Bank of Ireland is alerting customers to a recent surge in fraudulent text messages, where scammers are exploiting individuals’ card details to set up Apple and Google Pay accounts.
The bank has noted an increase in “smishing” incidents, where scammers send deceptive text messages that appear to come from delivery services like An Post or government agencies such as the HSE and Revenue. When customers click on links in these texts, they are directed to fraudulent websites where they are prompted to enter their card or online banking login information. The scammers then use this stolen information to configure Apple or Google Pay on the victim’s card or access the victim’s online banking from a different device. If the victim mistakenly shares the genuine One Time Passcode sent by Bank of Ireland to verify the setup, the fraudster can gain access to their account.
In the past month, cases of smishing detected by Bank of Ireland’s Fraud Prevention team have surged by approximately 50%, attributed to the emergence of this tactic. Edel McDermott, head of fraud at Bank of Ireland, stated, “Fraudsters tend to use a range of tactics that have been the subject of regular warnings for some time. When a new variation on a familiar theme arises, it is a cause for real concern, and we are urging customers to exercise heightened vigilance.”