Raisin issues scam warning over ‘physical letter’

Raisin has issued a warning to businesses and its customers in Ireland over what the bank calls a “physical letter” claiming to come from Raisin that is “fake”.

The German fintech said the letter is “currently circulating in the Irish marketplace”.

The letter – purporting to come from Raisin – specifically targets businesses, offering them exceptionally high savings rates (above 7.5%) for investments.

Such rates would be more than double the best available rates actually available for savers using Raisin and well above the best rates for savers in Ireland.

Raisin said the fake documentation was “not issued or authorised” by the company and it advises any businesses receiving it to “not respond, engage, transfer money or disclose personal, business or banking information”.

The bank said it has alerted the “necessary authorities” to the situation.

Country Head Ireland at Raisin Eoghan O’Hara said the “fake” letter is “an attempt to deceive the Irish public and businesses by misusing the Raisin name.

“Do not act on this correspondence. Do not use the contact details or payment instructions it contains. Verify any approach independently through official channels,” Mr O’Hara added.

Raisin has also urged businesses to warn their finance teams and anyone responsible for authorising payments of the fake documents.

It added that any such letters, documents, etc. can be checked on the Raisin website to see if they are genuine.

Anyone who may have transferred money to scammers or disclosed banking information to them is advised to contact their bank right away to report the incident.