81% of Irish Consumers Targeted by Scammers Last Year as Fraudsters Deploy Trickier Tactics

Wise, the international money app, today unveiled new research on the impact of scams in Ireland. It reveals that the majority of Irish people (77%) believe scam attempts increased significantly last year, with almost half of consumers (45%) targeted in the last three months of 2024 alone.

This comes as the Irish government has proposed new legislation, recommending measures such as the publication of a National Economic Crime Strategy and the development of a shared fraud database to tackle the dramatic increase in scams.

The survey of 2,000 Irish adults, conducted by Censuswide, reveals that in addition to becoming more frequent, scams are also getting harder to identify. Eighty-two per cent of Irish people think scams have become more sophisticated, and while almost three in five (58%) feel well-informed about new types of scams, most (84%) are concerned for vulnerable family or friends.

The new study shows that phone calls, text messages, and emails are the most common channels used by scammers and indicates that their tactics change depending on their target. Two in every five (39%) of 16-24 year olds received scam text messages, which is disproportionately more than any other age group.

In an effort to address this growing threat, nearly half (46%) of Irish people believe that scam awareness should become a core part of the school curriculum. Furthermore, an overwhelming 98% agree that children should be taught some form of scam awareness from an early age.

Despite expressing greater confidence in their scam-spotting abilities, men reported significantly higher average losses (€2,168.73) compared to women (€1,151.22). This is further compounded by the fact that men are less likely to admit to their family members that they have been scammed, potentially limiting the support and advice they receive.

Additionally, the report highlights a widespread lack of awareness, with 54% of Irish people unsure of where to seek assistance if they fall victim to a scam. This combination of overconfidence, reluctance to share experiences, and limited knowledge of support resources exacerbates the impact of sophisticated scams on the population.

“Education and awareness are key to combatting financial crime,” said James Clements, Wise’s scams and financial fraud expert. “There is no shame in being a victim of financial crime and we would encourage anyone affected by a scam to report it to their financial provider. At Wise, helping customers to protect themselves moving forward is a top priority and we are continually investing heavily in scam prevention.

“There are also convenient steps that consumers can take to protect themselves. Although three in four Irish people regularly check their financial statements for fraudulent behaviour, only a quarter (24%) have set up fraud alerts with their financial provider or credit card company, and just one in 10 (11%) have registered with identity theft monitoring services.”

Over the past year, the most common scams consumers have encountered include impersonation scams (43%), online shopping scams (34%), and rental scams for things like holiday homes (15%). Though 64% say encountering scams has changed their online behaviour, nearly half (47%) of Irish consumers still make impulse purchases regularly, and less than half take preventative measures to avoid falling victim to fraudsters.

“It’s important for people to remain vigilant of scam attempts, especially when looking for the best deals. Our research shows most consumers find January more financially stressful than other months. Consumers can’t be blamed for looking out for a bargain buy or a cheap holiday abroad as a pick-me-up. However, this can make them more vulnerable to fraudsters. If it looks too good to be true, it probably is, so it’s important to look out for common red flags and to take effective preventative measures,” explains Clements.

In response to the rising threat of sophisticated scams, Irish consumers have identified key warning signs and adopted measures to protect their finances and personal information.

Top scam ‘red flags’ identified by Irish consumers:

• Unexpected calls or messages from another country (37%)
• Poor grammar and spelling mistakes in emails or text messages (30%)
• Suspicious email addresses/website URLs/attachments (26%)
• Requests for personal or financial information (26%)
• Claims about account problems requiring verification (23%)

Top preventative measures identified by Irish consumers:

• Avoiding clicking links in unexpected emails or text messages (57%)
• Enabling two-factor authentication where available (51%)
• Creating strong, unique passwords for online accounts (46%)
• Limiting personal information shared on social media (44%)
• Checking for secure website connections when making transactions (37%)