State's debt management agency loses €5m in phishing attack

NTMA says there was no suggestion of an IT breach or that any inside information had been used.

Frank O’Connor, NTMA Chief Executive and Paschal Donohoe TD at the NTMA Mid-Year Business Update 2025. Picture: Chris Bellew / Fennell Photography

Ireland's National Treasury Management Agency, the state body that manages debt and the sovereign wealth fund, will review its security protocols after losing €5m in a phishing attack.

The scam was discovered last week after staff at the €17bn Ireland Strategic Investment Fund (ISIF) - a sovereign development fund that the agency also runs - expressed concern about a payment made to what they thought was an investee company.