Received a weird text from your boss? You’re not alone, text scams are rising in popularity

Received a weird text from your boss? You’re not alone, text scams are rising in popularity

You’re sitting at your desk when you receive a text on your phone, it’s allegedly from the CEO of your company. He may say this is his new number (or his personal number) and he’s reaching out to you by name, adding to the legitimacy of the text. If you respond, he’ll say he’s in an important meeting and he needs you to use your company card to buy gift cards as a gift for the attendants of the meeting.

If you do so, and he’ll be keeping in constant communication with you in spite of being in an “Important meeting”, he’ll say he doesn’t need the physical cards just the codes which you can find if you scratch off the back. He may thank you for being a team playing after providing the codes or stop responding altogether because unbeknownst to you, the scam has been successfully completed.

Why gift cards? Gift cards are untraceable and usually not refundable when purchased. The scammer will quickly move the funds off the gift card leaving you with the empty plastic remnants and no recourse. Other variations on this scam may request Cryptocurrency instead (such as a message sent pretending to be one of your friends or a family member) but scammers know this would throw up too many red flags in a workplace setting.

The request even that unusual, if you’re an executive assistant for instance you probably regularly make purchases at the request of your employer. Scammers may target the whole company if they’re unsure who the influencers to the decision maker are or they may target specific individuals.

How are they getting the information to make their requests see more legitimate? They find it in the following ways.

  1. Your Company Website: Often times your website will have information about your key players on it, including contact information. While we don’t recommend excluding this information to prevent being a target (as it’s valuable to those you want to legitimately do business with) it’s a good idea to remember that it’s out there when you’re getting strange communications via text or email that may call you out by name.
  2. Social Media: This may be your company social media pages or even your personal accounts. We recommend making your personal accounts private and not oversharing on social media in general.
  3. Search Engines: Nothing beats a good old fashioned Google search, and the information that’s available about you online may shock you. Phone numbers, relatives names, addresses etc. can all be found online. While there’s no real way to prevent this, you can somewhat keep track of what’s been made available by creating Google Alerts for your name, email address, etc.

While text scams may never rise to the prevalence of BEC (Business Email Compromise) attacks – which are being sent out at the rate of 10 per 1000 inboxes per day – it still showcases the way scammers will strategically target you and your business.

If you are looking to beef up your cyber security protocols in 2024, including providing your employees training to prevent attacks like this one, Valley Techlogic can help.

Security training is included as part of your monthly plan with us, as well as 24/7 monitoring, data recovery and remediation, backup solutions and more. Get started with us today.

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This article was powered by Valley Techlogic, an IT service provider in Atwater, CA. You can find more information at https://www.valleytechlogic.com/ or on Facebook at https://www.facebook.com/valleytechlogic/ . Follow us on Twitter at https://twitter.com/valleytechlogic.