PTSB’s latest issue of Reflecting Ireland shows that over 7 in 10 (71%) have ever experienced an attempted financial fraud.
Learn how to keep your money safe with these 6 tips from Claire Cogan of BehaviourWise and PTSB.
1. Check out fraudsmart.ie
Check out the fraudsmart website, developed by the Banking and Payments Federation of Ireland in collaboration with member banks. It issues alerts on the latest scams operating in Ireland, and tips on how to protect yourself against them.
Sign up to receive alerts in real time as new financial scams emerge. Watch videos to learn more about specific categories like online shopping fraud, phone scams or fraud targeting elderly people.
FraudSMART supports both individuals and businesses. There is a dedicated section for Small and Medium Enterprises (SMEs), increasingly a key target for fraudsters.
2. If tempted, take the safe test
The SAFE test developed by the Central Bank of Ireland involves 4 steps:
- STOP, think and ask yourself what is being offered and who is behind it.
- ASSESS the information you are being given. Check with the Central Bank if a firm that contacts you is authorised. Even if they are, check they are genuinely who they say they are. Never provide personal information or send money until you are sure they are authorised and genuine.
- FACT-CHECK the offer.
- EXPOSE AND REPORT financial fraudsters to the Central Bank on 01-22 45 800 or the Gardai.
To learn more about the SAFE test visit the Central Bank of Ireland’s website, or watch this video.
3. Check the link before buying online
Developed by Cyber Skills in partnership with An Garda Síochána and ScamAdviser, CheckMyLink is an easy-to-use online tool to check if websites, including online retail websites, are authentic and safe to use. Simply click on the link below and type in the name of the website:
Always ensure any online retail website you use displays the locked padlock icon on the left hand side of the web address.
4. Protect yourself against card skimming
The latest Reflecting Ireland research shows skimmed card data is the most effective method of fraudulently accessing people’s money. Almost half of those exposed to it fall victim, well ahead of other fraud types. To protect yourself against it, think SCAN:
- SHIELD your PIN when inputting it into a point-of-sale device or ATM.
- CHANGE your PIN regularly.
- ASSESS any point-of-sale device or ATM for signs of tampering or suspicious attachments.
- NEVER write down your PIN or disclose it to anyone.
As an additional precaution, choose indoor ATMs over outdoor where possible, keep your card in sight when paying for goods and services, and keep an eye on your bank statements to spot any dubious transactions.
5. Be an AD sceptic (especially if you’re under 25!)
Reflecting Ireland research shows young people are more likely to become victims of financial fraud. Young people spend more time online and are more likely to come across online and social media ads designed to entice them, promoting everything from lucrative investment opportunities, job opportunities, event tickets, lottery tickets and places to rent, to friendship and romance.
Pause when you see an ad that seems to be too good to be true. Ask yourself where it is from and what the motivation behind it is. Be especially wary if asked to pay an up-front fee or to share personal information. Don’t share personal information like your name, address, phone number or bank account details unless you are absolutely sure who you are dealing with.
6. Opt-in to tech support
Opt-in to banking app features offering an extra layer of anti-fraud protection, such as PTSB Protect. This new opt-in feature offers much needed protection against criminals who trick customers into sharing security information by sending deceptive messages with links – something PTSB will never do.
