Younger people aged between 25–34 years are the most likely age group to be victims of financial fraud, with 43% saying they have already been victims, up significantly from 29% in 2024. The next most prominent age group impacted are those aged between 18-24 years at 28%. This compares with just 18% of those aged 55 and over.
Ahead of Black Friday and the upcoming busy Christmas shopping period, PTSB’s latest Reflecting Ireland research examines financial fraud and looks at trends and changes in behavior since the previous Reflecting Ireland Fraud Report in 2024.
The 2026 research findings challenge previous conventional assumptions that older people are more vulnerable to financial fraud. The research shows that people in the 25-34 age group are at an even higher risk of financial fraud due to a combination of factors including overconfidence bias, more effective targeting by fraudsters and lifestyle factors including spending a higher amount of time online.
While vishing, smishing and phishing scams remain the most widespread form of experienced fraud, those who have been a victim of these more established frauds types is down since 2024 including vishing (53%, down 2% pts), smishing (52%, down 7% pts) and phishing (52%, down 6% pts).
However, there is a corresponding increase in the prevalence and variety of other opportunistic frauds including lottery (30%, up 8% pts), skimmed card (29%, up 4% pts), inheritance (26%, up 6% pts), investment (24%, up 4% pts), romance (21%, up 6% pts), ticketing (19%, up 6% pts) and rental (15%, up 7% pts). Quishing, or QR code phishing, is a new entrant in the survey in 2026 at 17%.
Increasing concerns over the impact of AI on fraud with 80% of adults saying that increased AI use will lead to more sophisticated financial fraud, up 8% pts since 2024.
Overall exposure to fraud is slightly up in this year’s report compared to two years ago, with almost three-quarters of adults, 73%, having experienced an attempt at financial fraud, compared with 71% in 2024. One in four adults, 25%, have been a victim of financial fraud, down slightly from 27% in 2024. Just 21% of adults say they have never experienced a financial fraud attempt, broadly unchanged from two years ago.
The prevalence of fraud outcomes comes despite very high levels of awareness among the general public of fraudulent scams. Overall, 36% are very aware and a further 61% are somewhat aware of these scams. On a positive note, there is also greater confidence in knowing what to do if targeted by financial fraud, which has risen to 57% compared to 46% in 2024.
There is an overconfidence bias among many people in relation to identifying frauds and scams. On average over 8 in 10 (83%) are confident they could spot a scam text message or email, and 27% are ‘very confident’. Despite being the most impacted by fraud, under 35s are the most confident about spotting a scam, with twice as many saying they were ‘very confident’ when compared to those over 45 (38% vs.19%). Men tend to be more confident than women (30% vs. 25% very confident). These results indicate over-confidence or complacency among younger adults which could be a contributing factor in why they are experiencing higher levels of fraud than older adults.
63% rely on personal judgement and experience while only half undertake sender and authenticity checks such as email address, phone number or website links when identifying scams. Those aged 25–34 are least likely to check the link or website in a message: just 18% do so, compared with 25% of those aged 55 and over. Whether a message looks genuine or not, it is important for all of us to take a moment to check the sender’s details and verify it through a trusted source.
However, consumers are becoming more proactive with 66% conducting a Google search before buying from a particular website, while 55% are using websites such as Trustpilot to check if companies are real or fraudulent.
Concern about AI-led fraud increases with age, with 70% of 25-34 year olds agreeing that increased AI use will create more sophisticated financial fraud, compared with 75% of 35-44 year olds, 84% of 45-54 year olds and 84% of those aged 55+.
AI could increase the sophistication of opportunity-based scams by making fraudulent messages, profiles, listings and offers appear more convincing.
“Our latest Reflecting Ireland Research highlights that younger people still remain more vulnerable to financial fraud. We often think of younger adults as the people who can help others navigate the digital world, but these findings remind us that we all need to stay alert.
This is especially relevant at this time of year. In the rush to snap up a Black Friday bargain, a convincing website can be very attractive. Before shopping, we advise customers to switch on PTSB Protect in the app to help flag texts containing known fraudulent links and block access to known fraudulent websites. Alongside that extra protection, taking a moment to check who you’re buying from is just as important as finding the right deal.”
“Fraudsters don’t just try to convince us that something is genuine; they try to make us feel something. Fear that our money is at risk, or excitement about an opportunity, can push us to act quickly. Understanding that emotional pull helps explain why scams can catch out even well-informed people.”
PTSB is hosting a dedicated Branch Fraud Awareness Week in its 98 branches nationwide from 21 – 28 November. The Bank also operates a dedicated fraud line 24/7 on +353 1 669 5851.
For media queries, please contact ed.micheau@ptsb.ie
The PTSB Reflecting Ireland report was conducted by Core Research and surveyed online 1,000 adults aged 18+ living in the Republic of Ireland. Fieldwork was carried out between September 10-23, 2026. The sample is nationally representative based on age, gender, region and social class, with a margin of error of [margin of error] at the 95% confidence level.
