Mistaking fabricated AI-generated posts online for genuine ones makes Irish consumers six times more likely to fall victim to scams, according to new findings from Visa, reports Breaking News.
Irish consumers who misinterpret AI-created content as real are almost six times more likely to be deceived by fraudsters compared with those who do not (73 per cent vs 12 per cent), reports Breaking News.
Visa says that the typical online scam leads to an average financial loss of €124.50, which could amount to an estimated yearly loss of €71.81 million to the Irish economy.
People who are scammed spend an average of 8.9 days resolving the issue, and half of those targeted now avoid buying from smaller or lesser-known brands, reports Breaking News.
How individuals interact with online content significantly influences their risk level. Those who share posts without checking their accuracy are five times more likely to be hit by online scams compared with people who take a moment to verify first (35 per cent vs 6 per cent).
Everyday digital behaviours — such as skimming headlines, resharing without verifying, and trusting AI-generated content — are creating new weak points that scammers are quick to take advantage of, reports Breaking News.
Fifty-nine per cent of people have believed online content was real only to later discover it was an AI-generated imitation. More than a third (38 per cent) rarely read past the headline before forming a view.
Almost a quarter (23 per cent) have reshared an online post without checking whether it was accurate, reports Breaking News.
As online scams become more advanced and widespread, these shifts in consumer habits are having real economic consequences.
Almost half (42 per cent) have changed how they shop online after being scammed, and half (50 per cent) of those targeted in online shopping scams now avoid purchasing from smaller or unfamiliar brands, reports Breaking News.
This poses a major challenge for small and medium-sized enterprises (SMEs), which make up 99.8 per cent of Ireland’s businesses and rely heavily on consumer trust for their survival and growth.
Conor Langford, Visa country manager for Ireland, said: “AI is transforming how we live, shop, work and connect, but it’s also reshaping the landscape for fraud. Scammers are using the same technology that brings us innovation to deceive and exploit consumers, blurring the line between real and fake. These scams can hurt real people, costing not just money but peace of mind and trust,” reports Breaking News.
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