BANK OF IRELAND has issued a warning to customers about fake adverts currently appearing on social media that are impersonating well-known retailers and offering bargains.

The bank said with more people online shopping in the run-up to Christmas, fraudsters are increasingly targeting consumers through scam ads on the internet. 

The ads often impersonate well-known retailers and show fake offers for certain products, directing anyone who clicks on them to counterfeit websites designed to steal personal and financial information.

One of the fake ads appearing on social media. Bank of Ireland Bank of Ireland

“Christmas should be a time of joy, not worry. Unfortunately, fraudsters see this season as an opportunity to exploit consumers, and we’re seeing many fake adverts currently which are impersonating well known retailers,” Nicola Sadlier, head of fraud at BOI, said.

“Our fraud team is working around the clock, even over the Christmas and New Year period, to support customers. If something feels suspicious, trust your instincts and reach out to us straight away.”

Bank of Ireland is urging customers to be cautious of any ads that appear on social media that look too good to be true.

They said they should always verify that they are shopping on the official website of a retailer and avoid clicking on links in unsolicited messages or posts. 

A fake ad impersonating Tesco on social media. Bank of Ireland Bank of Ireland

If they suspect fraud, they should contact Bank of Ireland immediately.

The bank is also reminding customers that its dedicated fraud support team is available 24 hours a day, seven days a week throughout Christmas and New Year.

Last year, the bank’s fraud prevention team received over 10,000 calls from customers between 23 December to 29 December, with 550 calls on Christmas Day alone.

Customers can call the bank’s fraud team on 1800 946 764.