Security and Fraud - Bank of Ireland UK

Online Security

Our online banking websites are encrypted to protect your information
They are also protected by a firewall (a barrier between the internet and our internal bank network)
A secure browser is needed to access account information and transact

Delayed Payment options

If you are making a bank transfer, you don’t have to send the payment immediately, you can schedule the payment for a later date & cancel it up until midnight the day before the payment is due to be sent by using the BOI app or 365 online. Scheduling a payment for a later date can give you time to think and speak to a trusted friend, family member or your bank before the money is sent.

Logging on and Timing out

When you log on to Bank of Ireland 365 online, we’ll ask you for:

A private and individual User ID
3 random digits from your 365 login PIN
A push notification will be sent to your registered mobile device or PSK asking you to approve the login, you will need to swipe to approve.

This information is encrypted and will stay private if you don’t disclose it.

For Business online customers, your last log on details will show when you log on. This means you’ll know if someone else has accessed your account online
If you’re inactive for a while, your online banking session will automatically time out after 5 minutes

Two Factor Authentication

You need a Two Factor Authentication to add or edit a payee on 365 online
We’ll text a code to your registered mobile phone, or send via post if you prefer

Protecting your business with Bank of Ireland Approve

Business On Line uses HID Approve. Approve has been developed by BOI’s chosen security partner HID Global, an industry leader in secure authentication solutions.
Approve generates unique, one-off Secure Codes you can use to log on to Business On Line and authorise payments and payees

Approve offers the following security benefits:

You need a PIN to generate Secure Code. A unique Secure Code is generated per transaction and expires when used, or after 60 seconds
Approve doesn’t store any information
Approve only works on your registered device, along with your corresponding Business On Line User ID
The app is registered to the individual User
The Business On Line Administrator can lock a User’s profile (for example, if the User go on holidays, etc.)

Report Fraud

Lost or stolen card?

As soon as you believe your card has been lost or stolen, please contact us as soon as possible via our Freephone numbers listed below. We’ll cancel your card as soon as you tell us it’s missing and get a new card issued to your address (the one we have on file for you) in 5 to 7 working days.

Fraud, suspicious activity or unauthorised transactions?

To report online fraud, suspicious activity, unauthorised transactions on your account or ATM fraud, please contact us as soon as possible via our Freephone numbers listed below.

Shared your online login details?

If you have shared your banking details in response to a suspicious email, text or call, please notify us as soon as possible via the Freephone numbers listed below.

Report a suspicious email or text

To report suspicious Bank of Ireland UK related emails or texts (both personal and business customers), send the suspicious email or text to 365security@boi.com

Emergency Contact Numbers

You can contact us 24 hours a day, 7 days a week on:

Calling from UK
Freephone: 0800 121 7790 (personal customers)
Freephone: 0800 032 1288 (Business On Line and Global Market Customers)
Calling from ROI
Freephone: 1800 946 764 (personal and business)
Calling from Overseas
Not Freephone: 00353 567 757 007

Please note: If we need to contact you about a potential fraud on your account, we will do this via a secure channel including, but not limited to, SMS or email.

Fraud prevention philosophy
What is our approach to fraud prevention?
Keeping customers’ accounts secure is a top priority for us, but it is also important for you to protect yourself from fraudsters. The safety of our colleagues and customers is always a top priority for the bank. Our Security teams work round the clock to ensure our bank is a safe place to work, with plans, processes and controls in place to protect our customer’s finances.
What controls do you have in place / How do we protect you?
Online Security
Our websites are encrypted to protect your information.
Please use a secure browser to access account information and transact.
Our websites are protected by a firewall (a barrier between the internet and our internal bank network).
When you log on to Bank of Ireland 365 online, we’ll ask you for:
- A private and individual User ID
- 3 random digits from your 365 login PIN
- A personal detail question
This information is encrypted and will stay private if you don’t disclose it.
Two factor authentication
- You need a Two Factor Authentication to add or edit a payee on 365 online
- We’ll text a code to your registered mobile phone, or send via post if you prefer
Protecting your business with Bank of Ireland award-winning* KeyCode. It has many features and benefits including:
- Unique, one-off codes you can use to log on to Business On Line and authorise payments and payees
- You need a secure PIN to access the KeyCode app. This One Time Code is generated per transaction and expires when used, or after 60 seconds
- KeyCode only works on your registered device, along with your corresponding Business On Line User ID
- The app is registered to one individual user.
Daily Control Limit
- The administrator and your relationship manager will set a Daily Control Limit (DCL) on your Business On Line profile
- This limit means your profile is less likely to be exposed to fraud.
Winner of ‘Best Information Security Initiatives (Corporate/Institutional)’ in Western Europe, Global Finance Best Digital Bank Awards 2017

Customer education and awareness

What do you do to educate your customers to ensure they are fully aware of the latest fraud trends / advice?
We reach our customers in several ways:
Online & Social Media
A wide range of Security and Fraud information is available within our Security Zone area on Bank of Ireland UK website. It’s specifically designed to highlight current scams and types of fraud along with measures you can take to help protect yourself.
We have information about Fraud Alerts on a range of topics including Data Breaches, Phishing, Money Mules, Boiler Room Scams, and CEO fraud.
We are supporters of the national Take Five campaign that offers straight forward and impartial advice to help everyone to protect themselves from preventable financial fraud.
Educational content is sent within statement emails and our members are provided with fraud prompts on the Internet Bank and Banking App.
We regularly post on the Social media platforms material concerning fraud.
We also provide general guidance on How to Protect Yourself Online with information about Anti-virus software, operating systems, browsers and firewalls.
Our ATMs carry fraud warnings particularly to guard against prying eyes when entering a PIN.
Branch
All our branches have fraud education material available and staff are trained to ask the right questions to help detect scams when processing payments. Branch colleagues are trained to identify fraud and victims of fraud, and provide bespoke advice including invocation of the Banking protocol. There are frequent communications delivered to branch colleagues raising the awareness of fraud and scams.
All Bank of Ireland UK colleagues have to complete annual mandatory training which covers a broad spectrum of fraud education.

