Category: Scams

Consumer Alert: Budget 2025 energy credit announcement sparks new fraud attempts – Bank of Ireland

Bank of Ireland is warning customers to be very vigilant to a wave of new fraud attempts following the announcement of a range of new energy credits this week.

Fraudsters often use topical events that are the subject of a lot of media coverage and commentary – in this case, energy credits announced in the recent Budget – to defraud consumers.

Bank of Ireland is seeing cases where customers receive an SMS pretending to be from the Irish Government (Gov.ie) saying they are eligible for a discounted bill under the new energy credit. However, this is just the first step in a scam designed to get the consumer to hand over their personal banking details.

How it works:

 

  • The consumer receives a text – pretending to be from an official Government source – telling them they are eligible for an energy credit.
  • The consumer replies to this and provides their personal contact details.

  • The fraudster then calls the consumer and pretends to be from their bank. The fraudster informs the consumer that they responded to a fake text and that now their debit/credit card, PIN, and phone sim card are compromised. The fraudster says someone from the bank, or a courier is on their way to collect the consumers card, PIN, and phone sim card.
  • In some cases, the consumer is kept on the phone to the fraudster until the person from the ‘bank’ or courier company arrives at their house.
  • Once they have taken these, fraudsters can then use the card for high value items, using chip & PIN.
  • Unfortunately, because the consumer believes they have been speaking with their bank, it can take some time before they realise that they are the victim of a theft and report this to their actual bank.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Fraudsters are like chameleons. They design their scams to blend in with what’s in the news. But like all their criminal activity, this is just another attempt to steal your money.  

“There are new fake texts in circulation from “GOV IE” telling consumers they are eligible for a discounted electricity bill. These are smishing texts, and when the customer responds, they get a call from the fraudster posing as a bank employee informing them that their debit/credit card, PIN and phone sim card have been compromised. The fact that this call is followed by a fraudster calling to the victim’s house to collect the “compromised” card and phone sim card is of particular concern. 

“Be extra vigilant.  Fraudsters want your personal information, even if it’s simply your phone number. Do not give it to them.”

Bank of Ireland’s advice to customers in response to the current activity:

  • Do not click on links or respond to any SMS text messages which are designed to appear as if sent by the bank or other businesses and service providers.
  • If you receive a suspicious call, hang up and don’t call back any number the caller may have given you.

Remember:

  • Bank of Ireland will never send you a text with a link to a website that asks you for your online banking login details or any One-Time Passcodes that we’ve sent to you.
  • Bank of Ireland will never, ever, call you and ask for your security credentials such as your full 365 PIN, card details, one-time codes, or codes from your Business On Line Approve App.
  • Where customers receive a text appearing to be from Bank of Ireland, the Check Your Text service (Security Zone – Bank of Ireland Group Website) is now available.
    • 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.
    • Alternatively send it to 365security@boi.com

If you think you may have given away any of your banking details, please call our 24/7 Freephone line 1800 946 764 immediately.

Revolut scam to be aware of if selling items online

OK so many of us are now using Revolut to pay bills and sort out financials on a night out or just paying IOUs and works really well and as we know now they are an official bank in Ireland but only virtual.

I keep a nominal amount on my card due to unforeseen incidents such as being overcharged or just landed with charges which often happens with hotels so they can’t touch it, where if you use your standard debit card now they can take money and if using a VISA credit card you can fight for your money back and get a chargeback via your bank.

Like many people will use their card to shop online any on that front we can now use our Revolut card to do the same however clever scammers now also use this as a way to scam you which they tried on me recently.

This scam works the same way as you would get from a Paypal scammer asking you for details, the key thing they will ask for is your email address so as to send you the email to give you one back looking legitimate from the company and only recently this happened to me on Paypal too.

Of late Revolut is taking a lot of slack over scams due to the nature of contacting them and how it is dealt with here in Ireland and presumably the same elsewhere in the world.

Again having contacted Revolut about this I yet have to hear anything back about it but beware if you are buying online this scam is identical to one that has been on Paypal before and as always when buying or selling online be careful as this kind of things is rampant on the likes of Facebook who also have yet to respond to the matter which is nothing new.

 

Rise in Purchase Scams Duping Consumers – Bank of Ireland

Bank of Ireland is warning consumers about a new wave of purchase scams which is luring consumers to make payments for goods and services through an advertisement online, which then transpires to be fake.

