Bank of Ireland warns of caution following new threat of combined SMS and call scams

According to Bank of Ireland, scammers have developed a new tactic to trick consumers into giving up their bank details.

Customers first receive an SMS, followed shortly by phone calls to persuade them to pass on their bank details.

Once account access is granted, funds are transferred to money mule accounts or spent instantly on items such as electronics.

The Bank of Ireland has reported that the number of cases related to this scam has increased by 40 per cent over the past two weeks compared to the previous month.

Consumers are being urged to keep an eye out for text from Bank of Ireland advising them that a call from the bank is about to arrive. If the customer accepts the call, he is asked to reveal his card details.

If details are provided, the scammers have asked customers to approve a “fake notification” in their app to complete an update process. This notification is actually a real transaction performed by the scam masterminds, with consumers then granting access to the account.

Other variations on this new tactic include sending Bank of Ireland-branded texts telling customers a number to call.

Some customers have also reported receiving a text message claiming to be from An Post or HSE. These texts may contain links that lead to phishing websites.

“Scammers are becoming more and more persistent in their attempts to steal people’s money. Fraudulent text messages are now followed by phone calls from scammers trying to convince people to give up their information,” said Edel McDermott, the bank’s head of fraud.

“Be vigilant if you get a call from someone claiming to be from your bank, credit card company, or some other company you can trust — even if you first get a text message saying you’re with the have to expect a call. No matter what story you are told, never give out your card, account or bank details.”

She advised people to hang up if a call seemed suspicious to them.

More than €12 million was illegally transferred via money mule accounts here in the first half of this year, according to the latest figures from the Banking & Payments Federation Ireland (BPFI). Bank of Ireland warns of caution following new threat of combined SMS and call scams

Fry Electronics Team

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