Launch of new Fraud Text-Checker service as three out of four people report receiving fake texts
A new Text-Checker service to check whether text messages are legitimate has been launched for Bank of Ireland customers. The new service comes as fraudsters increasingly target the Irish population. 74% of adults surveyed by Red C say they’ve received scam text messages that appear to be from their bank, up 37% from 2021 figures. 43% have received a scam phone call from a scammer claiming to be from their bank. bank (+25% since 2021) and 52% have received a fraudulent email, an increase of 8%.
Bank of Ireland’s new SMS verification service is for customers who are in any doubt about an SMS they have received that says it is from the Bank. Customers simply send the word “Verify” followed by the SMS they wish to verify to 50365 and they will receive a confirmation within 60 seconds. The Bank has also partnered with Professor Mary Aiken, a world-renowned expert in cyberpsychology, which is the study of the impact of technology on human behavior. Professor Aiken has analyzed some common examples of scam texts and, in a series of videos, will break down what a scammer will do, why it might catch people and what people can do to protect themselves.
Commenting during Fraud Awareness Week, Edel McDermott, Head of Fraud, Bank of Ireland said: “The financial well-being and peace of mind of our customers around their accounts is a top priority for Bank of Ireland. Despite warnings and increased awareness, the threat of fraud, especially via SMS, is growing.
“With our new Text-Checker service, customers can have any text that appears to come from Bank of Ireland checked in 60 seconds. We also work in partnership with Professor Mary Aiken, to help our clients understand the ways fraudsters target them. Professor Aiken’s insights and the Bank’s simple message, Stop, Think, Check, will help customers protect themselves against fraud”.
Professor Mary Aiken commented: “We all know someone who has been targeted or defrauded. There is an epidemic of cybercrime, which is why we need to be aware of how we are being targeted and, most importantly, what we need to do to protect ourselves. We simply cannot trust text messages, emails or phone calls that appear to come from an official company or agency in the first place. It’s hard: trust is a very human trait, but in the age of technology, we have to adapt.
“I am delighted to be working with Bank of Ireland on this initiative – which is a first, as it decodes the behaviors of fraudsters and the tactics they use, making it real for people. The most important part of our advice however is to remind people to just – stop, think and check before reacting or responding to any communication they receive via text, email or phone.”
As fraud becomes more prevalent, consumers are increasingly alert and cautious about becoming a target: 76% regularly consider the threat of fraud when online, an increase of 7% over last year. The tactics used by scammers, including links to fake websites in texts, are also becoming more widely known. While 43% trust receiving an SMS from their bank, this percentage drops to 4% when the SMS includes a link requesting connection to online banking.
Bank of Ireland advice to customers:
· We will never send you text messages containing a link to a website asking for your card number, your 365Online PIN or any one-time access code we have sent you.
· Be very careful with any phone number texted to you. It could be wrong.
· When customers receive an SMS that appears to be from Bank of Ireland, the Text-Checker service (Safe Zone – Bank of Ireland Group Website) is now available.
If you receive a text message claiming to be from Bank of Ireland but you’re not sure if it’s genuine, here’s how to check it:
- Copy the text you want to check.
- Paste into a new message.
- Add the word CHECK before the text. (in the same text)
- Send to 50365.
You can also send it to [email protected] and we’ll let you know if it was really from us. Don’t forget to send a screenshot of the text if possible. If you believe you have disclosed any of your bank details, please call our 24/7 toll-free line. 1800 946 764 immediately.
For more tips and information on fraud, visit boi.com/security Where www.fraudsmart.ie