Kincaid urges shared action as Irish fraud victim rate hits 10.6 percent
Fraud affected 10.6 percent of Ireland's population in 2025, Colm Kincaid said at the Irish Criminal Justice Agencies Conference in Dublin on October 9, 2026. He called for clear accountability and faster information-sharing to combat economic crime.
Fraud reaches beyond financial loss
Kincaid said reported fraud victimisation rose from 2.4 percent in 2015 to 3.9 percent in 2019 and 10.6 percent in 2025.
Preliminary Central Bank of Ireland research found nearly three-quarters of victims experienced non-monetary consequences, including health effects and lost trust.
The bank completed a thematic review of authorised push payment fraud and plans to communicate good practices and gaps requiring remediation.
Rules introduced in 2026 require better support for consumers facing fraud or financial abuse, alongside EU statutory reimbursement rights.
Since becoming Ireland's first statutory Trusted Flagger for financial fraud in 2025, the bank can refer suspected illegal online content for priority platform treatment.
Four disciplines to close gaps
Kincaid set out four priorities: victim-centred responses, shared understanding of threats, timely information-sharing and international cooperation.
Ireland's National Payments Strategy commits to legislation for a shared fraud database.
Article 75 of the EU Anti-Money Laundering Regulation will permit information-sharing partnerships between obliged entities and public authorities.
The forthcoming Payment Services Regulation will require providers to join fraud information-sharing arrangements; payment services legislation will also strengthen customer protections.
Shared action, distinct accountability
Kincaid's central distinction is between collaboration and diluted responsibility.
Platforms, financial firms, regulators and investigators each hold only part of the evidence.
He called for connected action while retaining clear mandates and using enforcement powers when regulatory failures occur.