During January and February 2025, there was a significant rise in phone call-related fraud, known as voice phishing (vishing), with incidents increasing by 79% compared to the same period the previous year, reports Breaking News.
Fraudsters are increasingly using phone calls to deceive unsuspecting individuals, often pretending to represent trusted companies or financial institutions.
According to AIB, common tactics used in these scams include offering a refund, claiming to stop a fraudulent transaction, or stating they need to fix an issue with your broadband, reports Breaking News.
Scammers may ask victims to download software onto their devices or visit a so-called ‘secure’ website.
By following the caller’s instructions, individuals inadvertently grant the fraudsters control over their devices, and by providing security codes, they give access to their accounts, allowing money to be stolen.
AIB emphasized the importance of businesses being aware of the risks associated with phone call scams. Employees responsible for managing company accounts should be informed about the dangers of sharing sensitive information or downloading software, reports Breaking News.
One of AIB’s business customers, who chose to remain anonymous, recently fell victim to a vishing scam and shared their experience to warn others.
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On February 17th, the business received a call on its landline. The caller, identifying himself as Gavin from AIB’s fraud team, claimed that two payments were about to be deducted from the customer’s account, reports Breaking News.
To make the situation seem legitimate, Gavin provided specific amounts and reference numbers for the transactions.
When the customer stated that they had not authorized these payments, ‘Gavin’ responded with urgency, assuring them that he could cancel the transactions but needed them to access a secure webchat facility.
He stressed that this was necessary for their security and that immediate action was required, reports Breaking News.
The customer was instructed to open their web browser and enter a specific web address.
Acting in fear that their account was being compromised, the customer followed the instructions and unknowingly accessed a fraudulent AIB website.
Unbeknownst to them, the website contained software that gave ‘Gavin’ access to their PC. The customer also provided security codes over the phone, which enabled a fraudulent payment of €41,000 to be processed, reports Breaking News.
Gavin then contacted AIB’s Customer Engagement Centre, impersonating the customer and requesting that the payment be approved without delay.
However, an AIB staff member quickly recognized something was amiss, terminated the call, and immediately reached out to the real customer.
Although this particular case had a positive resolution, that is not always the outcome. Customers should remain vigilant to protect both their personal and financial information, reports Breaking News.
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