Vishing Scams: Our Top Tips to Avoid Them in 2023

As technology advances, so do the tactics of scammers. One scam that is currently affecting people across the world is ‘vishing’, short for voice phishing. Vishing scams involve fraudsters using phone calls to deceive victims into revealing personal info or banking details. 

What’s new:

We’ve talked about Vishing scams before in this blog, but things have changed in 2023 - now scammers are using AI to clone voices to sound more believable, or even use text to speech to make it seem like you are chatting to a real person. This is an attempt at making their operation more efficient at deceiving people.

The goal of vishing scams is to try and manipulate victims over the phone. Scammers will pose as trusted individuals or representatives from legitimate organizations, such as banks, government agencies, or tech support services.

Note: ‘Smishing’ scams are similar but are carried out via SMS messages.

How Vishing Scams Work:

Vishing scams typically involve several steps designed to trick victims:

1. Scammers initiate contact through unsolicited phone calls, often using caller ID spoofing to make it appear as if the call is coming from a reputable source. They may use personalization techniques, addressing victims by name, to sound credible.
2. Scammers create a sense of urgency or fear to manipulate victims. They may claim there is an issue with the victim's bank account, a problem with their taxes, or a security threat to their computer. By sounding urgent, they aim to bypass victims' critical thinking and provoke immediate action.
3. Scammers trick victims into revealing sensitive information, such as credit card numbers, Social Security numbers (US), or online account credentials. They may pose as bank representatives or customer service agents, claiming they need the info to resolve a problem or verify the victim's identity.
4. In some cases, scammers convince victims to transfer funds or make payments. They may claim it is necessary to avoid negative consequences, such as legal actions or service disruptions. The methods used for payment vary, but scammers often request wire transfers or ask victims to purchase prepaid debit cards.

Protecting Yourself from Vishing Scams:

Protecting yourself from vishing scams requires caution and vigilance. Consider the following tips to stay safe:

1. Be cautious with unsolicited calls, especially if they are urgently asking for personal information or payments. Remember that legitimate organizations typically do not ask for sensitive information over the phone.
2. If you receive a suspicious call, hang up and independently verify the caller's identity. Use official contact information from trusted sources, such as an official website.
3. Avoid sharing sensitive information, such as credit card numbers, Social Security numbers (US), or account details like passwords, unless you initiated the call.
4. Stay informed about the latest vishing tactics and scams. Regularly update yourself on common fraud schemes and share this knowledge with family and friends to help protect them as well.

How Can Truecaller help? Well, there’s our famous Caller ID and Spam Blocking. But there’s also much more. Visit the website and take a look at all our features, and also make sure to check this blog regularly for all the new updates and tips.

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