Banking

Bank of Ireland to invest heavily in anti-fraud tech amid €50m crackdown

The bank said it is cracking down hard on fraudsters with €15 million on fraud prevention technology

Social media is becoming an increasingly risky place for fraudulent activity, says Bank of Ireland. Picture: Getty

Bank of Ireland has announced €50 million in funding for fraud prevention and protection measures, including €15 million for anti-fraud technology.

It said that 77 per cent of people who are affected by fraud wanted to talk to a real person on the other end of the line, and the bank had 225 staff dedicated to this role.

In the last 12 months, 90 per cent of people have experienced fraudulent communications - either by ...