AIB reports a 59% rise in payment fraud cases in July, highlighting increasingly convincing scams that pressure customers into revealing sensitive information or transferring funds, with criminals employing tactics like fake texts, impersonation, and urgency.
AIB has warned customers to stay alert after payment fraud cases rose 59% in July, underscoring a wider pattern of increasingly convincing scams that rely on pressure, impersonation and speed. The lender said victims are being persuaded to hand over security codes, bank cards, cash and, in some cases, to transfer money to accounts controlled by criminals.
According to AIB, many of the latest attempts begin with a text message that appears to come from a bank or other trusted body, followed by a phone call from someone claiming to be staff. The fraudster then creates a sense of urgency, urging the customer to act immediately, reveal sensitive information or move funds. Harold Perez, AIB’s head of fraud intelligence, said fraudsters are becoming more sophisticated and warned that genuine organisations would never pressure customers into instant decisions about their finances.
The warning fits a broader run of fraud alerts from the bank this year. In February, AIB said scammers were posing as financial advisers and companies, using fake websites, documents and celebrity endorsements to promote bogus investment opportunities. By June, the bank said it had intervened to remove thousands of fraudulent domains linked to fake investment advertisements and scam websites, showing how quickly criminals are moving online and across social media to target would-be investors.
AIB also said some victims are being persuaded to withdraw cash and hand it over at a collection point, a tactic designed to make recovery more difficult. The bank stressed that it will never ask customers to share passwords, PINs, login details or security codes, nor to move money to a “safe account”. Its advice was blunt: pause, verify through a trusted number and end the conversation if anything feels wrong.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
