Protect Yourself from Holiday Fraud: Almost €100m Lost to Scams Last Year
Shocking new data reveals that nearly €100m was stolen through frauds and scams last year, marking a 16% increase from the previous year. According to FraudSMART, 95% of fraudulent transactions were attributed to card fraud, with a staggering 36% of gross fraud losses stemming from this specific type of fraud.
While card fraud saw an 8.2% increase, other forms of fraud, like unauthorised electronic transfers and authorised push payment fraud, had lower volumes but higher average losses. It is crucial for consumers to stay vigilant, especially when making holiday-related purchases.
Niamh Davenport, Head of Financial Crime at the Banking and Payments Federation Ireland, warns, “Fraudsters are increasingly targeting consumers using complex and deceptive methods, particularly when people are caught up in the excitement of booking holidays.”
To protect yourself, be cautious when booking travel and accommodation online. Watch out for copycat websites that mimic legitimate sites to steal your personal and payment information. Stay alert and safeguard your finances this holiday season.