Bank of Ireland warns of rise in impersonation scams as Nigeria reports surge in digital banking fraud

Bank of Ireland has alerted customers to a sharp increase in bank‑impersonation text scams, urging recipients to verify any message by contacting the bank through a trusted number and to avoid clicking links or sharing details. The fraudsters mimic official communications about a “suspicious” or declined transaction and pressure victims to call a fraudulent number, often directing money to a “safe account”. Nicola Sadlier, Head of Fraud at the bank, said the scams are designed to feel real and that a “zero‑trust” approach is the best defence.

In Nigeria, the Central Bank’s industry data shows that fraud cost the financial system more than N162 billion (about $210 million) between 2020 and 2025, with digital channels now accounting for over half of all fraud attempts. Phishing combined with SIM‑swap attacks has become a dominant method, allowing criminals to bypass multi‑factor authentication and drain accounts quickly. Nigerian banks are responding with AI‑driven detection systems and tighter cooperation with telecom operators, while regulators push for stronger cross‑sector identity security. Customers are repeatedly warned to treat unsolicited messages with caution, avoid sharing credentials, and report any sudden loss of network service.