Tag: #fraud

Revolut amps up fight against impersonation scams

Revolut, the global fintech with more than 65 million global customers and 12 million in the UK, is today launching a new in-app feature designed to protect users from one of the most insidious types of fraud: impersonation scams. The new feature detects when a customer opening the Revolut app is on the phone – this includes apps allowing voice calls – and confirms whether they are, or not, talking with a Revolut agent. It goes one step further than similar features in the market, helping customers promptly take the right action to report attempted fraud and keep their funds safe if it is found they’re being targeted.

With the rise of AI-generated deepfake voices and increasingly sophisticated social-engineering tactics, criminals are finding new ways to convince consumers they are speaking to their bank or somebody they trust. Impersonation scams trick victims into believing they’re on a legitimate call with a trusted financial institution or person – often pressuring them to move money to safer accounts, to share sensitive data, or to approve fraudulent transactions.

This threat is accelerating rapidly. Scammers can now generate highly convincing scripts and even synthetic voice mimics. Concerningly, A 2021 study found that only 25% of people can accurately distinguish a deepfake voice from a real one – however, most participants falsely believed they could identify the fakes. This leaves people vulnerable to scams – only adding to the surge of APP (Authorised Push Payment) fraud.

Empowering users with timely, actionable protection

Revolut’s new feature introduces a live in-app banner that appears the moment the app detects the user is on a phone call. The system identifies whether the call is coming from Revolut or from another number and advises accordingly:

  • If the caller is Revolut, the banner will confirm that the call is legit
  • If the caller is not Revolut, the user will see a clear, urgent banner informing them that they are not on a call with Revolut
  • Tapping the banner leads users to actionable protection pathways based on what’s happening.

This real-time contextual system provides an additional layer of defence against impersonation attempts that occur during live calls – a scenario where victims can be caught off guard and vulnerable under pressure.

Rami Kalai, Product Owner at Revolut said: “Revolut is committed to building a safer financial future. As fraudsters adopt AI and advanced deepfake tools, we need to innovate fast to defend our customers and stay ahead of rapidly evolving fraud threats. This new feature not only gives users real-time, contextual warnings in the moment they need them most but also guides them to identify impersonation scams providing clear, actionable steps to keep their money safe while the fraud attempt is happening.”

A broader strategy to protect customers

This launch builds on a suite of recent features introduced by Revolut to protect customers from scams and unauthorised activity. In 2024 alone, Revolut’s advanced fraud-prevention systems saved customers more than £600 million that would have otherwise been lost to scams. Recent releases include:

  • In-App Calls – allowing customers to speak to Revolut directly and securely via the in-app feature, eliminating the need to trust phone numbers received externally in the vast majority of cases.
  • Wealth Protection and Street Mode – features designed to keep transfers safe through biometric verification and delay them, in the case of Street Mode, to contrast specific events like transfer mugging.
  • Enhanced machine-learning systems that detect and block risky transactions before they leave a customer’s account.

The new feature is already active for all Revolut customers with an iOS device. Android users will need to proactively authorise the feature from the Security Hub.

Disclaimer

This feature is optional for Android users and does not guarantee complete protection

Bank of Ireland warns customers of ads impersonating well-known retailers

Bank of Ireland is warning customers about social media advertisements currently in circulation which are impersonating well-known retailers offering deals and bargains.

With online shopping at its peak during the holidays, fraudsters are increasingly targeting consumers through scam social media advertisements. These ads often impersonate well-known retailers, luring shoppers with fake offers and directing them to counterfeit websites designed to steal personal and financial information.

The Bank is also reminding customers that its dedicated fraud support team is available 24 hours a day, seven days a week throughout Christmas and New Year. Last year Bank of Ireland’s fraud prevention team received over 10,000 calls from customers during the peak holiday period (23 December to 29 December), with 550 calls on Christmas day alone.

