Bank of Ireland warns of new text-and-call phishing scams

Bank of Ireland (BoI) has issued a warning to customers about a new phishing scam where fraudsters send a text followed shortly by a call, pretending to be from the bank to gain access to people’s account details.

The bank said its fraud prevention team had seen a 40 per cent increase in cases of the particular scam over a two-week period, compared to the same time the previous month.

It said under the latest scam customers often received a text message purporting to be from Bank of Ireland, advising the customer to expect a phone call from the bank. The fraudsters then called the customer trying to get them to disclose their bank account or card details.

If someone hands over their details the fraudsters then tell the person they need to swipe a “fake” transaction or notification on their mobile bank app to complete an update, which is in fact approving a real transaction being made by the scammer.

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Another common variation of the attempted scam includes BoI customers receiving texts claiming to be from the bank and providing a phone number to call.

If a customer calls the line they are asked for their card details, and again told to approve a “fake notification”, which in fact approves a real transaction sending money out of their account.

The funds are often been transferred to money-mule accounts and then laundered to another bank account, or spent immediately to purchase expensive items.

Edel McDermott, head of BoI’s fraud unit, said fraudsters were becoming “increasingly persistent” in trying to steal people’s money.

“No matter what story you are told, do not give away your card, account, or banking details. End the call immediately and do not call the number back if you are suspicious,” she said.

Ms McDermott advised people to not click on any links sent by text claiming to be from a bank, or call back the number. “You can call your bank using the number on the back of your card or a listed phone number,” she said.

“Be vigilant if you receive a phone call from someone claiming to be from your bank, credit card company or another company you may trust,” she said.