The total value of fraudulent payments reported by Irish-resident payment service providers surged by 27.2 per cent to €179.04 million in 2025, up from €140.80 million the previous year, according to annual statistics published by the Central Bank of Ireland on Friday.

While the total volume of fraudulent transactions increased only marginally over the 12-month period, the regulator reported a substantial jump in the financial value of losses. Overall, payment fraud affected approximately one in every 10,000 transactions processed in Ireland during 2025.

Authorised push payment (APP) fraud—in which perpetrators use social engineering and manipulation to trick consumers into approving transfers—saw a marked escalation. APP fraud accounted for 45 per cent of total losses by value at €74.86 million, up from 35.2 per cent in 2024. The Central Bank highlighted that social engineering tactics were especially widespread in credit transfers, representing 67.2 per cent of all fraudulent credit transfer losses.

Cross-border transactions sent to accounts outside Ireland continued to dominate payment fraud losses, accounting for 69.8 per cent of total fraudulent value at €124.89 million. Average fraud amounts varied across payment types; cheques recorded the highest average fraudulent transaction at €9,741, credit transfers averaged €2,412, and payments through e-money institutions saw average fraud values spike to €1,427.

Central Bank Deputy Governor for Consumer and Investor Protection Colm Kincaid said financial frauds and scams remain a major global concern for financial regulators and law enforcement. Kincaid urged all stakeholders, including financial firms and technology companies, to continually enhance security systems and safeguards as fraudsters adopt increasingly sophisticated methods.