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<\/p>\nFraudSMART, a fraud awareness initiative led by the Banking & Payments Federation Ireland, said the public lost \u20ac 179 million last year – a 27% increase from 2024.<\/p>\n
People across Ireland are being encouraged to be on the look out for suspicious behaviour. (Image: Getty)<\/p>\n
Scammers are using “sophisticated social engineering tactics” and “AI-enabled impersonation”, it has emerged.<\/p>\n
FraudSMART, a fraud awareness initiative led by the Banking & Payments Federation Ireland, said the public lost \u20ac 179 million last year – a 27% increase from 2024.<\/p>\n
They said “authorised push payment fraud”, which is when a scammer gains the trust of a person and tricks them into sending money, accounts for 45% of total fraud.<\/p>\n
Mary D\u2019Arcy, Financial Crime Lead, BPFI said: “The latest figures from the Central Bank of Ireland highlight the growing scale and sophistication of fraud, with losses increasing to \u20ac179 million in 2025 and authorised push payment fraud now accounting for almost half of all fraud losses.<\/p>\n
“Fraudsters are increasingly using sophisticated social engineering tactics, including AI-enabled impersonation, to exploit trust and manipulate consumers into making payments themselves.<\/p>\n
\u201cCriminals are also targeting consumers directly through online platforms, advertisements, social media, messaging services and phone calls, making scams more difficult to identify.<\/p>\n
“Consumers should be especially cautious when asked to transfer money, share personal or financial information, or respond to unexpected communications, even where these appear to come from a trusted source.\u201d<\/p>\n
Offering consumers advice on how to protect themselves, Ms D\u2019Arcy added: \u201cThese scams are designed to appear genuine and can be very difficult to spot, which is why any of us can fall victim.<\/p>\n
“It is so important to pause and take time to check. Importantly, don\u2019t be afraid to ask for help if something does go wrong. If you think you have fallen victim to a scam, contact your bank immediately using the number on the back of your debit or credit card and report the incident to the Garda\u00ed.\u201d<\/p>\n
She concluded: \u201cWhile industry is investing significantly in fraud prevention, detection and consumer awareness, fraud cannot be tackled by banks alone.<\/p>\n
Criminals exploit multiple channels, from social media and online advertising to phone calls and text messages, so a coordinated national response across all sectors is essential to disrupt scams and better protect consumers, including financial services, online platforms, telecommunications providers, Government, regulators and law enforcement. BPFI and our members are working through Ireland\u2019s National Cross-Sector Anti-Fraud Forum, established under the National Payments Strategy, to strengthen fraud prevention, consumer awareness and information-sharing across sectors.\u201d<\/p>\n
FraudSMART’s top tips include:<\/p>\n
Think Before You Click \u2013 pause before engaging with unexpected messages, emails or offers.Verify, Don\u2019t Trust \u2013 always independently check websites, senders, and requests. Use Scamchecker.ie<\/a>Protect your Financial Information \u2013 never share banking security codes, full PINs, or passwords and remember your bank will never ask for themBlock & Report \u2013 stop repeat scams by blocking and reporting fraud attempts.Stay One Step Ahead \u2013 knowledge is power. Sign up for real-time scam alerts through FraudSMART.ie<\/a><\/p>\n