When you add a new payee using Banking 365 we’ll ask you why you’re making this payment. We’ll then display a warning about different types of frauds associated with that payment – for that reason it’s really important you chose the right option.
You’ll also be given the option to cancel setting up the new payee – giving you chance to go and research the payee and check that you’re sending your money to the right person.
Why have you introduced these warnings?
Customers can fall victim to fraud and scams. Giving you information can help you make an informed decision about these scams and gives you time to fully research new payments you may want to make, and possibly avoid making a large payment that you’re not entirely sure about.
Some fraud watch-outs
- Bank of Ireland, Police or any legitimate organisation will never call and ask you to move funds to a “safe” account – if you’ve been contacted, no matter how convincing the caller seems, as soon as they ask you to move funds it’s a scam.
- Investments such as crypto-currencies may look attractive, especially if you’re not familiar with how they work. If someone wants to act as your “account manager” or you’re asked to download a screen-sharing programme, this will be a fraud – do not proceed
- You may be contacted by SMS or WhatsApp (or similar) by a friend or family member asking you to send money to pay an urgent bill – never send money without first speaking to your friend – no matter how convincing the story
Find out more about security and fraud here.
We encourage you to #Take Five by following the below steps:
- Never disclose security details, such as your PIN or full banking password
- Never download any software that means someone can view or control your device
- Don’t assume an email or phone call is authentic
- Don’t be rushed – a genuine organisation won’t mind waiting or you calling back
- 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.