Bank of Ireland has issued a stark warning to farmers to stay alert to fake farm machinery ads, including those using pop-up social media ads that lead to “bogus machinery websites”.

The bank stated that fraudsters have proven “highly skilled at creating fake websites that appear genuine and persuade customers to share their payment information”.

Many scams reported have focused on tractors, balers, ploughs and seed drills, with some using imitation websites designed to appear like those of well-known and reputable companies.

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Potential purchasers may be “lured” into the fraud by false promises of reduced prices and asked to pay directly from their bank account before the purported seller cuts all contact without delivering the product.

Bank of Ireland’s head of fraud Nicola Sadlier warned that financial crime is a “growing problem” from which no individual or business is safe from being targeted.

The fraud chief’s caution to farmers comes after one customer lost €10,000 to one of these bogus ads, having been lulled into transferring the funds after spotting the machinery on a website “that looked similar to a popular online marketplace”.

Fraudsters finding new ways

“Fraudsters are directly targeting businesses daily, finding new ways to target specific business types,” Sadlier said.

“We are urging the farming and agri-food community to be vigilant around the risk fraud poses to their business, including through purchase scams, payment redirection fraud or cyber attacks.”

Bank of Ireland has advised customers to research websites and sellers to check that they are genuine; to be aware of pop-up ads on social media sites; to browse sellers’ sites directly from a browser search; and by viewing large purchases in-person before transferring funds.

It has also said that links in unsolicited emails or on social media should be avoided, while paying by debit or credit card could offer additional protection, such as charge-back claims, should a customer be defrauded.

Any farmers who suspect they have been a victim of fraud have been told to contact their bank immediately to leave the greatest possible chance of retrieving funds.

Bank of Ireland customers can freephone 1800 946 764 at any time.