As the popularity of online shopping soars, people are becoming increasingly afraid they will be targeted by fraudsters operating in the virtual world.
A new study from Bank of Ireland suggests 62 per cent of consumers are worried about being targeted by online scam artists, with 43 per cent saying they feel more exposed to such threats because they are spending more time online due to Covid-19.
The survey also found 58 per cent of consumers say they will shop more online this Christmas compared to last year, with nine in 10 people now banking or shopping online.
The research also suggests cash is no longer king, with 80 per cent of consumers opting to use debit and credit cards instead of physical money during the pandemic.
Some 55 per cent of consumers indicated they had received a fraudulent email, text message or call claiming to be from their bank in the past.
The research also found that 66 per cent of people believe they know the kind of tactics used by fraudsters in attempting to steal their money while 95 per cent said they would have little or no trust in a text message or email supposedly from their bank containing a link requesting them to login to internet banking.
However that still means one in 20 people would not be so sceptical.
The study of 1,000 consumers was carried out as part of what Bank of Ireland said was "the most extensive public awareness campaign on fraud by any bank in Ireland".
TV personality
The campaign hopes to use the appeal of TV personality Baz Ashmawy on campaigns across TV, radio and social media to remind consumers to be alert for potential fraud.
The chief executive of Bank of Ireland's retail arm Gavin Kelly said that as a result of Covid-19 and the increased reliance on technology for work, keeping in touch with people, and shopping, people were "more susceptible to fraud".
He said Level 5 restrictions had forced many retail outlets to shut until the beginning of next month which would see online activity “spike even further in the coming weeks”.
He said fraudsters “target customers of banks, utility companies, postal, taxation and social welfare services and other organisations. They are active day in, day out, 24/7. We see the stress it causes for consumers and businesses on an ongoing basis.”
