Business Editor
The banking industry here has warned consumers to be on the lookout for an
expected rise in online fraud and scam attempts that try to take advantage of
the circumstances around the Covid-19 crisis.
The Banking and Payments Federation Ireland (BPFI) FraudSMART campaign says
people need to be extra vigilant, take their time to do relevant checks and
always report suspicious activity to their bank or local Garda station
immediately.
It follows a rise in fraud and scam attempts under the cover of the Covid-19
pandemic in other countries, including the UK.
The warning comes as new figures from the BPFI show that overall card fraud
across the banking industry reached â¬12m in the first half of 2019.
"In the coming weeks and months we believe that there will be significant
attempts at fraudulent activity around Covid-19 related scams with the
potential for substantial losses as fraudsters seek to capitalise on the
heightened anxieties of the public during the current crisis," said Brian
Hayes, chief executive of the BPFI.
"With a range of financial and other Covid-19 supports now available for
impacted consumers and business we anticipate that fraudsters will target
victims via email, text, phone and social media by posing as genuine
organisations including government, banks and health care providers in an
attempt to get victims to disclose personal or financial information."
Already there have been cases of fraudsters trying to take advantage of the new
Covid-19 Pandemic Unemployment Payment by posing as officials asking for
financial details to process this payment.
With many people turning to online shopping due to the restrictions on
movement, the risks there have also increased, according to the BPFI.
Around 80% of card fraud involved online shopping with the remainder taking
place when using a card in store.
Many of the examples of the types of fraud attempts circulating online in the
UK at the moment are focused on online shopping, including scams where people
have ordered protective face masks, hand sanitiser, and other products, which
have never arrived.
One victim reported losing over £15,000 when they purchased face masks that
were never delivered.
Over 200 reports of coronavirus-themed phishing emails have also been reported,
including messages purporting to be from a research group that mimic the Centre
for Disease Control and Prevention (CDC) and World Health Organisation (WHO)
These attempt to trick people into opening malicious attachments which could
lead to fraudsters stealing people's personal information, email logins and
passwords and banking details.
According to the UK's National Fraud Intelligence Bureau (NFIB) there have been
105 reports of Covid-19 related since 1st February 2020, with total losses
reaching nearly £970,000.
The BPFI says people should be aware of emails, online requests, and online
advertisements offering Covid-19 related tests and products purporting to be
vaccines or cures.
They should also always independently check websites or dial the phone number
of the company using their website and beware of unsolicited emails asking for
personal details or asking the reader to click on a link. The advice has been
echoed by Bank of Ireland, which said today to its customers to remain vigilant
for online fraud, particularly during the pandemic.
"With large numbers of people working remotely and more people generally
conducting their daily business online, fraudsters may use this as an
opportunity to pull off successful scams," it said.
"Bank of Ireland is urging customers to be wary of newly created fake websites,
and not to respond to bogus SMS text messages seeking their personal details."
It said some of the scams currently in circulation include:
* Fraudulent WhatsApp messages offering "banking advice"
* Suspicious social media posts linking back to fake websites
* Requests to dial high cost phone lines operating as advice centres
* Calls from fake medical or charitable organisations asking for urgent money
transfers
* Suspicious emails or texts asking for personal details or linking to fake
websites
Website:
www.rte.ie/business
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