Phone-Based Scams: What You Need to Know 

Estimated reading time: 3 minutes

Phone-based scams, commonly known as “Vishing”, have become one of the most serious threats facing credit union members. According to RTÉ, vishing activity increased by nearly 300% between January and May 2025 compared to the same period last year. During the same timeframe, losses linked to compromised login details rose by 67%. 

These figures show that fraudsters are using increasingly sophisticated methods. They rely on urgency, fear, and psychological pressure to manipulate victims into acting quickly without proper verification.

A recent case reported in Dublin highlights how convincing phone-based scams can be.

A credit union member received a call that appeared to come from a local Dublin number. The caller claimed the member’s account had been compromised and insisted that urgent “Level 3” security action was required. Using this tactic, the fraudster persuaded the member to set up online access and disclose sensitive banking credentials. Within hours, a new payee was added, and an attempt was made to transfer €5,500 to an account in Portugal.

How Phone-based Scams Work 

Irish phone users have reported a sharp increase in scam calls originating from +44 UK numbers. These calls often use automated messages that pose as recruitment agencies or well-known retailers to gain trust and prompt a response.

Phone-based scams typically follow a predictable pattern designed to exploit trust and create a sense of urgency. Fraudsters frequently use spoofing technology so calls appear to come from legitimate financial institutions or local phone numbers. 

Red Flags to Watch For 

We will never ask for your banking credentials, verification codes over the phone. Always stay alert and contact us directly using the official phone numbers listed on our website to speak with our financial advisors.

If a call feels rushed or you are being pressured to act quickly, treat this as a warning sign. 

Be aware of these common phone scam warning signs: 

• Urgent or threatening language: Messages such as “your account will be suspended” or “immediate action required” are used to create panic and stop you from thinking clearly. 
• Requests for sensitive information: Banks will never ask for login details, one-time passcodes, or security information over the phone. 
• Masked or suspicious phone numbers: Calls that appear to come from local or familiar numbers may not be genuine. 

Protecting Your Account 

If you suspect the phone-based scam or Vishing, contact us immediately using official contact details mentioned on our website and report the incident to An Garda Síochána. Early action can prevent significant financial loss and help authorities track fraudulent networks.