Crypto Terms: Letter P

What is Phone Phishing?

Phone Phishing MEANING:
Phone Phishing - ​​the practice of extorting money or sensitive information from individuals through false and harmful phone calls.
1 minute

Let's find out Phone Phishing meaning, definition in crypto, what is Phone Phishing, and all other detailed facts.

Phone phishing (also known as telephone scam or vishing) is ​​the practice of using false and harmful phone calls to extort money or sensitive information from individuals.

Criminals impersonate trustworthy institutions or parties for personal benefit via phone phishing. They usually call their victims and offer, for example, extended warranties on antivirus software, services, or products, ask for charitable donations, or even suggest free vacations.

Also, criminals attempt to force people into giving money by using fear tactics and various threats. Usually, they attack vulnerable individuals, for example, immigrants, and threaten them with fines, arrest, or departure. To force victims into responding spontaneously, phone phishing schemes also include ultimatums or urgent warning messages.

In the United States alone, phone phishing tactics have cost around $30,7 million in losses in 2021. Unfortunately, phone phishing or any other kind of fraudulent attacks are not going anywhere, thus people should be informed about these attacks to know how to identify and avoid them.