AIB issues warning over Easter business scams

AIB has warned businesses to be aware of a higher risk of scams during the two-week period over Easter.

It is typically a busy time for businesses when it comes to payments as it is the end of the tax year for many and also the end of the quarter.

AIB said fraudulent invoice redirection, email fraud, investment scams and malware are threats that are “particularly prevalent”. It has launched a campaign to help businesses spot the signs.

“Criminals hack directly into company email accounts or create new ones that are almost impossible to tell from the real thing,” the bank warned.

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“They email staff members posing as their manager, instructing them to urgently transfer money to a new account. They also pose as suppliers asking staff to change their payment details.

“Businesses are urged to ensure that all staff are aware of this threat and are reminded that when it comes to making payments or transferring money, never act on email instructions alone. Instead, talk to the person directly on a trusted phone number.”

AIB head of financial crime Carol Lawton said: “Criminals will try to take advantage of this period. Fraud can be very distressing for businesses as it often involves significant amounts of money.

“These scams can be very sophisticated, and criminals go to great lengths to defraud by compromising people’s emails or computers, sending emails and messages that appear legitimate, and creating high-quality online advertisements, brochures and other materials.

“We also know that criminals use legitimate names and job titles of people working in various companies, including plausible impersonations, in an attempt to appear genuine.”

On investment scams, AIB said they were “highly sophisticated” and that “experienced business people” can be taken in by them.

“Criminals create fake websites promising far higher returns than usual,” it said. “The websites will always have a page that looks for contact details to allow criminals make their first contact with you. They will call or text from numbers that look genuine and often supply high-quality brochures.

“Business people are urged to remember that if something seems too good to be true, then it probably is. Always check that a firm is regulated and check that the person you’re talking to really works there.”

In terms of malware, it warned businesses that criminals can make fake bank websites that look exactly like the real thing, but which contain malicious software.

This software is designed to then get unauthorised access to computer systems and steal information.

“For example, with malware, if you search for your bank’s website instead of typing it in, you might get a pop up asking for login information or a one-time code, giving criminals all the information they need to begin taking money from you,” AIB said.

“Businesses are reminded to never browse the web for their bank’s website, never enter financial information into pop-up windows and keep antivirus software up to date.”

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