In today's digital age, cybercriminals are becoming increasingly sophisticated in their attempts to deceive unsuspecting victims. Voice calls and messaging apps are now prime targets for online scams, with fraudsters using techniques like "vishing" (voice phishing) and "smishing" (SMS phishing) to defraud individuals.
These scams have become a lucrative industry, with call centres generating billions of pounds worldwide. They require minimal technical skills, allowing individuals to target numerous victims simultaneously. A range of tactics are employed, including:
Pig butchering: A scam where the fraudster cultivates a relationship with the victim, eventually extracting large sums of money.
Cryptocurrency fraud: Deceptive schemes involving cryptocurrency investments.
Romance scams: Con artists creating false online personas to deceive victims into romantic relationships for financial gain.
Tech support hoaxes: Fraudsters posing as tech support professionals to gain access to the victim's computer or personal data.
Each scam is meticulously crafted with a convincing narrative and enticing bait to lure victims into their web.
The Rise of AI-Powered Scams
The threat of phone scams has become even more pronounced with the emergence of AI-generated voice technology. Imagine receiving a call from someone claiming to be your bank, warning of a compromised account. The urgency in their voice might prompt you to divulge sensitive information, only to realise later it was a fabricated call.
In 2019, cybercriminals used AI to impersonate a company executive's voice, stealing nearly £200,000 from a CEO. In another incident, they stole £20 million from a company by mimicking a finance employee's voice in a video call. AI-driven voice forgery and real-time translation have made vishing and smishing easier than ever, lowering the barriers for new malicious actors.
The Value of Phone Numbers
A 2022 Consumer Reports survey revealed that 75% of respondents were concerned about their data being collected online, including their phone numbers. These numbers are crucial for identification and targeted advertising.
As traditional phone directories have become obsolete, online tracking has increased, leading to a thriving data trade industry. Personal information, including phone numbers, is collected and sold without the need for hacking.
Data brokers gather this information from public records, commercial sources, and online tracking, then sell it to various parties, including malicious actors. Cybercriminals can obtain phone numbers from public social media profiles, stolen accounts, auto-dialers, and even physical mail, using them to launch targeted scams.
Protecting Your Phone Number
To safeguard your phone number from cybercriminals, cybersecurity experts recommend the following:
Be vigilant against phishing attacks: Avoid answering unexpected calls or messages from unknown numbers. Never click on random links in emails or SMS. If contacted by a bank or company, insist on calling them back using their official number.
Enable two-factor authentication (2FA) for your accounts: Preferably use security keys, authentication apps, or biometric methods rather than SMS, as SMS can be easily intercepted.
Utilise government services: Take advantage of services like the "Do Not Call" registry to reduce unwanted marketing calls.
Be mindful of your online activity: Consider where you share your phone number online and explore alternative methods for account recovery, such as using an additional email address or an authentication app.
By taking these precautions, you can significantly reduce your risk of falling victim to phone scams and protect your personal information from malicious actors.