One in Three Adults in Ireland Hit by Fraud, Many Fail to Report Incidents: Central Bank

Dublin: New research from the Central Bank of Ireland reveals that 35% of adults in Ireland have experienced fraud, with a significant proportion choosing not to report it.

The study, based on a survey of 3,000 people conducted between December 2024 and January 2025, found that more than one-third of victims (38%) did not report the incident to any authority. Among those affected, two-thirds suffered financial losses, although most lost relatively small amounts—39% reported losses of less than €249.

The research highlights that online purchase scams are the most common form of fraud, accounting for 48% of reported losses. This is followed by debit and credit card fraud (34%), delivery service impersonation scams (15%), and phishing or email scams (13%).

The report identifies risky online behaviour as the primary driver of fraud, outweighing factors such as age, income, or education. Common risks include shopping on unfamiliar websites, sharing sensitive financial information on email or messaging platforms, and making unsecured online payments.

Deposit fraud, while affecting a smaller proportion of people (7%), results in significantly higher financial losses, making it a major concern for regulators.

The findings also underline the importance of reporting fraud. Among victims who reported incidents to their bank, An Garda Síochána, or other authorities, 57% were able to recover their money. In contrast, only 13% of those who did not report the fraud managed to recover their losses.

In total, €160 million in payment fraud was reported in Ireland in 2024—a 24.5% increase compared to the previous year—though the actual figure is believed to be higher.

Colm Kincaid emphasised the importance of reporting fraud promptly to financial institutions, noting that it improves the chances of recovering funds and helps prevent similar incidents affecting others.

Separately, Taoiseach Micheál Martin highlighted a recent case in which a couple lost €2,800 after booking non-existent wedding accommodation advertised on Facebook, underscoring the growing sophistication of online scams.

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