Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Authorised Push Payments Fraud: Discussion (Resumed)

Mr. Justin Kelly:

We receive roughly 800 to 1,000 incidents a month. They are invariably reports. If we look at it year on year, it is interesting that the peak of reports in the past few years, as would be expected, was during the Covid-19 pandemic. From this time last year to now, we are down 28%, which is a great success for An Garda Síochána and our partners who are working on this. There are many different areas of economic crime. I am aware that the committee discussed many of the different types of authorised push payment, APP, fraud in its last meeting. These crime areas wax and wane. Much of that depends on the attention we are putting on them. For example, from last year to this year, romance fraud is down but other types of fraud are up. Investment fraud is up. That is when people are encouraged to invest in schemes, which are often non-existent, especially around cryptocurrency. That type of fraud is significantly up, but romance fraud is down. Much of it will depend on the action we have taken. A good example around economic crime is that ATM skimming is practically non-existent now. That is because of several large operations we ran. We arrested whole groups that were involved in it.