Nearly half of young adults are targeted by fraud on a monthly basis, a new study has revealed.
The survey shows 47% of adults between the ages of 18-24 say they have been a target of attempted fraud at least every month, while 16% of those say they have been targeted weekly.
Of those in this age bracket who have had money stolen, the average sum lost to scams amounted to €228.
Statistics released by Banking & Payments Federation Ireland (BPFI) revealed just a third of young adults realised that they had been defrauded within 24 hours of the incident.
A shocking one in five meanwhile said they were unaware of the fraud for more than a year.
Niamh Davenport, who leads the BPFI FraudSMART programme, said: “Fraudsters know that classified ads attract young people looking for part-time and casual work in exchange for cash, especially over the summer with people earning extra money for travel, entertainment and everyday living costs.
"False ads that trick young people into transferring money, handing over card details or other personal information can pop up while browsing online, show up in a social network feed, be sent by email or posted in a public place such as a community noticeboard.
"If the offer looks too good to be true, it probably is.
"When it comes to being fraud smart, we’re urging young people to challenge what they see and check with someone they trust before signing up for more than they bargained for.”
If you find yourself becoming a victim of fraud, experts advise changing passwords and using more caution when signing up to services online.
Ms Davenport added: "If you’re among the one in four young adults who have not taken any new measures to protect yourself, then this is the year to re-set your passwords, think twice about signing up for that free trial and share your suspicions with someone you trust."
