Fraud Alerts

Bank impersonation scams

Fraudsters are calling customers pretending to be from Bank of Ireland. They say that your account has been compromised and ask you for your card details, online banking details and activation codes.

Don’t share them.

Bank of Ireland will never call you and ask for your full card details including your Card PIN, full 365online PIN or one-time activation codes sent to you in a text or from your Business online Approve APP.

Remember to Stop, Think, Check

• Be wary of any unexpected texts or phone calls claiming to be from Bank of Ireland, especially if they say there is a problem with your bank accounts.
• Never share your full card details, your full 365 online PIN or any one-time authorisation codes that we’ve sent to you by text or from your Business online Approve APP with anyone.
• Remember, Bank of Ireland will never ask you to download any software so that we can take control of your computer or phone, or so we can move your money to a “safe” account.
• Bank of Ireland will never ask you for your card PIN, or to hand over your physical card to a third party.

Bank of Ireland customers who think they gave away their banking details should call our 24/7 freephone line on 1800 946 764 immediately.

Text Scams

Scam texts claiming to be from motorway toll service, utility companies and other trusted providers are circulating at the moment. The texts urge customers to pay outstanding charges or update account details. They have links to fake websites that ask for your card or online banking details. Some texts also contain fake phone numbers that connect you to ‘agents’ who ask for your personal information.

Remember to Stop, Think, Check.

• Do not click on links or reply to texts looking for payment. Remember toll operators, banks, delivery companies, utility providers and Government agencies will never send a text linking to a website that asks for your online banking details.
• eFlow has asked anyone who gets a text about unpaid tolls to ignore the message. Do not to open any links. eFlow does not ask customers to open any links to confirm payment details.
• Check the identity of the sender. Call the company using their legitimate phone number (make sure not to use a phone number in the text).
• If you get a suspicious text, please email a screenshot of it to 365Security@boi.com and delete the text.
• Bank of Ireland customers who think they have shared their banking details should call our 24/7Freephone line 1800 946 764 immediately.

Investment scams

Investment scams are everywhere these days. Fraudsters use social media ads and professional looking websites to lure you in with promises of quick, easy money. They often try to convince you to ‘start small’ and then show you how you can ‘make a larger profit’ by adding more money to your ‘investment’. They might even send you realistic-looking contracts or tell you that you can ‘log in’ to check your investment.

You might find these bogus firms online, when looking for cryptocurrency, bonds or other investment opportunities. Or you might read a story online where a celebrity seems to be promoting an investment. These stories are often fake.

• Be very suspicious of any offers that guarantee a return or a large profit.
• Do your research before making any investment.
• Make sure that the investment firm is regulated by checking the Central Bank of Ireland register (ROI) or the Financial Conduct Authority (UK) register. If a firm is not listed, do not invest with them.
• Check for published warning notices.
• Always seek independent advice.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Investment recovery scams

Lost money to an investment scam? Be wary of fake ‘recovery agents’ who promise to recover your stolen money for an upfront admin fee. These are often the same scammers who stole your money in the first place.

• Do not deal with anyone promising to get your funds back for a fee.
• Think - is this a genuine firm?
• Always seek independent advice.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Purchase scams

Fraudster are trying to lure people with false promises of a slashed price or bargain but, once the payment is made, the seller usually cuts all contact and the product or service never arrives. Purchase scams can be for relatively low value items such as clothes and concert tickets but also for high value items like cars. Fake adverts can be found on genuine sites or you may find an ad after seeing someone you know sharing it online or on social media.

• Research and read reviews to check the site and the seller are genuine.
• Be alert to vague product descriptions.
• Go directly to the online shopping site, by typing the web address into your web browser.
• Links in unsolicited emails or on social media are not always safe and should be avoided.
• Always view large purchases in person, prior to making full payment for them.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Hi Mum/Hi Dad scams

Fraudsters are sending fake messages pretending to be from a member of the family who has lost or damaged their phone and needs access to money. The messages usually start with “Hi Mum/Hi Dad, this is my temporary / new number..." followed by a request for money.

In some cases, the fraudster will ask for a payment to be made to a specific bank account. In other cases, they ask for a card number and then set the card up on a digital wallet – for example, Apple Pay or Google Pay – after asking Mum/Dad for the code that the bank just sent.

• If you get a text message with an unusual request from a child or family member, do not reply or click on any link.
• Instead, verify the identity of the sender by calling your family member using their usual phone number saved in your contacts, a number that you know.
• If you get a suspicious text, please email a screenshot of the text to 365Security@boi.com and then delete the text.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Rental & holiday scams

Rental and holiday accommodation scams trick people into paying rent for property that doesn’t exist or is not actually available to rent. These scams happen throughout the year, aimed at people booking holiday rentals abroad or at home, students looking for college accommodation and people looking to rent properties to live.

In some cases, fraudsters will say they’re out of the country and unable to meet you but will ask for money upfront or request a deposit to hold the property. There are even cases where fraudsters have hired properties to use for viewings to trick renters into handing over a deposit. They may even provide fake keys.

