The surge in phone scams comes just as the mobile industry is set to introduce a regulatory clampdown on fake senders
The bank says that the value of fraudulent payments has tripled in the first half of this year as waves of scam texts, known as ‘smishing’ and scam calls, called ‘vishing’, hit Irish phones.
The number of people falling victim to such scams has also risen, by 6pc.
The surge comes just as the phone industry is about to clamp down on scam texts in Ireland, with a new industry-wide, regulatory initiative set to mark unregistered calls as ‘likely scam’ when they arrive in Irish text message inboxes.
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AIB said that the top five phone scams are text message fraud, ‘safe account’ scams — where criminals pose as bank clerks — investment scams on websites, holiday scams and purchasing scams.
“Where customers are scammed, AIB deals sympathetically with them on a case-by-case basis,” said Mary McHale, AIB’s head of financial crime.
Research from Ireland’s telecoms regulator, Comreg, found about 365,000 cases of fraud per year as a result of scam calls and texts in Ireland, with 89 million “annoying or irritating” communications because of it.
It also estimates that around 5,000 businesses per annum are the victim of fraud after receiving scam calls and texts and that the annual cost of scam texts is €115m each year, rising to €300m per year when scam calls are counted.
Comreg says that it is still waiting for legislation from the government that’s needed to apply SMS ‘filter’ technology that could help in reducing private SMS text scamming.
However, more than 7,000 businesses and organisations that use mass-texting services have pre-registered with the telecoms regulator as part of a crackdown on SMS scam by Comreg.
From July 3rd, companies that use mass-texting services and that haven’t registered with the telecoms regulator will see their SMS texts to customers labelled as “likely scam”. From October, such texts will be blocked altogether.
The regulator’s SMS Sender ID registry system is aimed at those who use ‘Sender ID’ to attach a name to a mobile number, such as Bank Of Ireland or Amazon or An Post.
At present, scammers can fairly easily ‘spoof’ these names, which is why irish people get so many texts which appear to be from legitimate businesses and utilities but are not. In the worst cases, the spoofed SMS messages even appear in existing customer interaction conversations with the legitimate business.
The new system is designed to eliminate this kind of ‘spoofing’, so that from October, Irish consumers won’t receive fraudulent SMS text messages of this type. Comreg said that it is the mobile network operators that will ultimately block the texts, as they will have access to the register of legitimate Sender ID companies.
Comreg says that any companies or organisations that haven’t registered should do so now, to avoid their SMS messages being labelled or blocked.
However, the new initiative won’t apply to regular, private SMS numbers, meaning that a scammer who simply buys a sim card and sends out bulk SMS messages won’t be affected.
According to AIB’s report, the following categories represent the top five phone-related scams.
1. Text Message Fraud
“Text message fraud, also known as SMS phishing or smishing, continues to be a major threat and the crime that’s most commonly perpetrated by fraudsters. Scammers send convincing messages that appear to be from reputable sources, such as banks, delivery companies or Government agencies, tricking recipients into providing personal information or clicking on malicious links. Our advice is to never click a link in an unexpected text message or call the number provided. If in doubt contact the sender on a known and trusted number to verify its legitimacy. You should never provide log in details, security details such as one time passcodes, card reader codes or selfies.”
2. Safe Account Scams
“Safe account scams involve fraudsters posing as bank officials who call and inform victims that their accounts have been compromised. They then persuade victims to transfer their funds to a ‘safe’ account for protection, which is often their own account, and often in other financial institutions. The funds can then be moved onto a mule account. These safe accounts are, in fact, controlled by the scammers, resulting in the victims losing all transferred funds. We will never call you and ask you to move your money to a new account for safe keeping. If you receive a call like this, hang up immediately.”
3. Investment Scams
“Investment scams have surged in 2025, with perpetrators offering lucrative returns on fake investment opportunities. These scams often target individuals seeking to grow their savings quickly, using convincing pitches and professional-looking websites. Victims invest substantial amounts of money, only to realise later that the promised returns are non-existent and their funds have been stolen. Always ask yourself, is this too good to be true?”
4. Holiday Scams
“As we come into peak travel season, we have also seen a rise in holiday scams. Scammers create fake travel websites and offers, luring victims with attractive deals on flights and accommodation. Once payments are made, victims discover that their bookings are fraudulent and their dream holidays are ruined. These scams not only cause financial loss but also lead to immense disappointment and frustration. Always book your holidays through reputable providers, research accommodation to ensure it actually exists and don’t part with your money unless you are fully satisfied. These scams aren’t just advertising foreign holidays, but Irish ones too.”
5. Purchase Scams
“Shopping online can be convenient, but it also comes with several risks. One of the main concerns is the possibility of encountering fraudulent websites or sellers who may take your money without delivering the promised goods. Additionally, there’s the risk of your personal and financial information being stolen through phishing scams or insecure websites, leading to identity theft and financial loss. Another threat is the potential for receiving counterfeit or substandard products, which can be disappointing and harmful. To mitigate these risks, it’s essential to shop from reputable websites, use secure payment methods, and stay vigilant for any signs of suspicious activity. Always ask yourself, is this price too good to be true?”
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