank or financial institution, especially when they ask for information that would provide them with access to your account. If you ever receive a phone call like this, make sure you hang up the phone and either contact the company in question directly using a number that can be found online or by heading to the branch during business hours.

Do not trust any phone calls that ask for your account details, even if it seems to be coming from a legitimate source. Remember that these criminals often use spoofing tools and technology to fool people into giving them access to their personal information.

Avoid Using the Phone to Relay Important Information

If possible, avoid using the phone to receive information about your account. It is easier for criminals to get in touch with you if they can use this method, so it would be better if you only deal with them online where there are security measures in place that can protect you from identity theft and fraud.

Double-Check the URL

When accessing your accounts online, make sure the connection is secure before you start entering any private information. The address bar in your browser should indicate the HTTP:// prefix, indicating that the connection is secure and safe for you to use.

If you are not sure about whether or not a website is legitimate, it would be better if you don’t enter your personal details there. You can always go back to the previous page to double-check that you are using a secure connection before entering any information.

Invest in Security Software

Use readily available tools for account protection, such as antivirus software and proper anti-spyware applications. These kinds of programs can detect suspicious activity on your system or connected devices, alerting you when something isn’t right. This would keep you updated about the security of your information, allowing you to safeguard against identity theft and other kinds of fraud.

Run a Background Check on Yourself

You can always run a background check on yourself using specialized websites that store information about individuals. This would allow you to monitor your credit transactions and track down fraudulent ones, keeping you informed about anything going on with your identity.

It would be better if you regularly check your background because these reports allow you to spot anything unusual, especially when other people are trying to obtain your personal information.

Conclusion

These are just some of the ways you can protect yourself against phone scams. Always remember that criminals would often rely on human interaction to achieve their goals, so always exercise caution when dealing with anybody over the phone.

If you think you have been a victim of a phone scam, make sure to contact the authorities as soon as possible.