Fraud is constantly evolving and sadly, fraud attacks have now become part of our everyday lives. Many of us receive at least one fraudulent text, email or phone call a month, so it’s important that we look after our financial wellbeing by knowing how to protect ourselves from fraud scams.
Our new social series, Fraud Watch: True Crime Stories zones in on different types of fraud to help you recognise the signs that something is not what it seems. We give you easy to follow tips to keep you and your banking details safe.
Remember, always Stop, Think, Check. And together, we won’t let the fraudsters win.
Story 1: Smishing - Motorway toll scam
Always be wary of demands for payment by text, especially those that say “requires urgent action”.
Stop, Think, Check
Never click on suspicious links or share your banking details, including your full online banking PIN, or other personal information if requested via text message.
Story 2: Investment Scams
The need for secrecy...investment scam fraudsters try to isolate their victims by warning them not to talk to family and friends about their “investment”, for fear that their family or friends would intervene and stop the victim from transferring money.
Stop, Think, Check
Using a trusted source, like your local branch advisor, is still your safest option when it comes to investing.
Story 3: Purchasing Scams
Our human senses are finetuned to make judgement calls in the real world but it’s hard to do this online.
Stop, Think, Check
Only buy from reputable retailers. If it’s not a well-known shopping site, do some research. Look for independent reviews on other websites, rather than trusting testimonials on the site itself.
Story 4: Invoice Redirection
Invoice redirection fraudsters use trusted relationships as a point of attack and can extract information from emails.
Stop, Think, Check
Always verify payment change requests by contacting a known contact in the company directly, using contact details held on record, or by using a phone number displayed on the company’s website. Links or contact details contained in the email or letter requesting the change could be fraudulent. Don’t use them.
Story 5: Accommodation Scams
Ireland’s scarcity of accommodation can make people desperate to find a solution. Fraudsters target this vulnerability to stage their attack.
Stop, Think, Check
Only use established letting agents. Always meet the landlord in the accommodation to be rented and ask for ID such as a drivers licence. Remember, if it sounds too good to be true, it probably is!