The bank says there has been an increase in what is known as 'smishing' during the Covid-19 pandemic.
Criminals are sending fraudulent texts into a genuine text thread in order to get access to confidential information and access funds.
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Over the past number of weeks, some Bank of Ireland customers have been receiving text messages instructing them to change their passwords for their online banking, giving the fraudsters access to their account.
Some customers reported lost thousands of euros to the scams.
The bank has also announced that they are launching a new scam awareness campaign today.
