Older People Prime Targets for Financial Fraud
- FraudSMART Teams Up with Age Action for Awareness Campaign for Older People
- Increased Reports of ‘Vishing’ Phone Scams
FraudSMART, a fraud awareness initiative established by Banking & Payments Federation Ireland (BPFI), has teamed up with Age Action to raise awareness of the types of fraud and scams that older people are being targeted with. In particular, The Garda National Economic Crime Bureau recently highlighted an increase in reports of ‘vishing’ phone scams.
‘Vishing’ is a sophisticated phone scam where a person receives a call from someone claiming to be from their bank, telling them that there is an issue with their account and requesting certain details be shared to rectify the issue. This can ultimately lead to a loss of funds from the person’s account.
To combat the threat of this and other scams, FraudSMART has teamed up with Age Action, Ireland’s leading advocacy organisation for older people, to roll out an awareness campaign and to provide older people with helpful tips and advice on how best to protect themselves from becoming a potential victim of fraud.
As part of the education and awareness programme, FraudSMART and Age Action are urging people to protect themselves using three simple ABC steps:
Always be alert to unexpected calls. Do not give personal/financial information.
Bide your time. Tell the caller you will need to verify their identity and take the time to do so.
Contact. Check in with your bank by calling the number on the back of your bank card.
Cards with the ABC steps will be available in Age Action shops across the country. In addition, a series of articles with advice on how people can protect themselves from financial fraud will be published in the bimonthly Ageing Matters magazine.
Speaking on behalf of FraudSMART, Niamh Davenport said: “We are delighted to be working in partnership with Age Action in the rollout of this awareness campaign. Fraudsters are operating ever more sophisticated techniques and we need to be one step ahead by educating and empowering people with the right information and advice so they are protected.”
Commenting on the issue of fraud against older people, John Church, CEO at Age Action said: “We would encourage older people to follow the ABC steps and be wary of any unsolicited calls asking for banking details. Fraudsters will attempt to create a sense of urgency, but we would advise people to take their time, not be rushed and contact their bank directly.”
For more information on common fraud and tips for protecting yourself, visit www.fraudSMART.ie where you can find a host of information, resources and can sign up for fraud alerts.
FraudSMART is a fraud awareness initiative developed by Banking & Payments Federation Ireland (BPFI) in conjunction with the following member banks, Allied Irish Bank plc, Bank of Ireland, KBC Bank Ireland, PermanentTSB and Ulster Bank.
Launched in October 2017, the campaign aims to raise consumer and business awareness of the latest financial fraud activity and trends and provide simple and impartial advice on how best they can protect themselves and their resources.
For further information on the FraudSMART campaign, please contact info@FraudSmart.ie
Banking & Payments Federation Ireland (BPFI) is the voice of banking and payments in Ireland. Representing over 70 domestic and international member institutions, we mobilise the sector’s collective resources and insights to deliver value and benefit to members, enabling them to build competitive sustainable businesses which support customers, the economy and society.
About Age Action:
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For further information:
Killian Keys, Wilson Hartnell
Tel: 01 669 0030 or 086-1024302