Billions of iPhone and Android users warned over ‘dangerous’ bank-draining text

SMARTPHONE owners have been warned about dangerous text messages that can hack your bank account.

There are thousands of scams running rampant out there, but some of the most dangerous ones show up right on your phone.

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Perpetrated by bad actors, these attacks, dubbed phishing, often appear in the form of SMS text messages, emails, and social media messages.

In these messages, a threat actor will purport themselves to be a legit company or entity – such as a bank or phone carrier.

They do this in the hopes of obtaining your personal information and then using it to hack into your bank accounts.

Sometimes, they add malicious links in the message, hoping you will click on them and unknowingly download malware.

Phishing attacks are incredibly common – in fact, the Internet Crime Complaint Center (IC3) received 300,497 reports from victims of phishing in 2022.

What’s more, all those attacks cost victims in the US at least a combined $2.7billion in 2022.

“Phishing scams are so routine and widespread that preventing them has become not just an individual concern, but also an integral part of most modern companies’ best practices,” Chase Bank explained on its website.

To help combat these attacks, cybersecurity experts have shared some important red flags to look out for.

RED FLAGS

The first warning sign to watch out for is a sense of urgency in the message.

Most scammers will employ a sense of urgency to get you to send over money or information.

Bad actors know that victims who feel pressure tend to act less rationally when making decisions.

However, legitimate entities will never ask you to send money on the spot. Instead, they will give you information and a specific time frame to act.

The second thing to watch out for is if you’re being asked to send over money at all.

This is especially important if you’re being asked to pay for something in an uncommon way like wire transfers, gift cards, or cryptocurrency,

“Legitimate organizations, such as phone providers, utility providers, or other entities will not be asking for iTunes gift cards or similar types of payment,” Erich Kron, security awareness advocate at KnowBe4, told the U.S. Sun.

Another surefire sign of a scam is if the threat actor is asking you to download something – like an app or software.

Doing this could cost you, as it’s likely malware that can take over your device and access your information.

HOW TO PROTECT YOURSELF

There are a number of steps you can take to mitigate your risk of being a phishing victim.

The first thing to lower your risk is to recognize the scam. Look out for clues and never click on suspicious links.

Second, you will want to make sure your devices are protected and their software is updated.

The last thing to do is protect your information with strong passcodes and encryption.