Consumer frauds related to mobile phones are on the rise - Prevention is the best way to avoid small-sum money settlement damages via mobile phones

 ‘Smishing’, a compound of ‘Phishing’ and ‘SMS’, is a new type of ‘Phishing’ attacking mobile phone users via ‘SMS’. By clicking the web link included in the text message, they could be victims of small-sum money payment or financial scams by handing over vital information. No. of consumer damage related to small-sum payment scams by mobile phone is on the rapid rise in Korea.

 And, methods of the Smishing is getting increasingly diversified and quite clever everyday as seen in cases small-sum money settlement is made simply by clicking the web link included in the text message, compared to methods of enticing a user for ‘low-interest loan’ to directly input authorization code in the past. Against this backdrop, consumers are advised to use caution not to get damaged by the Smishing.

 For the recent three months, 38 cases of Smishing scams were filed to the Korea Consumer Agency (www.kca.go.kr). And, the increasing trend is found to continue even after Smishing damage cases were widely reported in the press in early this year.

 In this regard, the Agency made a recommendation to relevant departments to revise the relevant law to protect consumers from consumer detriment due to Smishing. Also, the Agency asked consumers not to click the web link included in a questionable text message but to delete the message immediately, continuing to advise consumers to lower the limit of small-sum money settlement or even block small payment service via mobile phones.