Smishing is a fast growing version of one of the most established and lucrative scams on the internet. Smishing, like other forms of phishing, aims to trick you into revealing sensitive data and information; however, instead of email, cybercriminals use text messaging or short message services (SMS) to interact with you. Smish attempts are frequently delivered as regular SMS to mobile phone subscribers, but they can also be sent via popular messaging apps.
Smishing is a type of social engineering in which fraudsters exploit emotions such as fear, sympathy, curiosity, or greed to induce others to reveal personal or business information. They manage this by sending fake messages to your phone or other mobile device that appear to be from a trustworthy source, such as a delivery service, utility supplier, bank, or government agency.
The information they seek could include usernames, passwords, bank account numbers, credit card numbers, vendor names, and other confidential data. The data is subsequently sold on the dark web by cybercriminals, who can also employ it to steal identities, empty bank accounts, or reroute funds to themselves.