BEWARE OF MESSAGING APP SCAMS

The WhatsApp messaging app is becoming an increasingly popular way to communicate with clients, who appreciate the immediacy and personal contact it gives them with their adviser.  

Unfortunately, as its popularity increases, it inevitably becomes a target for hackers and scammers looking to make a quick buck. If you’re in the habit of using WhatsApp, it is essential you take every precaution to secure your lines of communication with clients and remain aware of the risks posed by scammers. 

Phone cloning

One of our clients recently shared with us a WhatsApp phone cloning incident to which they fell victim. 

A trusted member of a school parents’ group had broken from the message feed to request financial support from each of the members individually. The user information and number on WhatsApp appeared accurate, but when the messages were scrutinised in more detail, the tone and mannerisms seemed out of character. Our client’s suspicions were confirmed when the individual asked for a financial favour. The message read as follows: 

  “I am trying to transfer money to a friend but not going through I don’t know if you can help me make the transfer I will send it back to you tomorrow morning once my bank is available please.” 

At this point, it became clear the individual’s WhatsApp account had been cloned. Unfortunately, in an effort to block the cloned account, our client accidently called it instead. Sadly, this was all it took to grant the hacker the power to imitate our client’s personal information and messaging profiles. 

Realising their error, our client reported to us they too had become a victim of identity theft.   

Taking reasonable precautions when messaging 

We thought we’d share this precautionary tale to underline the importance of ensuring all your lines of communication are secure. 

There are a number of steps you can take to prevent your messaging accounts being cloned and lock out hackers if you notice suspicious activity. The following will help keep your WhatsApp account secure: 

1. Log out suspicious sessions:

• Open WhatsApp on your phone
• Go to Settings > Linked Devices
• Review the list of linked devices. If you see any unknown devices, log them out immediately by selecting ‘Log Out.’ 

2. Reverify your account:

• If the hacker has taken over your account, reinstall WhatsApp 
• Enter your phone number and WhatsApp will send you a six-digit verification code
• Enter the code to regain control of your account. This will log out the hacker. 

3. Enable two-step verification

• Once you regain access, enable two-step verification for extra security
• Go to Settings > Account > Two-step verification
• Set a PIN, which will be required for verification in the future.

4. Secure your device

• Check for malware: Scan your device for any malicious software that may have compromised your security.
• Change your password.
• Check for updates to ensure you are running the latest version of WhatsApp.

Consider enabling the ‘lock chat’ function. This means chats will only be accessible through face ID verification, ensuring hackers won’t be able to access your WhatsApp groups going forward. 

Remember your responsibilities 

Whilst social media platforms, such as WhatsApp, are convenient, easy to use and often preferred by clients, they should not be the go-to communication tool when sensitive information is being shared. You have a duty to protect your client data and it is safest to revert to email or phone calls when discussing financial matters.

If you want to embrace more modern methods of communication, consider installing WhatsApp Business, a purpose-built and more secure version of the app, that allows you to converse with clients safely. Alternatively, you could opt to add a dual sim to your device to separate your business and personal usage. It might sound like overkill, but who would have thought a school parents’ group would become a target for identity theft?

However you choose to communicate with clients, it is important you are up to date with the safety measures available to protect your business from potential cyber threats. 

If you wish to discuss how your firm uses messaging technology and the compliance issues raised, don’t hesitate to contact us on (0161) 521 8641 or email: info@b-compliant.co.uk