The Irish Times view on online fraud: vigilance is essential

A recent leak has laid bare how Irish contact datails are actively bought, sold and weaponised for investment fraud

Photo: Dominic Lipinski/PA Wire
Photo: Dominic Lipinski/PA Wire

The spectre of online fraud casts a shadow over the digital services which have become part of everyday life across the world. But new investigation by The Irish Times this week suggest Irish people in are being singled out as particularly lucrative prey.

A recent leak from a Georgian call centre has laid bare how Irish contact data is actively bought, sold and weaponised for investment fraud.

The leak shows that scam call centres are willing to pay up to € 1,200 for leads linked to Irish individuals. Irish people are now among the most sought-after nationalities for scammers. Data is collected via fraudulent social media advertisements, often using AI-generated images of celebrities promoting bogus investment schemes.

What makes thr Irish such appealing targets? Part of the answer lies in a mix of affluence, aspiration, digital use and trust in online marketing. Many feel at ease with digital financial tools. That can make the leap into “investment apps” seem a little more plausible. Savvy scammers exploit this confidence, dressing up deception in familiar and apparently legitimate language.

The costs are very real. In the leaked call-centre data, 31 Irish victims were identified as having lost a combined € 299,135. One elderly man lost more than € 61,000; a high-ranking diplomat was defrauded of € 31,000. The victims included nurses, accountants, doctors, builders and IT workers.

To push back against this scourge requires determination and strategic nimbleness from regulators. Awareness campaigns need to evolve beyond bland warnings into active education in recognising manipulation, false promises and tech-enabled duplicity. Safeguards in advertising, especially via social media, have to be tightened. Platforms must be held accountable for fake AI imagery and fraudulent ad placements.

What is required above all is a culture of scepticism online. Not cynicism, but caution. The first line of defence is the pause before the click. There is no such thing any more as a passive consumer; everyone must be a defender of their own financial security.