Tag Archive for: Permanent

Permanent TSB introduces new security feature to block scam links – The Irish Times


Permanent TSB has launched a new in-app security tool that will help detect potential scam websites that are targeting the bank’s customers.

PTSB Protect will alert customers if they receive a text message containing a fraudulent link or block them from accessing a suspicious website on their mobile device.

It is an opt-in feature that will require users to allow it to access browser and text message content to work correctly. But it will work differently depending on what mobile platform customers are using, Android users will get an alert when a fraudulent website is found in a text message; iPhone users will have the content blocked, preventing access to the fake site.

PTSB Protect depends on a daily-updated list of fraudulent links that are posing as legitimate websites, trying to scoop up personal details. The links that are received or accessed on the customer’s phone will be compared to it, with content blocked or an alert generated when fake websites are detected.

The move is in response to an increasing problem with fraudulent payments. While extra security measures such as two-factor authentication have been implemented for card payments and access to online banking, fraudsters have become increasingly sophisticated in response.

According to figures from the Banking and Payments Federation of Ireland (BPFI), card fraud cost Irish consumers €85 million in 2022. That was an increase of almost 9 per cent on the year before.

“Attempts to defraud customers through criminal activity has increased significantly over the last number of years. Our own research suggests that 75 per cent of Irish consumers have experienced an attempt of fraud with 27 per cent falling victim to it. With scams getting more sophisticated, consumers need to continue to be on their guard at all times,” said PTSB chief operating officer Peter Vance. “By introducing PTSB Protect as a new line of defence to our mobile app, we can now directly identify the source of this activity and help protect our customers before their accounts can become compromised. Financial fraud is a significant threat and it is often being targeted at groups that may think they are less vulnerable.”

The feature has…

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