Unsure if that fishy text message you received was a scam?
Cybersecurity experts have revealed the five words popping up in dodgy texts that should spark alarm bells.
Texts were the most reported contact method for scams in Australia last year, according to Scamwatch, with a new report revealing $2.74 billion was lost to scams online, by phone or in person in 2023.
The messages often have a link to take you to a fake website where scammers can steal any personal information you enter and use it to take your money or commit fraud in your name.
So, how do you spot a scam text?
Bank details, payment details and PIN are five words commonly used in scam messages, according to McAfee.
The cybersecurity experts said most real businesses would not request sensitive information over text or email.
However, scammers will use these words in sophisticated phishing messages to trick you into handing over your details.
“To make these messages look real, scammers spoof (copy) the phone number and sender ID of businesses or people you know,” Scamwatch warned.
“Scam messages can even appear in the same message chain as real messages from the organisation, making them even harder to spot.”
McAfee said to familiarise yourself with how brands say they will contact you, and always verify the message’s source.
“If an email hits your mobile inbox, click on the sender’s name to expand their full email address,” it said.
“Typical brand emails will have a “do not reply” somewhere in the address or an official “@branddomain.com” email address.
“Scam email addresses often appear as strings of gibberish.
“If unsure whether a text from a company is real, log into your account directly to see if it reflects the overdue bill or extra store credit that the text message suggests.”
The message is likely a scam if it asks you to take immediate action, make a payment, click on a link or call a number provided, or log into an online account with your details or provide other personal information, according to Scamwatch.
The annual Targeting Scams report revealed Australians’ annual losses to scams have fallen for the first time in seven years as the government steps up its campaign to stop people being fleeced.
Among the results were investment scam losses decreasing by 13 per cent, remote access scam losses increasing by 12 per cent and romance scam losses decreasing by four per cent.
Similarly, phishing scam losses decreased by 13 per cent and payment redirection scam losses decreased by a huge 59 per cent.
However, while scam losses originating from a phone call or text message decreased by 18 per cent, and six per cent respectively, scams originating on social media increased by 17 per cent.
– With AAP