Author: Will Goodbody
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…
The latest data released by the energy regulator shows a concerning rise in the number of domestic gas customers in arrears. In March, 25% of domestic gas customers were behind on their payments, compared to 23% in the previous month. However, the percentage of non-domestic gas users in arrears decreased slightly from 30% to 28% over the same period. On the electricity front, 10% of domestic customers were in arrears at the end of March, a slight improvement from 11% in the previous month. But the percentage of non-domestic electricity customers in arrears increased from 16% to 17%. The figures…
The digital infrastructure industry in Ireland is at risk of missing out on economic benefits if policy constraints around data centres are not addressed promptly. Digital Infrastructure Ireland (DII), composed of leading data centre developers and operators, is urging the government to establish a working group to tackle issues such as energy, sustainability, and land use that have hindered industry growth. Without a clear data centre policy, Ireland risks losing out on investment opportunities in the rapidly advancing digital landscape. Peter Lantry, Chairperson of DII, warns that failure to act swiftly will jeopardize Ireland’s position as a global technology leader…
Exciting news for Ireland as IBM announces plans to create an additional 800 jobs over the next three years. These roles will focus on research and development, digital sales, and consulting in areas such as generative artificial intelligence, security, automation, and hybrid cloud. With locations in Dublin, Cork, and Waterford, IBM cited the availability of a talented workforce in Ireland as a key factor in their decision to invest. James Kavanaugh, IBM’s senior vice president, highlighted the importance of attracting and retaining top talent. Having been in Ireland for 65 years, IBM currently employs around 3,000 people and works with…
The Cabinet has approved a new package of measures to support small and medium-sized enterprises facing rising costs. This includes additional cash payments to businesses in the retail and hospitality sectors, using unused funds from the Increased Cost of Doing Business Scheme. Only 60% of eligible firms initially accessed up to €5,000 under the scheme, leaving money available for further use. Other measures include an adjustment to the employer’s PRSI threshold and increased funding for energy efficiency measures. Despite calls for a VAT reduction in the hospitality sector, no such proposal was made. Business groups continue to advocate for a…
Exciting news for Irish consumers as a new insurance provider enters the market today! OUTsurance Group, originating from South Africa, is launching its home and motor insurance products in Ireland, becoming the first new locally authorised personal insurance underwriter in over a decade. With an impressive investment of €160m in Ireland, OUTsurance aims to expand its workforce from 70 employees to 300 at its Dublin headquarters in Cherrywood over the next three years. OUTsurance CEO Peter Broome expressed enthusiasm about bringing fresh competition to the Irish insurance sector, drawing on the company’s successful track record in South Africa and Australia.…
As the summer season approaches, Dublin Airport prepares for a surge in passenger numbers, with over 10 million travelers expected to pass through its facilities. With 2,600 flights departing each week to 180 destinations, the airport is ready to handle the influx, aiming to get 90% of passengers through security in under 20 minutes. Despite improvements in customer service, the airport faces a challenge due to a cap on passenger numbers imposed in 2007. The current cap restricts the annual number of passengers to 32 million, with last year seeing nearly 32 million travelers. This limitation hampers further growth, prompting…
The National Competitiveness and Productivity Council (NCPC) has warned that the housing market is currently hindering Ireland’s competitiveness. The housing issue is not only affecting sustainable growth but also impacting people’s well-being. In its latest analysis, the NCPC highlights the significant concern of housing affordability, which is affecting Ireland’s international competitiveness. The report reveals labor shortages in the construction sector, despite the increased population since the Celtic Tiger-era. The NCPC emphasizes the importance of addressing labor market constraints to meet targets under the Government’s Housing for All plan and climate plan. It suggests greater adoption of modern construction methods to…
The Dangers of Recovery Scams: Protecting Yourself from Investment Fraud In today’s fast-paced world, the banking industry is constantly on the lookout for new scams targeting vulnerable individuals. One growing trend that is particularly worrisome is the rise of “recovery scams” aimed at those who have previously fallen victim to investment fraud. Individuals over the age of 50 are especially vulnerable to these scams, which promise to recover lost money from previous fraudulent schemes. The scammers, often impersonating reputable banks or investment firms, contact victims with enticing offers to retrieve their funds. However, in order to proceed with the recovery…