How to Prevent Fake SMS Scam

30 May 2024
3 min read
How to Prevent Fake SMS Scam
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In the digital world, scammers are constantly devising new methods to trick people into giving them money. One of their latest tricks involves sending fake SMS messages to fool individuals into transferring money. This is known as an SMS scam.

Read on to learn more about how this scam works and other crucial details.

How Does Fake SMS Fraud Happen? 

The SMS scam works in the following way:

  • First Contact

A stranger calls, pretending to be familiar with one of your family members, and asks for your UPI details to send money.

  • False Text Message

Later, you will receive a text message that looks like it confirms a deposit into your bank account.

  • Demand for Refund

The scammer then calls back again, alleging they mistakenly sent too much money and urges you to return the excess amount.

A Real-Life Example of Fake SMS Scam

In a recent incident, a woman entrepreneur in Bengaluru shared her experience of an SMS scam.

While in her office, she received a call from someone claiming to know her father. He stated that he needed to send money to her father but was instructed to send it to her instead due to some problem. The caller mentioned sending money via UPI. While on the call, she received a message resembling a bank credit alert, showing the first ₹10,000 and the second ₹30,000 credited to her account.

Feeling an urgent tone in the conversation, the caller insisted he mistakenly sent ₹30,000 instead of ₹3,000 and urgently needed ₹27,000 back, citing a doctor's clinic visit as the reason. However, her suspicion grew when she noticed that the message came from a 10-digit phone number and not from her bank.

Doubting the authenticity of the situation, she refrained from sending the money. When she attempted to call back, her number was already blocked.

How to Detect and Prevent Fake SMS Fraud?

Here are some of the precautions you could take to beware of SMS scams and remain safe:

  • Do Not Trust Strangers

Avoid engaging in financial transactions with strangers, even if they promise to send you money.

  • Verify the Sender

Bank messages typically display the bank's initials in the sender's number. Always double-check the sender's details.

  • Remain Aware of Urgency

Scammers often create a sense of urgency by falsely claiming someone is in trouble. They might send texts urging you to share personal information or click on links without giving clear details. Take this as a warning sign.

  • Confirm Stories

If someone claims that one of your family members has requested to send the money, directly verify it with that family member to avoid such scams.

The Bottom Line

The incident mentioned above serves as a cautionary tale against falling victim to SMS scams, highlighting the importance of staying vigilant and verifying information before taking any action.

By following the simple precautions mentioned above, you can protect yourself from falling prey to such fraudulent schemes.

You may also be interested to know

1.

Cashback Scams In India: How To Stay Safe?

2.

How to Stay Safe from Money Doubling Scams

3.

Best Ways to Spot Personal Loan Scams

4.

What is SMS Spoofing and How to Prevent it

5.

How to Avoid Personal Loan Scams and Frauds
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