According to the latest Australian Competition and Consumer Commission (ACCC) Scamwatch report, Australians lost around $14 million to text message or SMS scams in 2024. SMS remains the second most common contact method for scammers, second only to email. The numbers continue to rise as fraudsters exploit the speed and convenience of messaging to deceive individuals and businesses alike.
What is an SMS scam?
An SMS scam, also known as smishing, is a cybercrime tactic that utilises fraudulent text messages to deceive recipients into disclosing sensitive information, such as bank details, credit card numbers, or login credentials. Scammers often impersonate trusted institutions, such as banks, service providers, or government agencies, to appear legitimate.
These scams are convincing because they mimic real communications. Attackers time their messages strategically: you’re busy, distracted, or waiting for a delivery or verification code. They also capitalise on trending topics, new technologies, and major events to make their messages sound timely and credible.
How to identify an SMS scam
Most scam texts share a few warning signs:
- Mass messaging: Scammers send messages to large batches of recipients, hoping someone will take the bait.
- Suspicious links: Many contain shortened or unfamiliar URLs leading to fake websites.
- Urgent or alarming tone: “Your account will be locked” or “You’ve won a prize” are common hooks.
- Requests for personal info: Legitimate organisations rarely ask for confidential data via SMS.
- Impersonation of brands: Smishers often use alphanumeric sender IDs to mimic the names of real companies.
How to avoid SMS scams
Protecting your business from SMS scams starts with awareness and good messaging hygiene. Here are a few practical ways to protect yourself and your organisation:
- Verify the sender. Contact the company directly through official channels before responding to suspicious messages.
- Don’t click unknown links. Even if the message looks legitimate, visit the official website instead of using the provided URLs.
- Enable multi-factor authentication. This adds another layer of protection, even if credentials are compromised.
- Educate employees. Include SMS scam awareness in your company’s cybersecurity training.
- Use reputable messaging providers. Work with SMS partners that comply with carrier-approved anti-spam and identity verification policies.
What to do if you’ve been scammed
If you suspect you’ve been targeted or have already shared information, act quickly:
- Contact your bank immediately. Report any suspicious activity and request that the affected accounts be frozen.
- Seek help from IDCARE. If your personal data has been exposed, call 1800 595 160 or visit IDCARE.
- Report the scam. File reports with ReportCyber and Scamwatch.
Monopond helps businesses reduce the risk of SMS scams by ensuring that only verified, authorised senders can reach their customers.
At Monopond, we believe trusted communication starts with compliance and transparency. We work closely with carriers and regulators to uphold industry standards against spam and fraudulent traffic. By verifying sender IDs, monitoring message quality, and enforcing strict delivery policies, Monopond helps businesses reduce the risk of SMS scams by ensuring that only verified, authorised senders can reach their customers.
See how secure, compliant messaging can help your business connect with confidence. Start for free now!
