Your employees receive dozens of text messages daily, but what happens when one of those seemingly innocent texts threatens your entire business? Welcome to the world of smishing—a cyberthreat that’s rapidly becoming every business owner’s nightmare.
What is Smishing?
Smishing is SMS phishing—a cyberattack where criminals send fraudulent text messages pretending to be from trusted companies, banks, or government agencies. The goal is to trick recipients into revealing sensitive information like passwords, credit card numbers, or clicking malicious links that can compromise your business systems. The name combines “SMS” (Short Message Service) and “phishing,” perfectly describing this mobile-focused attack method.
The Growing Threat: By the Numbers
The statistics around smishing are alarming for business owners:
- 147 million smishing texts are sent daily to mobile users, a 20% increase from the previous year
- 45% of mobile threats are now SMS-based smishing attacks, with incidents increasing 22% in Q3 2024
- The average cost of a successful smishing attack exceeded $9.5 million per organization in 2022
- 484,500 malicious smishing attempts were reported in the US in 2023 — more than any other country
Common Types of Smishing Attacks Targeting Businesses
Package Delivery Scams: Criminals pose as shipping companies sending fake tracking notifications. Employees click the link expecting delivery information but instead download malware or enter credentials into a fake login page.
Executive Impersonation: Attackers pose as company executives or CEOs, creating urgency around wire transfers, gift card purchases, or sensitive data sharing.
Financial Institution Alerts: Fake bank security alerts trick employees into verifying account information on fraudulent websites, handing over banking credentials.
IT Department Requests: Criminals impersonate your IT team, asking employees to verify login credentials or install “security updates” that are actually malware.
How to Protect Your Business from Smishing
Implement Mobile Device Management (MDM): Deploy MDM solutions that control what apps and links can be accessed on company devices, significantly reducing smishing risk.
Employee Training: Regular cybersecurity awareness training teaches employees to recognize smishing attempts. At safemode IT, we offer free cybersecurity awareness training to help your team stay sharp.
Multi-Factor Authentication (MFA): Even if credentials are stolen through smishing, MFA prevents unauthorized access by requiring a second verification step.
Establish Verification Protocols: Create clear procedures for verifying requests received via text, especially those involving financial transactions or sensitive data.
Protect your Central Texas business from smishing and other cyber threats. Contact safemode IT today for a free cybersecurity assessment.
