FraudSMART warns of rising bank impersonation scams, causing €6k-€8k losses per victim.

FraudSMART, an initiative by the Banking & Payments Federation Ireland, has alerted consumers to a rising scam involving fake text messages from fraudsters impersonating banks. Victims are misled into believing their accounts are compromised and are pressured to transfer money to a “safe account” controlled by scammers, resulting in losses of €6,000 to €8,000. The organization emphasizes not to respond to unsolicited communications and reminds that banks never request such transfers.

October 22, 2024
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