Phone fraud has exploded by almost 300% in Ireland, with AIB reporting a dramatic surge in vishing and smishing scams targeting customers’ personal information and bank details.
The bank’s latest Fraud Trend report shows a 297% increase in phone call and text message fraud reports between January and May compared to the same period last year. Customer victims of these scams also rose by 6%.
Vishing involves criminals using phone calls to impersonate banks or government agencies, while smishing uses deceptive text messages to trick people into revealing sensitive information or clicking malicious links.
AIB identified five major fraud types currently targeting customers. Text message fraud remains the most common threat, with scammers sending messages appearing to be from reputable sources. Safe account scams involve fraudsters posing as bank officials who convince victims to transfer money to supposedly secure accounts controlled by criminals.
Investment scams have surged, offering fake lucrative returns through professional-looking websites. Holiday scams are increasing during travel season, with fraudulent booking sites stealing payments for non-existent accommodation. Online purchase scams involve fake sellers taking money without delivering goods.
Mary McHale, AIB Head of Financial Crime, urged customers to “take a moment to ask yourself, could this be a scam?” She emphasized that banks never ask customers to move money for safekeeping and reminded people that AIB’s fraud helpline operates 24/7.