Phone fraud or vishing activity up by almost 300%

Phone fraud or vishing activity jumped almost 300% between January and May, new data shows.

The latest Fraud Trend report from AIB reveals a 6% rise in customers falling victim to smishing or vishing scams.

These typically involve phone calls that often follow after a customer responds to a fraudulent text message.

Meanwhile losses associated with customers compromising their login details are up 67%.

“We are continuously investing to enhance our fraud monitoring systems in response to new and existing fraud trends,” said Mary McHale, AIB Head of Financial Crime.

“Our fraud helpline is open 24/7, seven days a week to support our customers when they need us.

“We also work closely with industry stakeholders including telecommunications companies, the Banking and Payments Federation of Ireland (BPFI), and the Gardaí to detect and report fraud trends, as it’s only by communicating and coordinating across the whole of society that together we can be effective in combating these criminals,” she added.

Top 5 frauds

AIB has outlined the five most common scams fraudsters have carried out to fool people into handing over access to their money from April to June 2025, as well as how to protect yourself and your money from them.

1. Text Message Fraud

Text message fraud, also known as SMS phishing or smishing, continues to be a major threat and the crime that’s most commonly perpetrated by fraudsters. Scammers send convincing messages that appear to be from reputable sources, such as banks, delivery companies or Government agencies, tricking recipients into providing personal information or clicking on malicious links. Our advice is to never click a link in an unexpected text message or call the number provided. If in doubt contact the sender on a known and trusted number to verify its legitimacy. You should never provide log in details, security details such as one time passcodes, card reader codes or selfies.

2. Safe Account Scams

Safe account scams involve fraudsters posing as bank officials who call and inform victims that their accounts have been compromised. They then persuade victims to transfer their funds to a ‘safe’ account for protection, which is often their own account, and often in other financial institutions. The funds can then be moved onto a mule account. These safe accounts are, in fact, controlled by the scammers, resulting in the victims losing all transferred funds. We will never call you and ask you to move your money to a new account for safe keeping. If you receive a call like this, hang up immediately.

3. Investment Scams

Investment scams have surged in 2025, with perpetrators offering lucrative returns on fake investment opportunities. These scams often target individuals seeking to grow their savings quickly, using convincing pitches and professional-looking websites. Victims invest substantial amounts of money, only to realise later that the promised returns are non-existent and their funds have been stolen. Always ask yourself, is this too good to be true?

4. Holiday Scams

As we come into peak travel season, we have also seen a rise in holiday scams. Scammers create fake travel websites and offers, luring victims with attractive deals on flights and accommodation. Once payments are made, victims discover that their bookings are fraudulent and their dream holidays are ruined. These scams not only cause financial loss but also lead to immense disappointment and frustration. Always book your holidays through reputable providers, research accommodation to ensure it actually exists and don’t part with your money unless you are fully satisfied.These scams aren’t just advertising foreign holidays, but Irish ones too.

5. Purchase Scams

Shopping online can be convenient, but it also comes with several risks. One of the main concerns is the possibility of encountering fraudulent websites or sellers who may take your money without delivering the promised goods. Additionally, there’s the risk of your personal and financial information being stolen through phishing scams or insecure websites, leading to identity theft and financial loss. Another threat is the potential for receiving counterfeit or substandard products, which can be disappointing and harmful. To mitigate these risks, it’s essential to shop from reputable websites, use secure payment methods, and stay vigilant for any signs of suspicious activity. Always ask yourself, is this price too good to be true?