Key advice for consumers:

  • Be cautious of social media ads that look too good to be true.
  • Always verify that you are shopping on the official website of a retailer.
  • Avoid clicking on links in unsolicited messages or posts – go to the retailer’s website for offers.
  • If you suspect fraud, contact Bank of Ireland immediately.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Christmas should be a time of joy, not worry. Unfortunately, fraudsters see this season as an opportunity to exploit consumers, and we’re seeing many fake adverts currently which are impersonating well known retailers. Our fraud team is working around the clock, even over the Christmas and New Year period, to support customers. If something feels suspicious, trust your instincts and reach out to us straight away.”

Bank of Ireland customers can call the fraud team 24/7 on Freephone 1800 946 764.

Cubic Launches AI-Enabled FleetWallet partnership with GoCar

Cubic³, a global leader in software-defined vehicle (SDV) solutions, today launches FleetWallet³, its AI-enabled in-vehicle payments platform designed to transform how commercial fleets, car-share companies and automotive OEMs manage fleet fuel and mobility payments.

FleetWallet³ is an AI in-vehicle payments solution that initially eliminates the need for physical fuel cards, prevents fraud and delivers seamless and compliant automation. By combining data intelligence with secure payments, it sets a new standard for AI connected and efficient fleet management and operations, all without additional hardware.

As part of its rollout, firstly across Europe, Cubic³ has partnered with GoCar, a leading car-sharing service, which will showcase FleetWallet³’s potential to support mobility providers, leasing companies and corporate fleets alike.

 Paul Foley, Commercial Director of FleetWallet³, said: “Fraud and card misuse remain some of the most persistent pain points for fleets and car-share providers. By integrating telematics with secure payments, our platform protects against both internal misuse and external compromise, delivering over 10% savings on fuel costs while dramatically reducing administrative overhead.”

Joe Quirke, Head of GoCar Ireland, commented: “Our partnership with FleetWallet³ aligns perfectly with GoCar’s commitment to smarter, more sustainable mobility. As an early adopter of this solution, we’re excited to demonstrate how secure, automated and increasingly intelligent payments can reduce risk and improve efficiency across shared mobility and fleet operations.”

The Platform Addresses Five Key Challenges:

 

  • Intelligent, Adaptive Fraud Prevention – Real-time telematics and data analytics help fleets prevent theft and misuse, unlocking over 10% in fuel savings while minimising manual reconciliation.
  • Seamless, Secure and Automated Payments – Fully integrated, PSD2-compliant fleet payments enable hands-free management across Europe’s strictest financial and tax regulations.
  • Real-Time Insights for Smarter Fleet Management – Transparent, data-driven reporting provides instant visibility into fleet performance and fuel consumption.
  • Centralised, GDPR-Compliant Control – A single platform to manage vendors and services securely, simplifying operations across Europe’s diverse fuel and mobility networks.
  • AI-Enabled Fleet Intelligence – FleetWallet³ will leverage AI to evolve with every transaction, learning from vehicle data to predict needs, optimise costs, and enable intelligent connected services.

The Future of AI-Powered Fleet Intelligence

 Looking ahead to 2026, Cubic³ is advancing FleetWallet³ with AI-powered fraud detection, Smart Transaction Intelligence, and predictive analytics. A new conversational assistant will let managers “talk to their data,” detect anomalies, and act instantly – building intelligence that helps forecast costs, cut emissions and drive real-time sustainability.

AI Partnerships and Software-Defined Vehicle Integration

As part of its ongoing AI roadmap, Cubic³ is exploring new data-exchange partnerships with fleet-management providers and automotive OEMs to unlock the next wave of intelligence – from predictive maintenance and driver-behaviour analytics to EV charging optimisation and machine learning.

This approach positions Cubic³ as the AI orchestration layer for software-defined vehicles, bridging operational, financial and environmental data into a unified intelligence ecosystem.

