Innovation and technology

Vishing, the new identity theft fraud

2022-08-11

Vishing is a type of scam based on social engineering and impersonation. Here we explain what it is and how it works, and give you advice to protect yourself from this fraudulent practice.

Be careful with unexpected calls

Vishing is a telephone scam. Potential victims receive a call from a person identifying themselves as an employee of their bank. The ultimate goal of the call is to steal confidential information.

How does this scam work?

The call comes from an unknown, hidden number, but sometimes they can make the name of the bank appear on the screen.

During the call, the impostor may reference some of the potential victim’s personal details so that they do not suspect a scam. The impostor may also insist that this is an urgent call to solve a problem the client supposedly has.

Finally, once the client’s trust is gained, the impostor requests confidential data, such as account numbers, passwords, transaction verification codes, addresses, or phone numbers.

Tips to protect yourself

If you receive a suspicious call, stay calm and do not follow the potential cybercriminal’s instructions.

If someone you don’t know asks you for your personal data, end the call and contact the bank through an official channel or your usual manager to verify the authenticity of the suspicious call. Bear in mind that banking institutions already have their clients’ names, identifying information, and account or card numbers.

And remember, Mora Banc will never call you unexpectedly to ask for confidential information.