In these scams, victims receive a text message purportedly from the Bank of Ireland, informing them of suspicious activity on their account. These messages often mimic genuine Bank of Ireland notifications and can include callback numbers, typically landline numbers such as 01/1800 or regional codes. If clients call this number, they will speak to someone who claims to be a representative from the bank, alleging that there have been suspicious transactions on their account and suggesting it may be compromised.
In what follows, victims are instructed to check if they have a Revolut account or any other secondary account. If they do, they are asked to transfer all funds from their Bank of Ireland account into their own Revolut or secondary account. The fraudsters will not request access to the client’s account details such as PINs or codes, thus avoiding common red flags associated with fraudulent activities. The final step involves transferring money from this secondary account to a new “safe” account controlled by the scammer.
Since the start of the year, reports of these scams have increased significantly at Bank of Ireland’s fraud line and Text Checker service. This week saw an alarming rise in daily reports, with numbers over ten times higher than those reported weekly in April and May.
Additional Details on the Scam
According to details provided by Bank of Ireland, the text message warns clients about a suspicious transaction or activity. While these messages may appear authentic, they are part of a deceptive scheme. The callback number, which is usually a landline, might seem legitimate but could be fraudulent.