“AI marks a defining moment for FleetWallet³ and the mobility and automotive industries,” said Foley. “Leveraging this technology, FleetWallet³ will become a self-learning platform that evolves with every transaction – predicting needs and connecting services from parking and tolls to EV charging, transforming vehicles into intelligent hubs within a smarter, more sustainable mobility ecosystem.”

For more information, visit the FleetWallet³ website at www.cubic3.com/product/fleetwallet.

What Are the Most Reliable Sources for Checking Licensed Loan Providers in Singapore?

Finding a safe loan provider in Singapore takes more than just a quick online search. With many options available, it can be hard to know which sources give you accurate and trustworthy information. You need to know where to check licensed loan providers so you can borrow with confidence and avoid scams.

This article will guide you through the most dependable sources that help you confirm if a loan provider is properly licensed. You will see how official listings, government sites, and updated records give you the clarity you need before making any financial decision.

Quick Loan Credit Card Consolidation Loan

A credit card consolidation loan helps you combine multiple card balances into one payment. This can make it easier to manage your debts and reduce the total interest you pay each month. It is often used by people who want a simpler repayment plan.

If you need faster access to funds, an instant cash loan in Singapore can provide quick approval and disbursement. This option may suit you if you face urgent expenses while also trying to manage existing card debt.

The process is usually straightforward, with shorter approval times compared to traditional bank loans. You can expect a focus on speed and convenience, which helps if you want to address your debt quickly without long waiting periods.

By consolidating your credit card balances, you only need to track one monthly payment. This can reduce missed payments and help you regain better control over your finances.

Registry of Moneylenders by the Singapore Ministry of Law

The Registry of Moneylenders is the official source you should use to confirm if a loan provider holds a valid license in Singapore. It is maintained by the Ministry of Law and updated regularly to reflect the current list of approved lenders.

You can find details such as the lender’s business name, license number, address, and contact information. This helps you check that the details match what the lender provides before you proceed.

The registry also shows lenders whose licenses have been suspended or revoked. This allows you to avoid providers that no longer have the right to operate.

By using the registry, you reduce the risk of dealing with unlicensed lenders. It gives you a simple way to verify information before you share personal details or agree to any loan terms.

SBO.sg Top Licensed Moneylenders list

SBO.sg highlights a list of licensed moneylenders in Singapore that you can use as a reference. The site reviews providers based on factors such as reputation, customer feedback, and loan options. This gives you a quick way to compare different lenders without searching across multiple sources.

You can use their list to check which lenders are known for transparent terms and fair practices. By reviewing details like interest rates and repayment flexibility, you gain a clearer picture of what each lender offers. This helps you narrow down choices that fit your needs.

In addition, the list serves as a starting point before you confirm details with official government records. It allows you to save time by focusing only on names already reviewed for professionalism and service quality. Therefore, you can approach your loan search in a more organized and informed way.

Official Singapore Government websites

You should always check licensed loan providers through official government websites. These sites carry accurate and verified information, which helps you avoid false or misleading claims from unlicensed operators.

The Ministry of Law hosts the Registry of Moneylenders, where you can confirm the name, license number, and contact details of approved lenders. This step allows you to verify that a lender is genuine before you commit to any agreement.

Government websites in Singapore use the “.gov.sg” domain. This makes it easier for you to identify authentic sources and avoid fake sites that may try to trick you.

You can also find tools that let you verify other official records, such as business registrations or certificates. Using these platforms gives you direct access to information maintained by the authorities, which reduces the risk of dealing with fraudulent services.

MinLaw’s updated licensed moneylenders list

You should always start with the official list from the Ministry of Law. This list contains every licensed moneylender that has approval to operate in Singapore. It helps you confirm if a lender is legally recognized before you decide to borrow.

The list updates regularly, so you can trust that the information reflects the most current status of each lender. If a company does not appear there, you should treat it as a warning sign.

You can also verify both the physical address and the website address of a lender against the official list. This step protects you from dealing with unlicensed or fraudulent operators.

