Bank of Ireland hits out at social media giants over failure to crack down on fraudsters’ fake online news stories

‘Fraudulent advertisements are increasingly appearing online and on social media channels and are designed to steal consumers’ money through fake financial products, investments or cryptocurrency schemes’

Stock image: Getty Images

Cian Ó Broin

Bank of Ireland has issued a warning about an increasing number of false articles appearing on social media platforms designed to defraud customers.

And the head of the bank’s anti-fraud department has hit out at social media giants for failing to police articles posted by fraudsters trying to steal unsuspecting people’s money.