FINRA Alerts Investors about Fraudulent “Smishing” Scams

On March 6, 2025, FINRA issued an “investor insight,” discussing the emergence of “smishing” scams, a type of cybersecurity fraud that is perpetrated through fraudulent text messages.  The term “smishing” is from the combination of “SMS” (short message service, i.e., text messaging) and “phishing.”  Smishing involves the sending of unsolicited messages that ask the recipient of the message to click on a link or provide sensitive information.  The harm caused by smishing can include data theft or the downloading of malicious software onto the recipient’s device.  The FINRA alert contains helpful information concerning steps that can be taken to avoid the risk of falling victim to a smishing scheme and steps to take if a person becomes subject to such a scheme.