The bank said text message fraud known as “smishing” accounted for 57pc of all payment fraud reported so far this year, making it the most common scam facing Irish consumers across 2025.
Criminals are increasingly impersonating trusted organisations, including banks, delivery companies and state bodies, sending convincing texts designed to panic people into acting quickly, AIB said.
Many of these scams lead to what AIB calls a “safe account” scam, where fraudsters pose as bank staff and claim that a customer’s account has been compromised.
Consumers should be wary of prices that appear too good to be true
Victims are then instructed to move their money into another account which is actually controlled by the scammers.
AIB said these scams are particularly effective in the run-up to Christmas, when people are distracted by work, family commitments, school events and last-minute shopping.
Investment scams were the second most prevalent type of fraud noted by the bank, it made up 8pc of reported cases.
This strategy typically involves fake investment opportunities linked to cryptocurrency, bonds or precious metals, with promises of high returns.
Romance scams accounted for 2pc of recorded fraud cases. This is when criminals create fake online identities, building emotional relationships over time and then asking victims to send money or personal details.
Shopping scams are also on the rise in the lead-up to Christmas. This type of scam typically involves cloned websites or fake social media ads offering heavily discounted products that never arrive.
AIB said consumers should stick to trusted retailers and be wary of prices that appear too good to be true.
Fraudsters are becoming more sophisticated and harder to spot, according to Mary McHale, the head of financial crime at AIB.
“Fraudsters are constantly adapting their methods, making scams harder to spot than ever before.
“The best defence is awareness, knowing what to look for and taking a moment to weigh it up. Double checking before acting can make all the difference. Ask yourself if this could be a scam?
“You may be busy this festive season, but always take the time to check. It could save you tens of thousands of euro, and could be the difference between a merry Christmas and a broke one,” Ms McHale said.
The figures are based on AIB research from customer data between January to October 2025.
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