“The reality is that everyone is a potential target” – why it’s important to understand fraud and scam prevention

Bank of Ireland UK is on a mission to protect customers from fraud through awareness and support

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Fraud and scams have sadly become a part of our daily lives. Whether it’s purchase scams or impersonations, consumers and businesses are increasingly being targeted by organised criminals, all with the same goal: to steal your money.

We spoke with Allison Ewing, Fraud Manager for Education & Awareness at Bank of Ireland UK, who explained how Bank of Ireland is helping protect its customers from fraud and why education and awareness around fraud should be a top priority today.

Allison Ewing, Fraud Manager for Education & Awareness at Bank of Ireland UK

A common misconception is that fraud only targets the vulnerable or elderly. However, as Allison shared, this is not always the case: “The reality is that everyone is a potential target, regardless of age or technical ability. Another mistake is that fraud or scams are easy to spot but they are becoming more sophisticated and highly convincing.”

While scams take many forms, Allison explained that the most common are purchase scams, impersonation (fraudsters posing as banks, government departments, or family members), and investment scams, which are often promoted on social media and tech platforms.

Bank of Ireland UK aims to prevent customers from falling prey to fraudsters through education and awareness, regularly engaging with communities through outreach events and providing practical prevention measures, online support, and resources.

Some of the steps they’ve taken include investing in fraud prevention services, tech systems, and upgrades to protect consumers and businesses, conducting ongoing fraud-awareness campaigns for customers and the public and maintaining active relationships with police and agencies to monitor threats.

Bank of Ireland UK employs over 200 colleagues who are dedicated to preventing, detecting, and investigating financial crime. The bank offers 24/7 phone support, enabling affected or suspicious customers to reach a Bank of Ireland UK team member directly. Beyond providing instant help, they have teamed up with Victim Support NI, acknowledging that fraud’s harm often extends beyond financial damage. Additionally, they prioritise education and prevention through a comprehensive consumer fraud awareness programme that teaches consumers how to safeguard their finances and personal information from fraudsters.

Bank of Ireland UK also launched a new social series, Fraud Watch: True Stories, featuring real stories of people who lost money to scammers. The series highlights different types of fraud to help educate people about the signs of scams and offers simple tips to help keep customers’ banking details safe.

At its core, Bank of Ireland UK aims to give customers the tools needed to protect themselves. “We focus on helping people recognise indications of fraud and helping them to protect themselves and their money,” Allison shared. “The impact has been very encouraging. Consumers are thankful for the information and always keen to share their stories to help others.”

“There have been many occasions where branch colleagues, thanks to their training and vigilance, noticed something not quite right with a customer’s story and have intervened to prevent money being transferred.”

Allison went further to explain how Bank of Ireland UK’s customers are being urged to Stop, Think and Check to help guard against fraudsters: “Our key message is Stop, Think, Check! Whether it’s a call, email, text or something on social media, just take a moment to question it. And if something feels off, report it!”

Source: Bank of Ireland UK

Stop, Think, Check provides practical ways to be on guard:

• Stop – Don’t trust social media ads or celebrity endorsements (scammers use fake ads and AI to convince fakes). Don’t take loans or credit for investments. Be patient, legitimate firms won’t rush you. Never share bank details, PINS, or passwords.
• Think – Be wary of companies or individuals who contact you unexpectedly with investment opportunities. Question their legitimacy, as financial criminals often use fake testimonies, registration numbers, or digital portals to deceive. Always verify authenticity and avoid offers that seem too good to be true. Maintain sole control of your digital wallets, because if you can’t access them or didn’t set them up, it’s likely a scam. Contact your bank immediately.
• Check – Do your research before investing: verify the firm or individual is registered on the FCA register, their permissions, and contact details match those listed. If not, it could be a scam. Always use the FCA contact info. Use FCA ScamSmart to avoid scams and consult a financial professional before investing.

Every year, the third week of November is recognised as International Fraud Awareness Week, emphasising the importance of detecting and preventing fraud. During this time, organisations worldwide, including the Bank of Ireland UK, are committing to raising awareness of fraud within their workplaces and communities.

“International Fraud Awareness week gives everyone in the industry the opportunity to work together to emphasise the importance of fraud awareness and vigilance,” Allison explained.

“Fraud prevention is a shared responsibility. While banks play a crucial role, consumer awareness and vigilance are equally important. The tech firms also have a part to play and must take accountability for the huge volume of scams that originate on social media.”

Allison added: “I encourage everyone to stay informed, talk to family and friends about scams and support others in recognising the signs. Stop, Think, Check and together we won’t let the fraudsters win.”

For more advice and information on fraud awareness, visit www.bankofirelanduk.com/help-and-support/security-and-fraud/.

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