Tag: #smishing

Bank of Ireland warns customers of “smishing” scams this Christmas

Bank of Ireland is urging customers to stay alert to ‘Smishing’ scams over the festive season, as fraudsters try to exploit consumer behaviour by sending them fraudulent text messages during the busy shopping period.

With online shopping and parcel deliveries at peak levels, scammers are sending texts that look like they’ve been sent by trusted delivery companies, motorway toll services, utility providers, Government agencies or even from the banks themselves.

These fraudulent messages often include links to fake websites designed to steal card or online banking details or trying to pressure consumers into paying a delivery or customs charge or update bank account details. Other “smishing” texts will contain a fake phone number that, when called, connects you to a fraudster posing as a representative of the company or from your own bank.

Bank of Ireland is also reminding customers that its dedicated fraud support team is available 24 hours a day, seven days a week throughout Christmas and into the 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 received on Christmas day alone.

As part of Bank of Ireland’s four-point plan to prevent fraud, it has called for the introduction of legislation to allow an SMS scam filter to be deployed in Ireland. This filter would help stop SMS fraud attempts before they happen. Ireland is currently out of step with other English-speaking countries in not having an SMS scam filter in place. This filter would operate like the spam filters that are applied to email inboxes by detecting and blocking harmful links or content.

Key advice for consumers:

  • Do not click on links or reply to text messages looking for payment.
  • Remember toll operators, banks, delivery companies, utility providers and Government agencies will never send a text linking to a website that asks for your online banking details or full card details.
  • Check the identity of the sender. Call the company in question using their legitimate phone number.

Nicola Sadlier, Head of Fraud, Bank of Ireland said: “Unfortunately fraudsters see the Christmas holidays as an opportunity to exploit the consumer rush to get all the festive shopping done, and at this time of the year Bank of Ireland’s fraud team always sees a wide range of “smishing” scams impersonating well-known companies.”

“Our advice to consumers remains the same, keep your guard up and treat every unsolicited call, text, or email as a potential fraud attempt. Our dedicated fraud team is working around the clock, even over Christmas and into the New Year, to protect and support our customers. If something feels suspicious, trust your instincts and contact us straight away.

“Ireland is out of step with other English-speaking countries in not having an SMS scam filter, leaving Irish consumers more exposed to fraud attempts. We would strongly support the introduction of an SMS scam filter in Ireland, which requires legislation, as it would help block many of these fake text messages.”

Bank of Ireland customers can call the Fraud Team 24/7 on the Freephone line 1800 946 764.

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.

Bank of Ireland Fraud Alert: Think outside the box and beware of parcel fraud. #Parcels #Fraud #Smishing

 Bank of Ireland has issued an advisory to consumers today to be extra vigilant against parcel fraud in the peak Christmas shopping and online delivery period.  With the seasonal upsurge in parcel delivery, the Bank has noted a high volume of calls from customers reporting fraudulent activity via ‘smishing’ texts where fraudsters send fake messages claiming to be from recognisable delivery companies.

These ‘smishing’ texts will ask a customer to follow to a link to a fraudulent payment site that will, for example, ask customers to pay a small customs charge or confirm details. The branding on these texts and the destination website will be of one of a household name delivery company like UPS, DPD or An Post. We have covered many of these here before if you search you will get an idea what to watch out for. Here is one example 

Edel McDermott, Head of Fraud at Bank of Ireland said; “The middle of the busiest shopping period of the year is an obvious time for fraudsters to target consumers.  People may be distracted and have less available time to stop, think and check the details on a text and simply reply ‘automatically’ to a company they recognise.  There’s also a good chance that consumers will have bought something online recently so are more likely to think the text is genuine and click one of the fraudulent links currently in circulation.  If they do, they will be brought to a website where they are asked to give their Credit or Debit card details.  The message here is simple: no matter how busy you are, always pause before replying or clicking on a link and take the time to independently check whether a text is legitimate, even if it appears to be from a familiar brand or company. And never disclose confidential banking details”.

Reminders to consumers:

  • Always think before you click: Does this text refer to a legitimate delivery that you are expecting?
  • Do not respond to or click a link in an unsolicited text, even if it appears to be from a company that you recognise.  Always check independently that the text is genuine.
  • Do not use a phone number given to you in the text.
  • Never disclose confidential banking details or security details such as your any digits from your PIN or online password.

Bank of Ireland customers who think they have been the victim of this type of fraud, should contact the Bank as soon as possible: https://www.bankofireland.com/security-zone/report-fraud/

Bank of Ireland is committed to building awareness around fraud. Bank of Ireland will continue to focus on the issues around fraud, through the Bank’s own channels and by working collaboratively through the Bank and Payments Federation of Ireland (BPFI) FraudSMART campaign www.fraudsmart.ie