Thousands of Irish consumers are changing bank accounts. The fraudsters are watching

Thousands of customers are moving their accounts as Ulster and KBC leave the market

Bank of Ireland has already seen a sharp increase in activity opening double the number of current accounts in comparison to the same period last year.

Bank of Ireland has warned customers of the increased fraud risk due to the movement of hundreds of thousands of bank accounts.

The warning comes as banking customers in Ireland face an unprecedented level of uncertainty as Ulster Bank, which is the third-largest general lender, and KBC Bank, a leading mortgage lender, both withdraw from the Irish market later this year.