Bank of Ireland is reporting an increase in bank impersonation scams in recent weeks and is reminding the customers and the general public to be particularly vigilant.
Reports of cases of fraudulent texts, referencing suspicious or declined transactions prompting customers to call a fraudulent phoneline have increased in recent weeks. There has been a significant increase in cases recorded throughout May, with the pattern continuing this week.
Bank of Ireland is urging customers to take simple steps to protect themselves.
How bank impersonation scams work:
- Customers receive a text message that appears to come from a trusted source, such as Bank of Ireland.
- The message typically references a suspicious or declined transaction and pressures the customer to respond or act quickly.
- The customer is often asked to call a phone number included in the message.
- When they call, they are connected to a fraudster posing as a member of the bank’s fraud team.
- The caller sounds calm, professional and helpful, but quickly creates urgency.
- The fraudster convinces the customer to make a payment or give away banking details.
- Alternatively, customers are told their money is at risk and must be moved immediately to a “safe account”. In reality, the “safe account” is controlled by the fraudster and the money is lost.
- In some cases, scam texts can even appear under trusted contact names stored in a customer’s phone, making them even harder to spot.
Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Many people believe this is something that would never happen to them but these scams are carefully designed to feel real, and anyone can be targeted. Fraudsters use familiar brands and everyday transactions, and create a sense of urgency to respond. They know how to create convincing, conversations that feel legitimate, and how to apply just enough pressure and pace to stop people hesitating in the moment .
“The most effective defence is a ‘zero trust’ approach. Pause and question any unexpected contact, even if it appears to come from your bank. Never rely on phone numbers or links provided in messages. Call your bank directly using a trusted number from its official website or the back of your card.”
How to Protect Yourself
- Call your bank directly using a trusted number from its official website or the back of your card.
- TextChecker service – if you get a text that claims to be from Bank of Ireland but you are not sure if it’s genuine, here’s how to verify it:
- Copy the text you wish to verify.
- Paste into a new message.
- Add the word CHECK before the text. (In the same text)
- Send to 50365.
- If you receive a suspicious text, email a screenshot to 365Security@boi.com and then delete the message.
- Bank of Ireland customers who believe they may have shared banking information should call the Bank of Ireland 24/7 Freephone line immediately
| Case study – How bank impersonation fraud works: | In a recent case, Tom, a man in his 50s, believed he was taking the right steps to protect his money but instead he was being targeted by a scam.
It began with a text message that appeared to come from Bank of Ireland. The text asked if he recognised a transaction for €130 to a well-known company, instructing him to reply ‘No’ if he did not. Concerned, Tom replied immediately. Within minutes he received a follow up message urging him to call ‘Bank of Ireland’ using the number provided.
Tom dialled the number and was convinced he had reached the bank’s fraud team. The caller sounded professional and reassuring, but quickly created a sense of urgency, warning Tom that his money was at risk. He was told the safest course of action was to move his money to another account while the issue was being resolved.
Anxious to protect his savings, Tom followed the instructions and transferred €10,000 to an account that, unknown to him, was controlled by fraudsters.
While keeping him on the call, the fraudster extracted highly sensitive information, including Tom’s online banking details, security verification credentials and even his passport information.
Unfortunately, Tom’s story is not an isolated case. Criminals deliberately imitate trusted organisations and create a sense of fear, pressuring people into making quick decisions. Tom’s experience highlights how convincing these scams can be. |