By using this source, you save time and reduce risk. It gives you a direct way to check legitimacy without depending on third-party reviews or advertisements.

 

You can check licensed loan providers in Singapore by using the official list from the government. This list is updated often and shows which lenders hold a valid license.

It also helps to confirm details directly with the lender, such as their office address and contact information. Clear communication and transparent terms are strong signs of a proper lender.

By using official sources and cross-checking details, you protect yourself from scams and avoid unlicensed operators. This approach gives you a safer way to borrow with confidence.

 

Artificial intelligence technologies in online casinos: a new era of personalised gaming

In recent years, the online casino industry has undergone significant changes thanks to the introduction of artificial intelligence (AI) technologies. AI not only improves the gaming experience, but also provides players with unique, personalised experiences. In the UK, where gambling is strictly regulated, the use of AI is becoming an important tool for improving service quality and compliance with safety standards.

Introduction: AI as a catalyst for change in online casinos

The website https://elvino.ie/ is an example of how technology can be integrated into various areas of business. Similarly, online casinos in the UK are actively implementing AI to improve user interaction and optimise their services. AI allows them to analyse player behaviour, predict their preferences and offer personalised recommendations, making the gaming experience more enjoyable and secure.

Personalising the gaming experience with AI

Artificial intelligence (AI) is actively used in online casinos to create a personalised experience for players. This significantly improves the interaction with the platform, making it more exciting and comfortable. One of the most important aspects that helps casinos provide such an experience is analysing player behaviour and predicting their preferences.

Analysing player behaviour

Analysing player behaviour is a process in which AI studies each player’s interaction with the casino. For example, the system can track which games a player chooses most often, how often they place bets, what time of day or week they prefer to play, and how large their bets are. Using this data, artificial intelligence creates a detailed profile of each user, which is then used to create unique offers.

An example of the use of this analysis is the recommendation of games that may be of interest to a particular user based on their previous preferences. For example, if a player often chooses slots with a certain theme or bonus features, AI will offer them new games that match these interests. In addition, the system can offer more suitable bets or even special bonuses that match the user’s playing style.

Another important aspect is the adaptation of the online casino interface to the player’s preferences. AI can optimise the page design by offering the player the most convenient way to navigate or arrange elements based on which features they use most often. This approach not only improves interaction with the site, but also increases the level of comfort, as players can access the information they need with minimal effort.

This type of personalisation makes each player feel that the casino cares about their individual preferences, which increases engagement and creates emotional attachment to the platform. This, in turn, can increase the amount of time spent on the platform, as well as the frequency of bets.

Predicting preferences

AI is not limited to analysing current user behaviour. Modern machine learning algorithms can predict players’ future preferences, enabling online casinos to proactively adapt to each user’s interests.

Machine learning algorithms analyse not only the player’s current actions, but also more complex behaviour patterns, revealing hidden preferences that may only become apparent with deeper analysis. For example, if a player shows interest in certain categories of games (such as card games), even if only rarely, AI can start offering them similar games in the future, even if they have not previously shown any obvious interest in them. This allows the casino to offer more accurate recommendations and increases the chance that the player will return to play in the same categories or continue to explore other similar games.

AI can also use data on how often players are involved in special promotions, bonuses or tournaments. If a player has already used bonuses for certain games several times, the system may offer them personalised bonuses for playing the same slots or table games. Such personalised offers help increase the likelihood that the player will continue to visit the platform and place bets, as the offers match their interests.

Thus, using AI to predict preferences helps online casinos not only offer players more relevant content, but also significantly increase engagement and satisfaction. This contributes to an increase in the frequency of repeat visits and bets, which is beneficial for both players and casino operators.

Impact on long-term player loyalty

Personalised offers and preference predictions have a significant impact on long-term player loyalty. When users see that a casino adapts to their needs and offers relevant bonuses and games, they feel valued and important to the platform. This, in turn, fosters a positive attitude and increases the duration of their interaction with the casino.

