BANK of Ireland UK has now formally joined the 159 initiative, a cross-border service that offers a direct line to shield customers from financial fraud.
Since the pandemic, fraud cases have skyrocketed in both Ireland and Britain, according to government statistics.
The National Crime Agency (NCA) also confirmed in a recent statement that ‘the fraud threat to individuals and businesses has increased from 2023’.
This new initiative aims to help; instead of risking a chat with a possible scammer, people can directly connect to their bank's fraud team by dialling 159 and hanging up the phone.
Normally a scammer, posing as a bank employee, tries to gain a victim's trust, with the ultimate goal of finding out information that will allow them account access.
Allison Ewing, who oversees Fraud Education and Awareness at Bank of Ireland UK, highlighted the danger of these impersonation schemes.
Ms Ewing said that people shouldn’t feel under pressure to respond urgently on the phone.
The best course of action if there is any doubt is to hang up and contact the bank by calling 159.
She also emphasised that the Bank of Ireland would never request that clients transfer money to a supposedly "safe account" or reveal their entire PIN.
Bank of Ireland is also collaborating with Stop Scams UK in supporting the 159 initiative.
Mark Tierney, CEO of Stop Scams UK, welcomed the news and commended Bank of Ireland UK for stepping up and strengthening the joint effort to combat financial crime.
Such collaborations, he said, are ‘crucial to creating a powerful, unified front that safeguards consumers nationwide’.
Scammers frequently use urgency and confusion to quickly coerce information out of people, but 159 gives people the chance to take a breath and double-check who they're actually talking to.
See More: 159, Allison Ewing, Bank Fraud, Bank Of Ireland
