EXECUTIVE SUMMARY:

Voice phishing, also called vishing, is one of the many growing forms of phishing that has information security professionals scrambling for solutions. Vishing aims to scam potential victims into revealing personal or financial information. This form of attack has been on the rise, with almost 30% of incoming mobile calls in 2018 coming from scammers.

Using emotion appeals, scammers create situations that convince callers to divulge information that they ordinarily wouldn’t share over the phone. A scammer, for example, could pose as an authority figure, making the caller feel like it is his/her obligation to hand over the requested information. This maneuver works on individuals who are at home and in business settings. Employees can be approached in order to gain access to a company’s confidential account information. Sometimes, employees unwittingly divulge the info.

How much damage do these calls cause?

The 2018 Internet Crime Report says various forms of phishing, including vishing, affected 26,379 victims and accounted for $48 million dollars in 2018. A Consumer Reports survey states that U.S. adults are fighting back, and that they’ve stopped answering calls from unknown numbers. Many have registered with the National Do Not Call Registry, but with less-than-stellar results. Companies can refute these calls by bolstering available IT department solutions or filing a complaint with the FTC. Until additional technological advances arrive, ensure that you and your employees steer clear of scammers.

To learn more about voice phishing and how to avoid it check out this article.