It is also worth noting that a personalised approach helps reduce fatigue from repetitive offers and standard promotions. For example, players who have already won several large sums can be offered bonuses that are not limited to bets, but also offer unique gaming opportunities that match their interests. This approach helps to retain the player’s attention, which significantly reduces the likelihood that they will leave the platform in search of new entertainment.

Using AI to analyse player behaviour and predict their preferences opens up new opportunities for online casinos to enhance the personalisation of the gaming experience. This approach not only increases player engagement and loyalty, but also contributes to the long-term success of the platform by creating a unique and engaging experience for each user.

Improving security and preventing fraud

Detecting suspicious activity

AI is capable of identifying anomalies in player behaviour, such as unusual bets or frequent account changes. This helps to respond quickly to possible cases of fraud and prevent financial losses.

Compliance with security standards

In the UK, online casinos are required to comply with strict security requirements. AI helps ensure compliance with these standards by automatically verifying transactions and user identification, reducing the risk of legal violations.

Improving customer service with AI

One of the key areas of application for artificial intelligence technologies in online casinos is improving customer service. AI can significantly improve the efficiency of communication with users, minimising response times and facilitating the resolution of standard and technical issues. The introduction of such technologies contributes to the creation of a more convenient and reliable gaming environment, increasing player satisfaction.

Chatbots and virtual assistants

One of the most striking examples of the use of AI in online casino customer service is chatbots and virtual assistants. These systems are capable of providing round-the-clock support, answering frequently asked questions, providing information about current promotions and bonuses, and helping players navigate the site.

Chatbots, built on natural language processing algorithms, can effectively interact with users by understanding and interpreting queries. For example, if a player encounters a problem during gameplay or cannot find the game they are looking for, the bot can instantly provide a solution by offering a link to the relevant page or suggesting possible steps to resolve the issue. This reduces the workload on support staff and allows players to get answers without delay, even during late hours.

In addition, virtual assistants can not only answer questions, but also offer personalised recommendations. For example, they can advise a user to try new games based on their preferences or provide information about current bonuses that are suitable for their playing style. This personalisation helps to make interaction with the platform more enjoyable and convenient, which in turn increases player loyalty and the amount of time spent on the site.

With the help of AI chatbots, online casinos are able to serve thousands of users simultaneously, which is important for ensuring high-quality service in conditions of constant activity. This reduces the load on operators and speeds up the processing of requests, which is especially important during peak hours.

Automation of request processing

AI not only helps in communicating with customers, but also automates many standard procedures, such as password recovery, bonus status verification, or personal data updates. These processes, which usually take up employees’ time, can be fully automated with AI.

When a player forgets their password, instead of waiting for a response from customer support, the system can automatically offer them options for restoring access. A virtual assistant can guide the user through all stages of this process, providing step-by-step instructions. Such automation significantly reduces the workload on the support team and speeds up problem solving for users.

In addition, automating requests to check bonus or balance status makes the platform more convenient and accessible. Players can get up-to-date information without having to wait for a response from customer support, which improves their overall experience. As a result, not only does the casino’s efficiency increase, but so does player satisfaction, as they can instantly get all the information they need.

Automation also helps reduce the number of errors that can occur when processing requests manually, especially when it comes to large platforms with thousands of users. AI can process requests accurately and quickly, ensuring that users always receive the correct data. This also reduces the likelihood of conflicts, which is especially important for maintaining good customer relations.

Improved customer interaction

The use of AI in customer service allows online casinos not only to increase the speed of request processing, but also to ensure a higher quality interaction with players. AI systems, such as chatbots and virtual assistants, are capable of analysing customer information, taking into account their preferences and offering relevant solutions. This helps to create an atmosphere of personalised service, where every player feels important and valued by the casino.

