Phishers Turn to SMiShing
Phishers have begun using SMS messages as an attack vector. Users have reported receiving SMS messages purporting to confirm that they have signed up for a dating service and notifying them they will be charged US$2 a day until they cancel the order at a certain web site. That site downloads a Trojan horse program onto their phones, allowing it to be controlled by the attackers. The practice has been dubbed SMiShing.
This development indicates how profitable Phishing has become. Firstly there is an inherent cost barrier for sending Phishing messages via SMS as there is a charge per text message. Secondly even if compromised accounts or stolen credit cards are being used, the criminals are exposing themselves to more risk. So the returns from victims must be substantial enough to justify the initial outlay. In a similar vein proposals, to charge for emails in an attempt to reduce SPAM and Phishing may not prove to be enough of a barrier to criminals.
Source: McAfee Vert Labs Blog