TEXT OF BUZZWORD
Hook, line and sinker brings us this week’s Marketplace Money Buzzword: “smishing.”
It sounds and smells like the e-mail scam known as “phishing,” except it happens on your cell phone.
Spammers pretending to be banks or finance sites send a phony text message. You take the bait and send back passwords, social security numbers or other personal information.
Cell phone companies are trying to crack down on smishing through lawsuits. Verizon Wireless reportedly filters more 200 million spam text messages a month, but some manage to wriggle away.
So if the next text message you get seems fishy, don’t bite.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.