In the last year, there has been a 32% increase in purchase scams reported to Bank of Ireland. From relatively low value items such as clothes and trainers, through to holiday home deposits and even cars, consumers are often lured by the false promise of a slashed price or bargain and asked to pay directly, sending money from their bank account to another via bank transfer, which provides little protection.  Once the payment is transferred, the seller usually cuts all contact, and the product or service never arrives.

Providing practical advice for consumers, Nicola Sadlier, Head of Fraud at Bank of Ireland, said: “Fraudulent advertisements online and on social media have been the subject of regular warnings for some time. This alarming trend is not going away, even with increased awareness among the general public, and repeated calls for websites and search engines to remove the adverts.  These fake ads should be caught before they are published online, but many are not.

It’s unacceptable to see fraudsters operating so openly through online advertisements. No company should be generating advertising revenue from criminals – search engines, websites and social media platforms really need to step up and crack down. Our advice to consumers is don’t click on these adverts, ignore them completely, and if something sounds too good to be true, it’s probably fraud.”

Bank of Ireland’s advice in response to the current wave of purchase scams:

  • Research and read reviews to check the site and the seller are genuine.
  • Be alert to poor grammar and spelling, or vague product descriptions.
  • Go directly to the online shopping site by typing the web address into your web browser.
  • Links in unsolicited emails or on social media are not always safe and should be avoided.
  • Use secure payment methods, try and pay by debit or credit card, or the secure payment method recommended by reputable online retailers and auction sites, as this could give you more protection.
  • Never agree to buying vouchers or other items for someone as a way to pay for something else.
  • Always view large purchases in person prior to making full payment for them.
  • If people suspect they have been a victim of fraud they should contact their bank immediately so that the bank can take action to stop a fraud in progress and try to recover funds. Bank of Ireland customers can call our Fraud Team 24/7, on the Freephone line 1800 946 764. 

Bank of Ireland is hosting a series of fraud awareness events in branches around the country, where its fraud and security teams will provide advice to members of the public and business owners on the latest fraud trends in circulation and tips on how to safeguard their finances.

For full listing of fraud awareness events and advice and information on fraud visit the Security Zone the Bank of Ireland website.

Revolut warns more than 2 million customers in Ireland following sharp rise in job scams

Revolut, the global financial app with more than 40 million customers worldwide, has directly issued a fraud warning to more than 2 million of its customers in Ireland, cautioning those looking to boost their income that job-related scams are on the rise — and advising them on how to stay ahead of these sophisticated job scams.

Amid the rising cost of living, sophisticated scammers are taking advantage, warns Revolut. According to its inaugural Financial Crime and Consumer Security Insight Report, the global financial app found that while just 1% of fraud victims in the country were subject to job scams in 2023, 15% of the total sum lost to fraud in Ireland — second only to investment scams (53%) — was caused by people falling for false job opportunities in a bid to boost their income.

This form of authorised fraud sees scammers post fake job openings either online or by reaching out directly to victims via messaging apps, posing as employers or recruiters. As part of the phoney application process, scammers either request money upfront or require personal financial information to defraud the victim. Common tactics include asking people to pay for training, administration costs, or setup fees, or to purchase required equipment, such as a laptop or a mobile phone. This poses a notable risk for those entering the job market for the first time after school or college, people struggling with the cost of living, or those looking to get back to work.

Revolut’s report also found that job scams had increased globally over the course of 2023 — the most of any type of scam. In Q1 2023, job scams represented only 1% of Revolut’s global fraud cases, as well as just 1% of the overall value of all money lost to fraud. However, by Q4 2023, these figures rose to 12% of all cases and 21% of the overall value lost to scams, increasing 1,200% and 2,100% respectively.

Based on extensive internal research and data analysis for 2023, the report aims to shed light on the growing scam and fraud industry across the globe, and provide tangible watch-outs for everyday people to help them protect themselves. Among the findings, Revolut revealed that in 2023, the company is estimated to have prevented over €550 million in fraud losses, up 130% from 2022. This was largely thanks to its proprietary fraud detection system, which deploys cutting-edge machine learning and artificial intelligence methodologies.

Woody Malouf, Head of Financial Crime at Revolut, commented: “Having harnessed data from more than 500 million transactions per month, our dedicated fraud intelligence team has observed the evolution of job opportunity scams that prey on unsuspecting job hunters. Given the cost of living and high inflation, the number of reported job scams has dramatically increased. Sadly, criminals prey on those seeking a legitimate way to better their income, particularly young and often inexperienced job seekers. Our customers’ security is of paramount importance to us so please pay heed to this warning; we work tirelessly to identify patterns and spot unusual activity, helping our customers to stay ahead of emerging scam trends.”

