Over one in three are victims of fraud, figures show

Over one in three adults in Ireland has fallen victim to fraud or scams, according to figures released by the Central Bank of Ireland.

The data was collected through a national survey of almost 3,000 adults, making this one of the largest pictures of fraud incidence and its impact on consumers in Ireland.

The figures paint a frightening picture of fraud in Ireland, but the research suggests that the impact on consumers may be massively underestimated.

The data show that over two-thirds had suffered actual financial losses as a result of fraud, and the total reported payments were €160 million in 2024, a 24.5% increase from 2023.

The research also found that 38% of fraud victims did not report their experience to any authority, including their financial service provider.

When it came to the most common form of scams, 48% caught through online purchase scams.

This was followed by credit and debit card fraud, which made up 34% of cases. Other scams included delivery service impersonation and phishing or email scams.

An Garda Síochána and other authorities were able to help 57% of people get their money, but just 13% of those who didn't report the fraud recovered their money.

Deputy Governor Kincaid gave his thoughts in regard to this report.

He said: “Financial frauds and scams continue to be a key area of concern for the Central Bank of Ireland, as it is for regulators and law enforcement agencies all over the world.

“The research we are publishing today will help the Central Bank, other authorities and financial service providers to combat fraud and develop better frameworks to deal with this growing problem we face together.

“The research also shows that you can make it harder for the fraudsters by taking steps in your online behaviour, and it is important that if you do fall victim to fraud, you report it.

“Reporting to your financial service provider makes it more likely your money can be recovered, and where you did not specifically authorise the payment transaction, you have a statutory right to a refund, subject to limited exceptions.

“By reporting, you may also help others by making your financial service provider aware of the fraud.

“Of course, it is equally important that where people do report fraud, their financial service provider is there to support them, and the Central Bank has work underway with the firms we regulate to improve customer service for fraud cases.”