The most effective protection measure against SMS fraud may be security awareness education for your smartphone users. It's important that users know not to trust every SMS message -- particularly those from institutions that hold their personal information, such as banks. Users should verify and call the official phone number of an organization or independently verify the website in question if they do receive an urgent SMS message meant to protect them from fraud.
There are also new security tools available, such as SmrtGuard from Smartphone Solutions Inc. or AhnLab Inc.'s Mobile Security products, that can be installed on smartphones to protect against malicious SMS messages, and traditional antimalware companies are expanding their smartphone protection by including antispam for text messages or adding encryption technology to their core antimalware products.
This was first published in October 2010