Revolut’s advice to stay one step ahead of scammers:

  • Observe our warnings. Our proprietary AI systems never sleep. They scan more than 10,000 transactions per minute and flag suspicious transactions in just a few seconds.

  • Stay alert. Always question things that seem too good to be true.

  • Trust your instincts. If something feels off, take a step back and investigate by doing your own research.

  • Be extra cautious. Use secure channels. Stick to trusted websites and platforms for transactions.

  • Report suspicious activity. If something seems suspicious, let Revolut know — we’re here to help 24/7, directly from the app.

To read the full Financial Crime and Consumer Security Report 2023 and learn more about Revolut’s fraud prevention efforts, visit here.

For more information, visit www.revolut.com/en-IE.

Revolut payment scam – Transport for Ireland – Facebook. relatonpaydotcom and relationshipitdotcom to watch out for in your revolut account

It has been brought to my attention over the last few days people are being pilfered money from their accounts on Revolut from a company called relatonpay dot com who when looking appears to be a content marketing services company, on further investigation from invoices from Revolut they are in fact a company for relationships with children and partners but have two websites.. Again this as seen below is down to people not checking details of pop up facebook accounts, also I am working on another case regarding Facebook marketplace using Revolut only to pay for goods being purchased.. This particular scam is a page that is still running on Facebook which is not surprising either as they just collect money.

 

Having seen messages myself people have noticed small payments incrementing in value over a period of days after receiving passwords and so on to enter the said site it is a dating site of sorts upon checking with the login details there is no account and no option to change, edit or anything but you can delete your account and an email will come back from zendesk stating they will look into the details and report back.

Below is all the screengrabs taken from the incidents and with permission have been given to post the details, pass on the details and we also have been in touch with Revolut on this and awaiting a response..

Again after some digging this came from a TFI transport for Ireland page on Facebook and here it seems where this has originated from and as expected Facebook has done nothing about it and now people are seeing money being taken from their Revolut accounts, I hate to stress myself here but time and time again I tell people to watch out be aware and be vigilant no matter what social media you use and this was a simple one to spot immediately but it has been reported and reported and nothing done about it which again says how Facebook does business.

 

 

Gen Z is three times more likely to fall victim to online scams than silver surfers

Despite being assumed as the most digitally native generation, Gen Z is  being scammed three times more than silver surfers, debunking the assumption that older generations are less tech-savvy.

Gen Z is regarded as the first true digital natives and are reported to spend more time online than any other generation. However, a recent study by cybersecurity provider F-Secure found that 16-24 year olds are three times more likely to fall victim to online scams (37%), compared to those aged 55 and above (12%). Challenging the assumption that they are the most tech-savvy demographic.

Despite their vulnerability, only 11% of Gen Z respondents expressed concerns about online shopping safety, a stark contrast to 31% of the over 55s. The research indicates a potential lack of awareness among Gen Z regarding the risks associated with online transactions.

In an attempt to protect themselves, and uphold the notion they are scam proof, 71% of Gen Z respondents admit they either completely, or sometimes, avoid independent online retailers, perceiving them as higher risk than well-known brands, where they shop for a greater sense of safety and security. However, the study reveals a misconception, as scams occur across all shopping platforms, with occurrences at 27% for small independents, 23% for large online platforms, and 21% for large retailers.

The most common items Gen Z fell victim to in online scams last year are:

  1. Fashion items
  2. Tech
  3. Beauty products
  4. Furniture and home decor
  5. Travel
  6. Sports gear
  7. Gifts
  8. Food
  9. Vehicles
  10. Concert tickets

Tom Gaffney, cybersecurity expert at F-Secure, says: “Gen Z may be the most tech-savvy of all when it comes to using online tools but it appears that it may be a false assumption to assume they have the same awareness of threats. While they can make a TikTok video and jump on the latest viral trend, our research shows they are less able to identify when they are being exploited by cyber criminals.

“There is a clear lack of awareness among this demographic when it comes to online safety, which could be driven by over-sharing and misplaced trust online.”

F-Secure, a leading cybersecurity provider, offers the following tips to stay safe when shopping online:

  1. Don’t click on declined payment links in emails, even if they look like they’re from a trusted retailer like Amazon. Instead, log in to the retailer’s official website to check the payment status.
  2. Be wary of free offers for digital assets, especially in online video games. Cybercriminals often use these to trick users into giving away their login details.
  3. Be cautious when purchasing from new or unknown online stores. Look for warning signs like a lack of company information or a recently created domain.
  4. Don’t fall for social media scams advertising too-good-to-be-true deals. Check comments and user profiles carefully before making a purchase.