It is particularly important that AI can collect and analyse data on customer interactions. This allows casinos to identify potential problems in advance and improve the quality of service by offering players solutions that meet their needs and expectations.

Responsible gaming and player support

Monitoring gaming behaviour

AI analyses users’ gaming habits, identifying signs of potential addiction or excessive betting. When such signs are detected, the system can offer the player to set limits or provide information about support services.

Education and information

Online casinos use AI to create educational materials and notifications that help players understand the risks and approach gambling responsibly. This promotes healthy gaming habits and reduces instances of addiction.

The future of AI in online casinos

Every year, artificial intelligence technologies become more integrated into online casinos, opening up new horizons for improving the user experience. In the future, AI will continue to evolve, offering players and operators increasingly powerful tools for personalising games, enhancing security and improving service quality. Let’s take a look at some of the innovations that could become an integral part of the future of online casinos.

Virtual assistants with augmented reality elements

One of the most exciting prospects is the use of augmented reality (AR) in combination with AI-powered virtual assistants. This integration will transport users to a whole new experience where they can interact with virtual characters, games and environments in real time.

In the future, players can expect virtual assistants to feature augmented reality elements instead of simple text chatbots or voice assistants. This could include virtual dealers who will host games in real time and interact with players using AR technology. For example, players will be able to see virtual cards, spinning roulette wheels or game elements right on their screens, taking into account their actions and preferences.

AR elements can also be used to create more immersive gaming interfaces where players can not only watch the game, but also actively participate in it, for example, by manipulating virtual objects with gestures or head movements. Such technologies will usher in a new era in online casinos, giving users the opportunity to experience a traditional casino from anywhere in the world.

Biometric identification for increased security

With the development of AI and biometric technologies, it is becoming possible to interact with online casinos in a more reliable and secure manner. In the future, online casinos may switch to biometric identification, which will significantly increase security and reduce the risk of fraud.

Biometric identification based on AI technology can use parameters such as fingerprints, facial recognition or even the iris of the eye to verify a player’s identity. This will eliminate the need for passwords and logins, which can be stolen or forgotten. The introduction of such a system will significantly improve account security and speed up the login process, making it safe and convenient.

In addition, biometrics can be used to prevent fraud, for example by analysing player behaviour patterns and identifying suspicious activity in real time. AI will be able to instantly identify unauthorised access or unusual transactions, which will help reduce the number of fraud cases and increase user confidence in online casinos.

Adaptive gaming interfaces

Another important area for the future of AI in online casinos is the creation of adaptive gaming interfaces. Currently, many casinos offer standard interfaces for all users, but in the future, AI will be able to adapt the interface of the website or application to the preferences of each player.

For example, based on an analysis of player behaviour, AI can automatically adjust the layout of elements on the screen, change graphics or suggest new games depending on the player’s preferences. Players can choose which type of interface is more convenient for them — bright and rich or more calm and minimalistic. Such systems can take into account not only visual preferences, but also the specifics of interaction with the interface, for example, which buttons or menus the player uses most often.

In addition, AI can automatically offer the user training or assistance in the game. This can be useful for beginners who are just starting to learn about gambling, as well as for experienced players who want to deepen their knowledge and improve their skills.

AI and responsible gaming support

Another important aspect of the future use of AI in online casinos is the development of technologies that promote responsible gaming. AI will be able to track users’ gaming habits and warn them about the risk of addiction. For example, systems can automatically offer players to set limits on bets or on the duration of the game if they begin to show signs of excessive involvement in the game.

Such technologies will help create a safer gaming environment and promote compliance with responsible gaming standards, which are essential for maintaining trust and long-term customer relationships. Furthermore, AI will continue to evolve in terms of diagnosing gambling problems, providing platforms with new tools to respond quickly to potential risks.

Integration with other technologies

With the development of AI, online casinos will integrate their systems with other advanced technologies, such as blockchain and cryptocurrencies. This will improve secure transaction processes and create additional opportunities for personalised offers and bonuses. AI will analyse blockchain data and use it to more accurately analyse player behaviour, creating a more personalised and secure gaming environment.

