Consumers warned of new 'direct debit' scam on the rise

Consumers are being warned about a new scam where fraudsters impersonate banks to trick people into believing their bank account has been compromised. FraudSMART, led by the Banking & Payments Federation Ireland (BPFI), reports that scammers are sending fake text messages, posing as banks, alerting recipients to a false "direct debit." These texts instruct recipients to call a phone number, which connects them directly to the scammers.

Once on the phone, the fraudsters convince victims their account is at risk and persuade them to transfer money to a "safe account" controlled by the scammers. Victims are often conned out of significant sums, typically between €6,000 and €8,000.

To protect yourself:

• Never respond to unsolicited texts or share personal or financial information.
• Always contact your bank using the number on the back of your debit or credit card.
• Avoid clicking on links in unexpected texts.
• If pressured over the phone, hang up and call your bank directly.

For more information, please see the full article linked here.