Irish businesses lost €19m in email scams in the past two years

Two thirds of SMEs say they’ve been targeted by a financial scam in the last 12 months,

Irish businesses lost €18.9m over the past two years through email-related scams, with firms losing an average of €22,000 in each incident.

Invoice redirection and CEO impersonation scams remain the top fraud risks to businesses, according to new data from FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI).