Bank issues warning to shoppers over purchase scam increase in Northern Ireland

There has been a 27% increase in purchase scams in the region over the past 18 months

A bank has issued a warning to shoppers following an increase in purchase scams on social media.

The Bank of Ireland has made the warning saying there has been a 27% increase in purchase scams in the region over the past 18 months, with these now accounting for two out of every three incidents of fraud that have been reported.

Purchase scams describes incidents of fraud where fraudsters use social media to trick people into buying products or services that don’t actually exist or are not as they have been advertised.

READ MORE: Northern Ireland benefit scam warning as social media users offered ‘immediate money’READ MORE: NI warning over retail app hacking after four victims identified in one week

The bank has said that new research it has carried out as part of a fraud awareness campaign showed the concerns of NI consumers with regards to scams. This showed;

• 87% believe fraud is a big problem in society today
• In the last twelve months, 48% of 18-34 year old social media users have received fraudulent social media ads, accounts or messages and 39% have received fraudulent WhatsApp messages
• While almost 70% (or 69%) of consumers questioned are confident in their own ability to recognise fraudulent content on social media, 26% of social media users report falling for fraudulent social media ads
• Nearly half (47%) of 18-34 year olds are most concerned about their grandparents being scammed; 41% of 35-54 year olds are most concerned about parents being scammed and 40% of those aged 55+ are most concerned for their children
• When it comes to fraud prevention, 87% would be in favour of an SMS scam filter – which would help block scam messages before they reach a consumers phone.

Allison Ewing, Fraud Manager, Education & Awareness at Bank of Ireland said: “As the results from our research show, fewer than a quarter of consumers trust social media companies to protect users from fraud – the public need and deserve for these companies to do more. No company should profit from fraudulent activity.

Advertisement

“We continue to play our part in advocating for and protecting consumers from financial harm, reminding everyone to Stop, Think and Check before making a payment or sharing information, and I encourage anyone who thinks they may have been the victim of a scam to report it straight away to your bank – we’re here and ready to help.”

The Bank is also reminding customers that its dedicated fraud support team is available 24 hours a day, seven days a week throughout Christmas and New Year. Customers can contact the fraud team using Freephone line 0800 121 7790 or by dialling 159, the memorable short code number that connects consumers safely with their bank.

Detailed advice and information on how to stay safe from all types of financial fraud, including purchase scams is available at: Security and Fraud – Bank of Ireland UK website

For all the latest news, visit the Belfast Live homepage here and sign up to our daily newsletter