Ekco research reveals €760M lost to scammers in Ireland last year

Ekco, one of Europe’s leading security-first managed service providers, has announced the results of new research which estimates that scammers cost adults in Ireland €760M last year.

The research was conducted by Censuswide on behalf of Ekco among 1,000 adults in Ireland. The data shows that 96% of people encountered a scam or phishing attempt last year and the average person received more than five scam or phishing communications per month, or 63 per year.

While many avoided being duped, 22% of adults made at least one payment last year, believing that it was legitimate communication, and 15% made two or more payments. This is despite the fact that 80% of adults are confident that they could identify a phishing text or email.

The average amount lost by those who made a payment was €890 over the course of the year. This equates to €760M1among the adult population and has left one-in-nine seeking financial help from a loved one after falling victim to cybercrime.

The most common scam identified by adults in Ireland is a customs charge payment request, with 48% saying they received one last year. This is followed by a request to verify payment details (37%) and a request to pay a toll charge (27%).

The research found that the proliferation of scams and phishing attempts has left 41% of adults feeling stressed about having to be vigilant about scams. Despite this, not everyone is sympathetic to people who fall victim, with 24% of adults saying are naïve or careless, rising to 31% among 18- to 24-year-olds.

Conor Scolard, Director of Cyber Resilience, Ekco, said: “The reason so many of us are fielding scam attempts month in, month out, is because cybercriminals know they work. And, while most people believe they can spot a scam attempt a mile off, the reality is that they are getting more sophisticated to the point where many are falling victim to scams multiple times per year.

“At Ekco, we are working hard to shut down the cybercrime economy. Businesses and service providers can do their bit by empowering customers to differentiate between legitimate and bogus communications. Doubling down on cyber defences, while also educating consumers about clicking on links, or providing payment information and PINs over the phone, can make a significant difference.”

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