In CEO fraud, a fraudster sends an email pretending to be from the CEO or another senior staff member of your organisation. They ask you to make an urgent payment. The CEO’s email may have been hacked. Alternatively, the fraudster might use an address that looks similar. They ask you to make an urgent payment to new bank details or ask you to buy gift vouchers.
What to look out for
- The fraudster’s email is designed to pressurise you into acting quickly. They want you to act before thinking.
- The email says that the CEO will not be available for the next number of hours or days. They claim they are running to a meeting or catching a flight. You must make the payment immediately.
- They usually include the payee details, including the IBAN.
- Alternatively, the fraudster may tell you to buy gift vouchers. They then ask you to share the voucher information with them.
What you can do
- Be sceptical of urgent requests that seem out of course.
- Always check that the email is from the real sender. Call them on a trusted number, before doing anything.
- Think about how your business issues and accepts payment instructions. Email is not considered a secure means of communication, unless encrypted.
- Consider adding a warning to your payment screen, if you’re an online retailer. Something like:
“Be scam aware. If you’ve been asked to buy a gift on someone else’s behalf, you may be getting scammed. Always verify before you buy”.
Report fraud
Please get in touch with us if you:
- shared your online login, card or banking details in response to a suspicious call, text or email;
- believe your card has been lost or stolen (top tip – if you think you might have just misplaced your card, you can temporarily freeze/unfreeze it via the app or 365 online);
- notice suspicious activity or unauthorised transactions on your account;
- need to report online or ATM fraud.
Emergency Contact Numbers
Available 24 hours 7 days a week
Republic of Ireland
Freephone: 1800 946 764 (personal and business)
Great Britain & Northern Ireland
Freephone: 0800 121 7790 (personal and business)
Everywhere outside Republic of Ireland, Great Britain & Northern Ireland
Not Freephone + 353 1 679 8993
Not Freephone + 353 56 775 7007 (Lost/Stolen cards or smart device)
Report a suspicious email or text
To report suspicious Bank of Ireland related emails or texts (both personal and business customers), send the suspicious email or text to 365security@boi.com or click here now