Contact
How and when we would contact our customers
We will contact our customers using email, phone calls, text messages and by letter. Customers should always take the necessary precaution to ensure they are talking to who they think they are.
We also utilise various security controls and offer guidance for identifying malicious contact on our website.
Examples of the controls / guidance we offer include;
One-time passcodes – When we need to verify who you are, we’ll send a unique code to the mobile you gave us when you opened your account.
The text will state exactly what the code is for, like creating a new payee. You shouldn’t tell anyone what this code is other than a Bank ABC colleague. If someone asks for the code but for a different reason than is stated in the text message, you shouldn’t answer them.
If you get a one-time passcode message you’re not expecting, give us a call on 0345 309 8099
Text Alerts – If we notice something suspicious or need to get in touch with you, we may send you an alert either by email or text message.
While we may ask you to reply to messages, we’ll never:
- Include a link to a log in page
- Ask for your complete security number, password, or card number
- Ask you for answers to your security questions
If you’re not sure whether a text or email is genuine, give us a call on 0345 309 8099
How and when can our customers contact us regarding fraud/ fraud prevention?
If you believe you are a victim or fraud, or you require any fraud prevention advice customers can contact us 24 hours a day. Our contact numbers can be found here.

How we collaborate with the rest of the industry
Industry initiatives/ collaboration
- We are members of UK Finance and take an active part in all Industry Fraud initiatives.
- We are members of CIFAS – The UK Fraud Prevention Service.
- We contribute to the funding of the DCPCU. The DCPCU is a national police unit formed between the City of London Police, the Metropolitan Police Service, UK Finance and the Home Office.
- We share fraud intelligence with the rest of the banking industry and law enforcement to protect our customers.
- We are a signatory to the Take Five Charter which provides our customers with up to date advice on fraud prevention.
- We are a participant of the Banking Protocol which helps our customers from being targeted by fraudsters and rouge traders.
- We work with other banks to quickly recover fraudulent funds for our customers.

Summary

We are the Partnership Bank.
We provide simple, flexible, financial services to UK customers both directly and through partnerships with well-known UK brands. Technology is making it quicker and easier to stay on top of your finances wherever and whenever you want. As more of our customers choose to use new ways of banking such as phone, tablet or computer, we’re committed to keeping their accounts and information secure

Complete Banking Fraud Control Comparison Data

For the complete Banking Fraud Control Comparison Data, please click here.

Take Five to Stop Fraud
In the first half of 2022, criminals stole a total of £609.8 million through authorised and unauthorised fraud and scams. Banks prevented just under £584 million from being stolen. However, we can all help to lower financial loss from fraud by remembering to:

STOP – take a moment to STOP and think before parting with your money or information.

CHALLENGE – Could it be fake? It’s okay to reject, refuse or ignore requests. Only fraudsters will try to rush or panic you.

PROTECT – Contact your bank immediately if you think you’ve fallen victim to a scam & report it to Action Fraud on 0300 123 2040 or at www.actionfraud.police.uk.

If you receive a request to hand over (or do something with) personal or financial information, you need to take a moment to reflect and step back from the situation. Yes, even if they say they’re the bank, police or another trusted organisation, you still need to take the time to stop and think about what’s really going on.
Because deep down, you probably already know these basic rules on how to beat financial fraud – you just need to take a deep breath and stay calm enough to remember them.

Never disclose security details, such as your PIN or full banking password
Don’t assume an email or phone call is authentic
Don’t be rushed – a genuine organisation won’t mind waiting
Listen to your instincts – you know if something doesn’t feel right
Stay in control – don’t panic or make a decision you’ll regret

UK Finance educational material

Take Five to Stop Fraud

For more information on the Take Five to Stop Fraud campaign including general and business advice guidance please visit: https://takefive-stopfraud.org.uk/

UK Finance has worked in collaboration with the Met Police to create the Little Booklet of Investment Scams. The Little booklet of investment scams talks you through the current top eight investment scams, and gives advice on how you can protect yourself. To find out more click here to download the Little Booklet of Investment Scams.

Fraudsters may ask you to receive money into your bank account and transfer it into another account, keeping some of the cash for yourself. If you let this happen, you’re a money mule. You’re involved in money laundering, which is a crime.

You can be approached by fraudsters online or in person. They might post what looks like a genuine job ad, then ask for your bank details.

Once you become a money mule, it can be hard to stop. You could be physically attacked or threatened with violence if you don’t continue to let your account be used by criminals.

When you’re caught:

Your bank account will be closed.
You will find it hard to access further student loans.
It will be difficult to get a mobile phone contract.
You will have problems applying for credit.
You could go to prison for up to 14 years.

Students can become money mules unwittingly. They might think they’re giving out their bank details for a genuine reason, then end up involved in money mule fraud.

Don’t Be Fooled. Follow this advice:

Don’t give you bank account details to anyone unless you know and trust them.
Be cautious of unsolicited offers of easy money. If it sounds too good to be true, it probably is.
Research any company that makes you a job offer and make sure their contact details are genuine.
Be wary of job offers from overseas. It will be harder for you to find out if they are legitimate.
Be wary of job ads that are written in poor English, with grammatical errors and spelling mistakes.

For more information, visit the Money Mules website.

ROI customers – please click here

Business Banking fraud attack

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Fraudster tactics

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