A recent surge in impersonation scams in Ireland has prompted the Bank of Ireland to warn its customers about the increasing prevalence of fraud. The bank's research, conducted by Red C, reveals that 82% of people are targeted by fraudsters at least once a month, while 36% are targeted weekly. This finding coincides with the launch of a national fraud awareness campaign by the bank.
Impersonation scams typically involve fraudsters posing as parcel delivery companies, road toll providers, or even banks. According to the study, 80% of people have received fraudulent communication from individuals pretending to be parcel delivery companies, 55% from road toll providers, and 49% from their own banks.
Nicola Sadlier, Head of Fraud at Bank of Ireland, emphasized the need for vigilance and awareness as fraud becomes an increasingly common part of people's lives. "Impersonation is at the root of the majority of fraud in circulation for both our personal and business customers," she said.
Sadlier further explained that fraudsters often exploit vulnerabilities by impersonating children in need of urgent help to target parents and trick businesses into granting access to their accounts. She described these individuals as "cynical criminals" whose primary goal is to gain access to people's bank accounts and steal their money.
The Bank of Ireland urges customers to adopt a 'Stop, Think, Check' approach when they receive suspicious messages. Customers should only bank through an official app or website and treat all unsolicited calls, texts, or emails as potential fraud attempts.
Despite the increase in scams, 89% of targeted individuals quickly recognized fraudulent attempts and either deleted or ignored them. However, due to the sheer volume of scams, even a small percentage of successful attempts can yield significant results for fraudsters.
As part of its awareness campaign, the Bank of Ireland is collaborating with cyberpsychologist Professor Mary Aiken to help build consumer awareness about fraud and explain the tactics used by fraudsters. This campaign includes a series of online videos offering insights and tips for protecting personal and financial information from scammers and will run for 14 weeks on various digital channels, including social media and radio.
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