Businesses and consumers are being warned to be on alert as fraudsters target the thousands of customers who are switching banks.
The FraudSmart warning comes as it was revealed that in the first six months of this year – text message scams conned people out of € 1,700 each on average.
In the business world – invoice fraud – where fraudsters convince companies that a client has changed bank account – is costing companies an average € 14,000.
Niamh Davenport – head of financial crime with the Banking & Payments Federation – says companies need to be extra vigilant…