Don’t Get Duped: Common Scams Targeting Individuals and Businesses

In the digital age, scammers have become increasingly sophisticated, deploying deceitful tactics to defraud individuals and businesses. Understanding the landscape of these scams is the first line of defense; awareness and vigilance are potent weapons in the battle against fraud. From phishing to a full-blown business email compromise, criminals’ arsenal is varied and insidious. Here’s a dive into the most common ones.

Types of Scams

Both individuals and businesses are vulnerable to many scams, which can result in significant financial losses. While new scams continue to emerge, some have stood the test of time and remain prevalent today.

Business Number Spoofing Scams

Business number spoofing scams involve fraudsters using technology to alter the caller ID to make it appear that the call is coming from a legitimate business number, often recognized and trusted. This scam tactic is not only a problem for the individuals who receive the calls but also for businesses whose numbers are spoofed. Customers may be tricked into giving away personal information or making payments, thinking they are dealing with an actual company representative.

Individuals must independently verify the caller’s identity, such as calling the business back through the official number on their website. A good scam likely fix for businesses should involve informing customers through various channels that they will never ask for sensitive information or immediate payment over the phone. Additionally, companies should monitor for reports of their business number being misused and take steps to alert customers promptly if such incidents occur.

Phishing Scams

Phishing scams are fraudulent attempts to obtain sensitive information, such as usernames, passwords, and credit card details, by disguising as a trustworthy entity in an electronic communication. These attacks often come in emails but can also occur via text messages or social media platforms.

The scammer will typically use a sense of urgency or fear to prompt the victim into providing personal information. For example, an email may claim that your bank account has been compromised, and immediate action is required to prevent fraud. The sender will then provide a link for you to click on, leading to a fake website that steals your login credentials.

Be cautious of unsolicited emails or messages asking for personal information. Be wary of urgent or threatening language, and never click on links or open attachments from unknown sources. If you receive an email claiming to be from a legitimate company, it’s always best to go directly to their website instead of clicking on any provided links.

Business Email Compromise

Business email compromise (BEC) scams target businesses using social engineering and email spoofing to deceive employees into transferring money or sensitive information to the scammer. These scams often involve a hacker gaining access to a company’s email system and posing as a high-level executive, such as the CEO or CFO, to request urgent wire transfers or confidential data

Businesses should implement strict authentication processes for financial transactions and educate employees on the red flags of a potential scam. Reviewing and regularly updating security protocols, such as multi-factor authentication, is essential to prevent unauthorized access to company emails.

Online Shopping Scams

With the rise of e-commerce, online shopping scams have become increasingly prevalent. These scams often involve fake websites or social media pages advertising popular products at meager prices. Once a customer makes a purchase, they receive a counterfeit or never receive the product.

Always research before purchasing from unfamiliar websites or social media pages. Look for reviews and ratings from previous customers, and be wary of deals that seem too good to be true. Use secure payment methods such as credit cards or PayPal, which protect against fraudulent charges.

Government Impersonation Scams

Government impersonation scams often target the elderly and individuals with limited English proficiency. These scams involve a criminal posing as a government official, such as an IRS agent or immigration officer, and threatening legal action if payment is not made immediately.

It’s important to remember that government agencies will never demand immediate payment over the phone or via email. If you receive a call or email from someone claiming to be from a government agency, hang up and contact the official agency directly to verify the information.

Investment Scams

Investment scams often promise high returns with little to no risk and can take various forms, such as Ponzi schemes or cryptocurrency fraud. These scams prey on individuals’ desire for quick and easy wealth, luring them into investing their hard-earned money into fraudulent ventures.

Always do thorough research before investing in any opportunity. Be wary of promises of high returns with low risk, and never feel pressured to make a quick decision. Seek advice from trusted financial advisors or research before making any investment decisions.

Tech Support Scams

Tech support scams involve fraudsters pretending to be from a reputable tech company, such as Microsoft or Apple, and claiming an issue with your computer or device. They will then ask for remote access to your device, install malware, and charge a fee for their “services.”

Legitimate tech companies won’t contact you out of the blue asking for personal info or remote device access. If you receive a call from someone claiming to be from a tech company, verify with the official company. Always be cautious of unsolicited requests for device access or personal info.

