Irish fraud victim rate hits 10.6 percent, Kincaid warns
Central Bank of Ireland Deputy Governor Colm Kincaid called for unified cross-sector collaboration to combat economic crime at an inter-agency conference on October 9, 2026. The address followed data showing personal fraud victims reached 10.6 percent of the Irish population in 2025.
From the street to the screen
Fraud is now the most common personal crime in Ireland, with 10.6 percent of the population reporting victimization in 2025, up from 3.9 percent in 2019 and 2.4 percent in 2015.
Colm Kincaid noted that criminal activity has migrated from physical locations to online platforms, phones, and messaging systems.
Nearly three-quarters of victims experience non-monetary consequences, including eroded institutional trust and social distress.
The Central Bank of Ireland completed a thematic review of authorized push payment fraud across the banking sector.
As Kincaid stated, “no single actor, institution or corporation can stop it alone.”
Piecing together the fraud jigsaw
Resolving fragmented oversight requires structured cooperation across technology platforms, telecommunications firms, and law enforcement.
The Central Bank of Ireland secured statutory Trusted Flagger status in 2025 to fast-track removals of illegal financial promotions, while Ireland's National Payments Strategy commits to establishing a shared fraud database.
European initiatives, including Article 75 of the EU Anti-Money Laundering Regulation, will formally authorize public-private data partnerships to track cross-border payments.
Voluntary coordination falls short
Takedown notices and voluntary forums fail to disrupt cross-border crime syndicates.
Private firms continue to protect their own liabilities rather than pooling critical network intelligence.
Without mandatory data-sharing and direct platform liability, enforcement will lag behind online fraud.