Over 80% of consumers targeted by scammers last year
Over 80% of Irish consumers were targeted by scammers last year, new data shows.
The research carried out by international money app Wise, reveals that almost half of consumers were 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.
In addition to becoming more frequent, the research shows that scams are also becoming harder to identify.
82% of those surveyed think scams have become more sophisticated.
While almost three in five feel well-informed about new types of scams, most 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.
Almost 40% of 16-24 year olds received sca, text messages, which is disproportionately more than any other age group.
Meanwhile, 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 at €2,168.73, compared to women at €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.
“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,” he added.
Article Source – Over 80% of consumers targeted by scammers last year – RTE
