Online fraud incidents are up 50% with a warning that fraudsters are now using customers’ card details to set up Apple/Google Pay.
Bank of Ireland has reported a 50% increase in ‘smishing’ fraud cases
This has prompted Bank of Ireland to warn customers around a new wave of fraudulent text messages in circulation, where fraudsters are using customers’ card details to set up Apple/Google Pay.
The Bank has experienced a spike in ‘smishing’, where fraudsters send fake text messages appearing to be from delivery services including An Post or Government agencies including the HSE and Revenue.
Customers who click the links in the text messages are then directed to fake websites where they are asked for their card or online banking login details.
The fraudster uses these details to set up Apple/Google Pay on the customer’s card or to set up the customer’s online banking on a new device.
If the customer gives away the genuine One Time Passcode sent by Bank of Ireland to confirm the set-up, the fraudster can then access the customer’s account.
During the last month, the number of ‘smishing’ cases detected by Bank of Ireland’s Fraud Prevention team has increased by c. 50% since the introduction of this tactic.
How the current scam operates:
Customer receives a fraudulent text purportedly “from” An Post or alternatively HSE or Revenue – for example: “Your parcel is ready for delivery. Please pay the…
