Huge numbers of consumers are now being regularly targeted with scam texts, calls or emails but less than one third are taking basic online security steps.
A new report from FraudSMART, the fraud awareness initiative led by the Banking & Payments Federation Ireland (BPFI), shows that fraud continues to be an ever-growing problem for consumers in Ireland.
More than three quarters (78%) of Irish adults are now being targeted with scam text messages, emails, phone calls or online content at least once a month, according to the latest research.
The main channel for scam communications was mobile phone. According to the research, 58% of adults have encountered scam text message, 52% have received scam calls and 48% have got scam emails.
According to a previous report, fraudsters stole nearly €85 million through frauds and scams in 2022, an increase of almost 9% on 2021.
Despite the high levels of fraud, a large number of consumers are still not taking basic online security precautions when online. For example:
- Only 32% say they check for the ‘https’ at the beginning of a web address
- Just 27% said they use secured internet rather than public wi-fi
- 42% do not actively block suspicious numbers
- Only 27% said they checked for the padlock symbol at the beginning of the web address on the checkout page when making a purchase online
- 74% say they click through to the website of a company via links on social media or pop-up adverts as opposed to visiting the website directly
Social engineering and AI
The report also highlights the rise of social engineering tactics, which now play a key role in most frauds and scams.
Fraudsters commonly use deception tactics such as phishing emails, fake offers, and impersonation scams to groom or manipulate victims into transferring money or revealing personal and financial information.
They often pose as representatives from legitimate organisations like banks, utility companies, delivery services, or even government agencies. These scams exploit human emotions—such as trust, fear, or sympathy—to convince victims they are dealing with a trustworthy source.
Adding to this threat is the rapid advancement of generative AI technology, which has the potential to significantly enhance financial fraud and social engineering by creating highly convincing fake content.
What can you protect yourself against fraud?
Despite the increasing sophistication and complexity of the tactics being used by scammers, there are number of essential and simple steps which you can take to protect yourself from falling victim to fraud, which the BPFI is eager to highlight.
- Do not respond to any messages, whether it's purporting to be from your bank, eFlow, the HSE, a parcel delivery service or any other company, with personal information. A bank will never text, email or phone you looking for personal information.
- Never give away security details such as PINs or passwords to anyone.
- Do not click on any links in the text messages, instead log into your service provider account directly through the official website or app.
- Never use contact details from a text message, always independently verify.
- A text message, even if it pops up under the same thread as a genuine message from your bank, may not be real.
- Don’t be afraid to ask for help if something goes wrong. Sometimes people who have given their bank details to a fraudster keep that fact to themselves out of embarrassment. If you have shared your bank details and realise that it is a scam, report it to your bank and the Gardaí as soon as possible.
- Check if a website or link is legit by using online tools. You can use CheckMyLink or Scamchecker.ie. Just enter the retailer's address (URL) and the sites will advise if it is a safe place to shop.
Also, remember that scammers have technology that can make it look like the number they're calling or texting you from is a legitimate number. In other words they can easily copy your bank or insurance company's customer service number.
If in ANY doubt about a call, hang up and call back yourself.
With our latest research clearly demonstrating the high frequency and increasing volumes with which consumers are being targeted with various types of scam communications, it is also evident that there is still a distance to travel in ensuring we are all fully alert to and taking the key preventative steps necessary in order to protect ourselves from the barrage of scams being continuously levelled at us via texts messages, emails and social media.
Niamh Davenport, Head of Financial Crime, at BPFI
More info
Always staying one step ahead of scammers and being educated is important when trying to avoid becoming the victim of fraud.
You can sign up for real-time scam alerts and access a wealth of info on how to avoid fraud by visiting www.FraudSMART.ie.
And here's our own guide on how to avoid banking and insurance scams.
We also have this in-depth guide on how to shop online safely and avoid getting scammed.
