Stay Safe Against Online Scams and Fraud

Online fraud is a major and rapidly growing problem in Ireland. The methods used by fraudsters are constantly evolving and increasingly sophisticated and they can target anyone, regardless of age or online experience.

Criminals use multiple channels from text messages, to phone calls, to social media and fake websites to trick people into giving them personal or financial information, transferring money to them or replying to unexpected communications from them.

Recent research from the Central Bank of Ireland* indicates that more than one in three adults (35%) in Ireland have experienced fraud and scams. These include online purchase scams, debit/credit card fraud, delivery impersonation and phishing.

These scams can appear very genuine and are very hard to spot and that’s why it’s so important to pause and take time to check.

In this article, we’ve outlined the common types of online fraud and how to protect yourself and stay safe.

Common Types of Online Fraud

Email Phishing involves fraudulent messages or malicious attachments to emails designed to look like trusted organisations or co-workers. Messages may appear to come from a bank, credit union, online retailer, delivery company or government department.

Smishing (SMS / text message phishing). A message might claim that a payment has failed, a parcel is awaiting delivery or an account requires urgent verification. It may contain a link to a fraudulent website.

Vishing (voice phishing) and involves using fraudulent phone calls to impersonate a trusted entity such as the ones mentioned above.  They may create a sense of urgency and ask for security codes, card details or a transfer of funds.

Impersonation fraud occurs when criminals pretend to be someone you know or trust. They may pose as a family member, employer, solicitor, public body or credit union employee.

Online shopping fraud includes fake websites, counterfeit goods, non-delivery scams and sellers who request payment outside a secure platform.

Warning Signs to Look Out For:

Be cautious if someone:

• Creates pressure by saying you must act immediately
• Requests your password, PIN, card details or one-time security code.
• Ask you to move money to a ‘safe account’.
• Sends an unexpected link or attachment.
• Offers guaranteed profits or an opportunity that seems too good to be true.
• Contacts you unexpectedly about a refund, prize, investment or a problem with your account.
• Asks you to approve a payment or login notification you did not initiate.

Remember that genuine companies and financial institutions, like First Tech Credit Union, will not ask for your username, password, PIN or security codes via a phone call, text or email. If you are unsure, end the call or message and contact the company or financial institution using a trusted phone number or official website – not the details supplied by the caller.

How to Protect Yourself

The best protection and the most important rule is: Stop, Think and Check. Unexpected urgency is a warning sign. Verify who is contacting you, use trusted contact details and never allow anyone to rush you into clicking links, revealing information or transferring money.

Core Digital Habits to Adopt:

• Think before you Act: If you receive an unexpected call, text or email, pause. NEVER click on links or share personal or financial information with anyone, including PINs or passwords.
• Protect your financial information: Use strong, unique passwords and enable two-factor authentication where possible. Never share passwords, PINs or one-time passcodes.
• Verify, Don’t Trust: Always independently check websites, senders and verify requests for money, even when they appear to come from someone you know.
• Keep Devices and Software Up to Date: Keep your phone, computer applications and antivirus software up to date. These security updates help protect from viruses by fixing bugs and vulnerabilities.
• Avoid Sensitive Tasks on Public Wi-Fi: Never check bank accounts, make online payments, or do other sensitive tasks while on public Wi-Fi; use mobile data (4G/5G) instead.

Simple actions help you stay one step ahead of the scammers! For more information on real-time scam alerts, visit www.fraudsmart.ie.

Be Informed, Be Alert, Be Secure - Be FraudSMART