Sinn Féin TD for Tipperary Martin Browne has called for a plan to tackle fraud and scams, following a massive increase in the crime.
Figures released to Sinn Féin’s Finance spokesperson Pearse Doherty by the Department of Justice show an alarming increase in financial fraud and scams across the State. Since 2019, instances of investment fraud have risen by 258 percent. Account Takeover Fraud has increased by a staggering 560 percent. Romance fraud has risen by 83 percent while scams through phishing, smishing and vishing have increased by 417 percent.
Deputy Brown says citizens are being robbed of millions of euros each year by fraudsters and that this will include countless people in Tipperary.
The TD called out the Government for the failure to develop a multi-annual strategy to combat economic crime as recommended in the Hamilton report in 2020. The TD noted that Financial institutions and An Garda Síochána still do not have a Shared Fraud Database to tackle fraud and protect consumers – despite banks repeatedly calling for it to be established.
What is Phishing, Smishing and Vishing?
Phishing – the fraudulent practice of sending emails or other messages pretending to be from reputable companies in order to induce individuals to reveal personal information, such as passwords and credit card numbers.
Smishing – a social tactic cybercriminals use to trick people into divulging sensitive information over text messages.
Vishing – the fraudulent practice of making phone calls or leaving voice messages pretending to be from reputable companies in order to induce individuals to reveal personal information, such as bank details and credit card numbers.