Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Figures released to me by the Department of Justice show that since 2019 investment fraud has risen by 258%, account takeover fraud has increased by a staggering 560%, romance fraud has risen by 83% while scams through phishing, vishing and smishing have increased by 417%. These are frightening figures. Citizens are being robbed of millions of euro each year by fraudsters.

Last week ComReg estimated that scam calls and texts cost society and the economy more than €300 million each year. I welcome its proposals in that regard, but what is the Government doing? Why has it not published a multi-annual strategy to combat fraud and scams when this was recommended by the Hamilton report two and a half years ago? That is a very simple question to which we still do not have an answer. Why is the Government blocking the establishment of a shared information fraud database so that banks and agencies can act to stop fraudsters in their tracks in real time? It does not make any sense.

The Minister spoke about a strong legislative basis but gardaí and the banks are looking for this shared fraud database and the Government and the Department are blocking it. It makes no sense, given the rise in fraud and the hundreds of millions of euro that are being stolen each year. This is a battle that we are losing but unfortunately, we are fighting this battle with two hands tied behind our back.

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