35% of Irish Adults Experienced Fraud; 38% Never Report It

A Central Bank study reveals 35% of Irish adults have experienced fraud, yet 38% of victims never report it. Nearly two-thirds of victims lost money, with 39% losing less than €249. Investment fraud, while affecting only 7% of respondents, typically results in more substantial losses.

Online-purchase scams were the most common (48% of victims), followed by debit/credit card fraud (34%), delivery service impersonation (15%), and phishing/email scams (13%). Risky online behaviors, such as purchasing from unfamiliar websites or sharing banking details insecurely, were the strongest predictor of fraud.

Reporting fraud significantly increases the chance of recovery; 57% of those who reported to their bank or authorities recovered funds, compared to just 13% who did not report. Total reported payment fraud in Ireland reached €160 million in 2024, a 24.5% increase from the previous year, though the true impact is likely underestimated.

Central Bank Deputy Governor Colm Kincaid emphasized that reporting fraud aids recovery and helps financial service providers identify scams, noting a statutory right to a refund for unauthorized payments.