SMS Fraud Takes A Toll: The Evolving Threat of SMS Pumping and Toll Fraud
Jul 31, 2023 • Security Boulevard
SMS has become a popular channel to engage customers, verify identities, and offer promotions. Unfortunately, this growing reliance on SMS services has attracted a new breed of automated threats: SMS fraud.
As a $10 billion fraud scheme, SMS fraud is taking its toll on businesses.
Let’s dive into the inner workings of SMS fraud along with key steps to stop these attacks.
The role bots play in SMS pumping and toll fraud
The perpetrators behind SMS fraud are part of highly organized criminal groups. Their goal is to generate as much revenue as possible without getting caught. As a result, pervasive forms of SMS fraud fly under the radar. Businesses don’t realize they are a target until it’s too late…