Protect Yourself

In addition to being aware of common scams, there are several steps you can take to protect yourself from becoming a victim:

 

  • Never give out personal information over the phone, email, or social media unless you have verified the recipient’s identity.
  • Keep your devices and software updated to prevent hackers from accessing sensitive information.
  • Be cautious when clicking on links or opening attachments from unknown sources.
  • Use strong and unique passwords for all your accounts, and enable multi-factor authentication whenever possible.
  • Stay informed about the latest scams and be vigilant in detecting fraudulent activity.  

Being aware and vigilant helps prevent scams. If targeted or victimized, resources like the Federal Trade Commission and the Better Business Bureau are available for reporting and recovering from financial loss. Act swiftly if you suspect a scam to minimize potential damage.

Overall, in a world rife with fraudsters, maintaining vigilance is paramount. By staying informed about the common types of scams and their telltale signs, individuals and businesses can take proactive measures to protect themselves from becoming the next victims. Remember, when something seems too good to be true—it probably is. Stay safe, and don’t get duped.

UPS customs fee sms scam to watch out for

There is plenty of scams knocking about now and if you are one to regularly get packages like me it seems like an easy target for scammers be it coincidental or not these scams are getting better all the time and catching people out and even some high profile individuals have took to the press here which was a silly move in my eyes they should know better.

When it comes to scams they are with all courier companies and in the form of looking for some form of payment such as customs fees and they do have tell tale signs from the offset such as a bad URL and incorrect spelling in the text itself.. See  below what the situation is with the UPS customs fee scam is.

In all cases if you do get an sms or email and not sure you can always check if these are real or fake by checking the tracking code with the courier website or using 17 track as we have shown above and in the video below and you will swiftly get the result, in all cases you should always ask and check before proceeding any further as it is most likely a scam and this one with UPS is a new one on me and for the most looks original.

Video

Sale shoppers urged to walk, not run, this sale season amidst Black Friday scams

Revolut, the global financial app with over 2.5 million customers in Ireland, warns that euphoria and urgency experienced by shoppers seeking to score a deal may come at a cost.

David Eborne, Head of Financial Crime at Revolut shares types of scams shoppers should be weary of:

  • Fake websites: Scammers use the latest and greatest tech to set up fake retailer websites so that they look exactly like genuine online retail stores. Some of the fake stores will send you the product you purchased but their real goal was to obtain your personal and card data.
  • Selling fake goods: Some sites sell luxury items like popular jewellery or clothing brands, or electronics at very low prices. Sometimes shoppers will receive the item they paid for but they will be fake or other times they will receive nothing at all.
  • Temporary fake sites: A newer version of online shopping scams involves the use of social media platforms to set up fake online stores. The stores open for a short time and then disappear after some sales are made.
  • Social media advertising: Scammers use social media to advertise their fake website. Often they use “Swipe up” features and put a time pressure against it to create a sense of urgency.

The Safest Way to Shop Online
For many customers, a fear when shopping online is to have their card details stolen. However, David says this risk can be mitigated by using Revolut’s single-use virtual disposable cards. The cards provide users with a temporary, randomly generated card number, CVV, and expiration date to be used for a single transaction. Once the transaction is completed, the virtual card is automatically deleted, reducing the risk of unauthorised transactions, and safeguarding personal and financial information. David also advises that if a purchase is not received or was misrepresented by the seller, then customers should raise a dispute via the Revolut app.

Last year, over Black Friday and Cyber Monday, Revolut customers in Ireland spent €1.5m on more than 30,000 virtual disposable cards – a year on year increase of 136% as compared to the same timeframe in 2021.

Across the industry, fraudsters stole €84.6m through frauds and scams in 2022, an increase of 8.8% on 2021. The data from BPFI also reported a 19% decrease in authorised push payments (APP fraud) transactions in 2022 compared to 2021*. David encourages even more customers to use virtual disposable cards to help with security when shopping online.

David Eborne, Head of Fraud Operations at Revolut, says: “Black Friday shoppers are regularly left deflated and out of pocket after being duped by online scammers, particularly when under time pressure to buy an item.

“At Revolut, our top priority is to help avoid online fraud to keep you and your money safe. Protected by a 2,500-strong, 24/7 fraud prevention team, in 2022 we prevented our customers from falling victim to more than €220M in potential fraud. Our sophisticated fraud detection systems constantly monitor for high risk transactions to keep you safe while you continue saving, sending and spending with ease.”