By Dave Kavanagh

Despite every financial institution, news outlet, vloggers and even dedicated TV shows all constantly warning us how to avoid a variety of scams, not only are they still being attempted but they are still catching people out, with reported payment fraud estimated in Ireland of €160 million per year (based on 2024). Of course, many scams go unreported so it is most likely the figure is much higher than this. The scams range from simple text messages, either trying to persuade you to click on a hyperlink, or pretending to be one of your children who has a new phone number and needs you to send them money, to phone calls pretending to be your internet service provider, your credit/debit card company or an online store such as Amazon. There are also texts and emails needing you to pay a small customs charge on a delivery. Remember, if scammers send out 20,000 of these texts, there’s bound to be a number of people who are expecting a delivery, or have had a recent internet connection problem etc., so it makes them more convincing to some.

So what can you do to minimise the risk of being scammed? Firstly, if in any doubt, do not click on hyperlinks, no matter how genuine they appear. You could be downloading malware or giving scammers access to your digital device. If you’re concerned, contact the real company through the usual methods of contact that you have (not one that is given to you by scammers!). If you receive a phone call from someone who claims to be from one of the types of companies listed above, firstly, do not give away any information at all. If they say they are calling from Eir, do not say “but we’re with Vodafone”. You’re just giving them additional information to use to call you again in a couple of months. Ask them any questions you think relevant, then end the call and contact the company directly. The main thing is to be vigilant and cautious of unexpected contact.

Dave Kavanagh QFA has been advising people financially for over 25 years. For quotes or information (with no cost or obligation) he can be contacted by emailing info@financialcompanion.ie or use the contact form on www.financialcompanion.ie or @Davekav_advice on Twitter and Instagram. Combined with his previous role of gym/nutrition adviser, he regularly gives talks and workshops at seminars and events for groups, companies and government departments on financial wellbeing, positivity and motivation. As heard on RTE 2FM , LMFM and TV3.