Nuisance communications, often euphemistically referred to as scams, have surged in prevalence, becoming an increasingly troublesome issue. These deceptive messages range from fake texts to fraudulent investment schemes, posing a considerable inconvenience at best and severe financial harm at worst to unsuspecting individuals. Cybercriminals thrive on exploiting even a small number of victims to reap substantial gains. Recent research conducted by ComReg estimates that nuisance communications cost individuals and businesses in Ireland over €300 million annually, with a staggering 365,000 fraudulent scam cases reported in a year. As these scams grow more sophisticated, banks and individuals alike face a mounting challenge in safeguarding against them. This article delves into the evolving landscape of scams, the methods employed by fraudsters, and the technological advancements shaping the battle against these malicious communications.
Read more at the Irish Independent here.
