Allied Irish Bank (AIB) is advising customers to stay alert against rising fraud risks, especially during the holiday season when many relax their vigilance. The bank has identified the top five fraudulent tactics prevalent in 2024, urging consumers to take proactive steps to protect themselves.

One key method is the use of money mules, where criminals recruit individuals to transfer stolen funds, often masking activities like online scams or trafficking. Criminals also deploy purchase scams, cloning genuine websites to lure shoppers with fake discounts, especially during busy times like Christmas. Customers should verify the legitimacy of websites by checking for the padlock symbol, confirming contact details, and avoiding direct transfers. Investment fraud is another prevalent scheme, with scammers promoting fake high-return opportunities through social media ads. AIB recommends thoroughly researching investment providers and seeking independent advice before committing funds. Additionally, phone call fraud and text message fraud remain widespread, with scammers impersonating trusted organizations to extract personal information or financial details. "Smishing" incidents—fraudulent texts often followed by calls—accounted for a significant 94% of fraud cases reported from January to October 2024.

Mary McHale, AIB’s head of financial crime, stresses the importance of staying vigilant, particularly during the holidays. AIB will never ask customers for security codes, physical cards, PINs, or personal images via text or calls. If someone claims to be from the bank and requests such information, customers should end the conversation immediately. McHale emphasized that AIB is committed to protecting customers by enhancing fraud monitoring systems, educating the public through digital channels, and collaborating with industry partners like telecommunications companies and law enforcement. By working together, society can take meaningful steps to combat fraud and safeguard personal finances.