Reason Irish men lose more money to scams - and how to spot the top 'red flags'
New research has revealed that the majority of Irish people were targeted by scammers in 2024, with men losing significantly more money than women. There are a number of common scam 'red flags' to watch out for.
Scams are now an unfortunate reality for the majority of Irish people, with new research revealing alarming statistics about the extent of fraud in Ireland.
According to a new study by International money app Wise, a whopping 81% of Irish people were targeted by scammers in 2024. It found that in addition to becoming more frequent, scams are also getting harder to identify, and most people are concerned for vulnerable family and friends.
The research, based on a survey of 2,000 adults in Ireland in January 2025, found that despite feeling more confident in their ability to spot scams, men still lose far more money than women. The average loss for men last year was €2,168.73 compared to €1,151.22 for women.
The data said this was exacerbated by the fact that men are less likely to admit to their family members that they have fallen victim to scams, which could potentially limit the support and advice they receive. Experts point to this reluctance to speak out as a key reason why men tend to lose more money in scams.
Wise’s scams and financial fraud expert James Clements said: “Education and awareness are key to combatting financial crime. 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."
The research also highlights the worrying rate at which younger people are being targeted. More than two in five (39%) of 16 to 24-year-olds have received scam text messages in the past year, a rate far higher than other age groups. As a result, there is a growing call from the Irish public for scam education to be integrated into schools, with nearly half (46%) of respondents believing that teaching children how to spot scams should be a priority.
Despite the increased frequency of scams, many Irish consumers are still unsure where to turn for help if they fall victim to a fraud attempt. Over half (54%) of those surveyed admitted they didn’t know where to seek assistance.
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%). While 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.
Mr Clements continued: “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.
"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."
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%)
This comes as the Irish government has proposed new legislation, recommending measures such as the publication of a National Economic Crime Strategy and development of a shared fraud database, to tackle the dramatic increase in scams.
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