In addition, with the development of the Internet of Things (IoT) and 5G technologies, online casinos can provide players with an even faster and better gaming experience. These technologies can enable the creation of more interactive games, improving graphics quality and user interaction, and AI will use this data to further personalise and optimise games.

Conclusion

The introduction of artificial intelligence technologies in UK online casinos represents a significant step forward in the development of the gambling industry. Personalisation, improved security, enhanced customer service and support for responsible gaming all make the gaming experience more comfortable and safer for users. Given current trends, we can expect AI to play an increasingly important role in shaping the future of online casinos.

 

From Heartbreak to Bank Break Romance Fraud Tops €7m

Summer is over, routines are back, and for many, that means a return to the world of online dating. But with swipes and matches comes a growing risk: romance fraud.

Fraudsters are no longer just hiding behind stock images or stolen selfies. Increasingly, they’re using slick digital tricks from manipulated images to eerily convincing videos and even cloned voices to make themselves appear real. The aim is simple: build trust, exploit emotions, and walk away with hard-earned money.

According to Garda figures, 245 people have reported romance fraud since 2020, with average losses of approximately €28,500, adding up to well over €7 million stolen in total. In some of the most extreme cases, a woman lost over €450,000 across 18 separate transactions, while a man was defrauded of more than €380,000.

“Romance scams are different from other types of fraud because they’re built on emotional manipulation,” says George Foley of ESET Ireland. “People don’t just lose money; they lose trust, dignity, and often confidence in their relationships. The technology criminals are now using makes these scams even harder to spot, which is why awareness is vital.”

He explains that many victims only realise what has happened when it is far too late, because the scams are designed to feel real and to build trust over time. With more people expected to turn back to dating apps this autumn, he warns that the risk is only going to grow.

For more information, visit www.eset.ie

Seven in ten don’t trust social media companies to protect them from fraud

Seven in ten social media users do not trust social media companies to protect them from fraud and nearly three-quarters (73%) distrust the ads they see on these platforms. Research commissioned by Bank of Ireland for its latest fraud awareness campaign also reveals that 91% believe social media firms should be banned from profiting off fraudulent ads, while 90% say that financial service advertisers on social media should be required to prove their legitimacy.

Bank of Ireland is also issuing a warning about ‘pump and dump’ WhatsApp investment scams. Fraudsters lure victims via fake social media ads to join an investment WhatsApp group. Posing as a financial investment expert, the fraudster then spreads misleading information to group members about particular companies/stocks. Group members then buy the stock, the price is pumped up due to the increased demand and when the price peaks, the scammers sell (dump) their holdings at a profit, and disappear.

Bank of Ireland fraud research (conducted by Red C, August 2025) reveals:

 

  • 83% of consumers believe that fraud is a big problem in society today
  • 76% say that the risk of fraud scams makes them wary when they shop online
  • 69% of social media users don’t trust social media companies to protect users from fraud
  • 73% of those who use social media now don’t trust adverts on social media
  • 86% of those seeing fraudulent content on social media platforms saw it on Meta platforms
  • 91% feel social media companies shouldn’t be allowed generate revenue from fraudsters placing ads on their platforms
  • 90% feel that companies that advertise financial services on social media platforms should have to prove that the ads are genuine and the company is registered with the Central Bank of Ireland

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Social media platforms have become a lucrative hunting ground for fraudsters and consumers are paying the price while technology giants gain revenue. As we launch our new fraud awareness campaign highlighting scams originating via social media, a new spate of ‘pump and dump’ investment fraud is spreading fast, mainly using WhatsApp.

