AIB warns customers after 59% jump in payment fraud cases

AIB has urged customers to be aware of scammers as payment fraud cases increased by 59% in July.

A growing number of people are being deceived into sending money, handing over security codes, bank cards and even cash.

Text messages and phone calls from criminals impersonating trusted organisations are also on the rise, according to the bank.

Scammers are using increasingly sophisticated techniques to gain people’s trust, the financial institution said, before persuading them to transfer funds or reveal security information.

AIB warned that customers often will receive a text claiming to be from a bank or trusted organisation that will be followed up with a phone call claiming to be a member of staff from the organisation.

The scam caller will try to create a sense of urgency to convince the person to act quickly and offer security codes or transfer funds to another account.

AIB advised customers to “wait a sec, double check” before acting on any unexpected request.

Head of Fraud Intelligence at AIB, Harold Perez, said: ‘‘We are seeing a notable increase in the number of customers being targeted in sophisticated text message and phone call scams.

“Fraudsters continue to adapt their tactics and are becoming increasingly convincing in the way they target customers.

“We are asking customers to “wait a sec, double check”, before acting on any unexpected request.

“A genuine organisation will never pressure you into making immediate decisions about your finances.”

Some fraudsters even persuade customers to withdraw money before arranging a collection point, according to AIB.

The bank said it will not ask customers to share security codes, passwords or login details, move money to a “safe account”, or to withdraw cash on their behalf.

Mr Perez warned that fraudsters are highly skilled at creating a sense of urgency and trust.

“Our advice is simple: take a second to think before acting. Never move money to a so-called safe account, never share security codes, and never hand over your card, PIN or cash to anyone claiming to be us.

“If you’re unsure, end the conversation and contact us directly using a trusted phone number. Taking a moment to pause could prevent significant financial loss,” he said.