Bank of Ireland says that it is reminding and warning all of its customers about social media advertisements that are currently in circulation which are said to be “impersonating well-known retailers offering deals and bargains.” With online shopping at its peak during the festive season, fraudsters are increasingly targeting vulnerable consumers through various scam social media advertisements.
The Bank of Ireland also mentioned that these ads often tend to impersonate prominent / well-known retailers, luring unsuspecting individuals with fake offers and directing them to malicious and counterfeit websites designed “to steal personal and financial information.”
The 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 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:
“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.”
In another related update, it was noted that the Bank of Ireland is now urging customers to stay alert to ‘Smishing’ scams over the festive season, as fraudsters try “to exploit consumer behavior 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 potential victims to a fraudster posing “as a representative of the company or from your own bank.”
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.”
Nicola Sadlier, Head of Fraud, Bank of Ireland said:
“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.”
Sadlier added:
“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.”
They also shared:
“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.”