Irish victims of WhatsApp fraud lost an average of €1,200 last year
Ireland ranked as the second worst affected country for Whatsapp fraud last year, with those who fell prey losing on average €1,200, according to data from Revolut.Revolut, which has more than 3 million customers in Ireland, said Irish consumers are being increasingly targeted by WhatsApp scams despite the perceived security of the encrypted messaging platform, and has warned customers to be vigilant.Its analysis showed that only those in the UK were more vulnerable to WhatsApp fraud than the Irish out of all the countries in Europe. It said the rising number of WhatsApp scam cases shows encrypted messaging platforms like WhatsApp, while private, offer “little protection” against fraud, and are being actively targeted by criminals across Ireland.The data showed scams originating on WhatsApp spiked by close to 65 per cent in Ireland from between the first and second halves of last year, while Irish cases represented 12 per cent of all fraud.The total monetary loss suffered by Facebook scams fell by 13 per cent over the same period, whilst Instagram scams rose 64 per cent. “Fraudsters are increasingly targeting WhatsApp users, moving away from other known platforms,” Revolut said. The average loss per WhatApp scam was €1,200, substantially more than the €260 average loss originating from Facebook scams.Meta platforms remained the biggest source of all scams globally (58 per cent) in 2024. This compared to Google platforms, which accounted for 0.09 per cent of all fraud cases, suggesting that big technology companies can successfully tackle fraud at source.Woody Malouf, head of financial crime at Revolut, said the “illusion” of security on encrypted messaging apps like WhatsApp is being “ruthlessly exploited” by criminals. “We’re seeing consumers increasingly letting their guards down to unsolicited messages received on WhatsApp more than any other platform, perhaps due to the belief that if someone has their number, they have a legitimate reason for getting in contact,” he said.“The significant financial losses demonstrate the devastating impact these frauds are having on individuals. Encryption does not equate to immunity from scams. WhatsApp has a fundamental responsibility to protect its users, and their current approach is clearly failing.”Revolut last year prevented more than €700 million in potential fraud against its customers globally.
