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Bank of Ireland to refund customers after fraudulent ‘smishing’ campaign hit accounts

Bank of Ireland will reimburse customers hit by a cyber fraud that dropped fake texts into genuine interactions between the bank and account holders.

The bank said it is launching a fraud awareness campaign highlighting tactics deployed by criminals to trick customers into providing their banking details. It will also reimburse customers identified as being impacted by a targeted text ‘smishing’ campaign – which dropped fraudulent texts into the genuine Bank of Ireland text thread – which has been active during Covid-19.

The nationwide fraud awareness campaign will advise customers on how to protect themselves from fraud including through text ‘smishing’ attacks.

So called ‘smishing’ is serious criminal activity which targets customers of a range of institutions around the world – including banks, postal authorities, social welfare payments, and tax collection.

Fraudsters gain access to confidential information then move quickly to extract funds.

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