• Use established letting agencies.
• Be extra vigilant if you find the rental property online and not through an established letting agency.
• Always meet the landlord in the accommodation to be rented.
• Ask for identification from the landlord or letting agent such as a drivers licence.
• Get a second opinion from a trusted family member or friend.
• Ensure that the keys work before paying any deposit.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Invoice redirection scams

This scam (also known as payment redirection) involves fraudsters pretending to be a supplier or service provider for your business in order to trick you into changing bank account payee details. They contact you to tell you that their bank account details have changed and ask you to send all payments to a new account.

• If a supplier requests a change of payment details, verify the change by contacting a known contact in the organisation directly, using contact details held on record, or using a phone number displayed on the organisation’s official website.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Live chat remote access scam

Fraudsters are currently calling business customers pretending to be from Bank of Ireland. They are trying to get access to your computer, by pretending that you are connecting to a Live Chat service on a fake Bank of Ireland website.

The caller first asks you to log into your online banking as normal, then tells you to go to another new website address “for a live chat service” or “to verify your PC”, but in reality it allows the fraudster remote access to your computer. They can now see your screen and access all your files and programmes. The caller then sets up payments on your online banking and asks you to read out the one-time codes from the mobile app to approve the payments.

• If you get a call from someone who asks you to go to a website or to click on a link that they will send to you, just hang up.
• Never allow a caller to take remote access of your computer.
• If someone asks you for a one-time code from your online banking app, they are a fraudster. Never ever share those codes with anyone, even if they say they are from Bank of Ireland.
• Be very careful when logging on to online banking. The safest thing is to type in the website address yourself or to log in through the main Bank of Ireland website at bankofireland.com.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.

Pension Liberation

Purpose of Memo:

The Bank wishes to alert customers and members of the public to a scam that is currently active.

Detail:

Pension Liberation also known as ‘pension loans’ and ‘pension scam’ is a transfer of a scheme member’s pension savings to an arrangement that will allow them to access their funds before retirement age. But accessing pension savings before minimum pension age is only possible in rare cases, like terminal illness.

Pension Liberation can result in tax charges and penalties of more than half the value of a member’s pension savings, and those being targeted are usually not being told about the potential tax implications. This is in addition to high charges, typically 20 to 30% for entering into one of these arrangements and high risk investments for the remaining pension savings.

Warning signs:

• Unsolicited contact.
• Transfer of funds overseas.
• Attempts to access pension before retirement age.
• Copy of documentation has not been provided to member.
• Member encouraged to carry out transfer quickly.
• Receiving scheme not registered/newly registered with relevant Revenue authority.
• Member informed there is a legal loophole.

Action:

• Never give out financial or personal information to a cold caller;

• Check the credentials of the company and any advisers – who should be registered with the appropriate regulatory authority, e.g. the Financial Conduct Authority in the UK, or the Irish Pensions Board in RoI;

• Ask for a statement showing how your pension will be paid at retirement, and question who will look after your money until then;

• Speak to an adviser that is not associated with the deal you’ve been offered, for unbiased advice;

Never be rushed into agreeing to a pension transfer.

For further information on Pension Liberation see:

Share Fraud

Bank of Ireland reminds all shareholders to be vigilant to potential scams which are targeted at shareholders in Irish public companies.

Information on scams

So called “share fraud” scams are operated by fraudsters who contact shareholders unexpectedly and offer to buy their shares at prices higher than current market value. However, while they appear to offer high returns, those who invest usually end up losing their money.

These individuals often use high pressure sales tactics and tell shareholders that they need to make a quick decision or miss out on a deal which will give them a large return on their investment. The offer to purchase shares will likely come with a request for money up front as a bond or other form of security, which will be accompanied by a guarantee to pay back the money involved if the sale does not go ahead. This advance fee is part of the scam – shareholders are unlikely to hear from them again.

They will have accessed your name from publicly available shareholder lists. While cold calling is the most common form of contact, these people will also use email, post, face-to-face contact or will approach some shareholders at seminars.

Always be extremely careful and vigilant before buying or selling shares, especially if the contact is unsolicited. Be wary before releasing funds in advance of any positive proof of the validity of any offer.

Remember:

• Keep in mind that firms authorised by the Central Bank of Ireland or the UK’s Financial Conduct Authority are very unlikely to contact you out of the blue with an offer to buy or to sell shares.
• Always take a note of the name of the person and organisation that has contacted you and avoid getting into a conversation with them.
• Beware of fraudsters claiming to be from a firm which is authorised – they may copy its website or letterhead. If you are in doubt, use publicly available contact details to make contact with the firm directly to ascertain whether the communication is genuine.
• Check if the company or individual is on the list of authorised investment firms which is available from the Central Bank's website.
• Obtain independent advice from a qualified advisor or stockbroker.
• Do not provide bank details or arrange to transfer money if you are not absolutely sure of the identity and bona fides of the caller.
• Remember that at any time when you are uncomfortable with a conversation continuing, you can just hang up.

Bank of Ireland customers who think they may have fallen for a scam should call our 24/7 freephone line on 1800 946 764 immediately.

Stop, Think, Check. And together, we won’t let the fraudsters win.