‘With results from the Latest REC C survey, seven in ten consumers now distrusting social media companies to shield them from fraud, and over 90% demanding an end to platforms profiting from scam ads, the message is clear – the public wants protection. It’s time for increased accountability, not just algorithms’

Bank of Ireland’s new fraud awareness campaign launches with the theme ‘Not all social is social’, highlighting the threat of fraud originating via social media platforms. The Bank’s consumer and business fraud education campaign for 2025 focuses on key fraud themes: Investment scams, CEO fraud, invoice redirection, smishing and fake online purchases.  The digitally-led media campaign provides actionable advice from Bank of Ireland’s fraud prevention experts and international cyberpsychologist, Professor Mary Aiken, to protect customers’ financial wellbeing.

Through extensive public affairs and PR activity, the Bank has been campaigning for a change in legislation to better protect consumers from fraud originating on social media channels.

Professor Mary Aiken said: “Fraud online is now an industrialised, platform-enabled phenomenon. Scammers leverage the same targeting and engagement tools legitimate advertisers use; the difference is that families and businesses bear the cost.

“Bank of Ireland’s findings, which show that seven in ten users distrust platform protection and over 90% want an end to profits from scam ads, reveal an overwhelming public appetite for reform. ‘Not all social is social’, much of it is commercial, algorithmic and adversarial. The solution is safety by design, verifying financial advertisers, building friction and warnings into investment journeys, and enforcing clear accountability when systems enable harm. If platforms can target us to buy, they can target protections to keep us safe.”

Anyone who suspects they have been a victim of fraud should contact their bank immediately so that the bank can try to stop the fraud and try to recover funds. Bank of Ireland customers can call the Fraud Team 24/7 on the Freephone line 1800 946 764.

PayPal to Create 100 Highly Skilled Tech Jobs in Ireland

PayPal today announced that it will create 100 new highly skilled data science roles at its Dublin office. This expansion reflects the company’s commitment to investing in the future of commerce through advanced data science and artificial intelligence (AI) capabilities and marks a new chapter in the transformation of its Irish operations. The new AI team in Dublin will serve as a key spoke in PayPal’s global network, working in close coordination with PayPal’s other innovation hubs.

This hiring initiative is being supported by the Irish Government through IDA Ireland, the country’s investment promotion and development agency, and comes as PayPal continues to evolve its Dublin site beyond its roots as a customer service hub into a centre for innovation at the forefront of the global digital economy.

“As we shape the next generation of digital payments, the talent and innovation coming from Ireland will play a critical role,” said Aaron J. Webster, Global Chief Risk Officer at PayPal. “This expansion reflects both our confidence in the local ecosystem and our ambition to build an AI-driven, data-powered future that embeds trust and safety in every transaction. We are proud to deepen our commitment to Ireland and to invest in highly skilled roles that will help shape the future of PayPal globally.”

The new roles will span a range of disciplines, including AI engineering, data science, software development, risk modeling, and cybersecurity. These positions will support key strategic priorities such as loss prevention and enhancing outstanding customer experiences, placing innovation at the core of PayPal’s global mission.

Webster added: “Our work to solve some of the most intricate and critical commerce challenges globally is fueled by the unprecedented scale of our platform and unmatched data at our fingertips. We are redefining what is possible by empowering data scientists to push boundaries, harness cutting-edge AI, and transform the future of fraud detection and payment security.”

Peter Burke, Minister for Enterprise, Trade and Employment, said: “This announcement by PayPal is a strong vote of confidence in Ireland as a location for high-value tech investment. The creation of 100 highly skilled roles in cutting-edge fields like AI and data science reinforces our status as a global hub for innovation, and I would like to commend PayPal for its ongoing partnership with IDA Ireland.”

Michael Lohan, CEO of IDA Ireland, said: ‘’I am delighted with PayPal’s decision to create up to 100 new highly skilled tech jobs in Ireland. This is a testament to Ireland’s enduring appeal as a location for high-value investments. We are proud to support this growth and look forward to the continued success of PayPal in Ireland.’’

Open positions can be found here.