People aged under 45 are more likely than older people to fall victim to financial fraud, according to Permanent TSB in its latest research on consumer attitudes and perceptions.

Contrary to popular belief, people aged over 65 check their bank accounts more often for signs of fraud and are less likely to fall victim to it than those in younger age cohorts.

While those aged over 65 make up 18% of the population, they account for just 11% of victims of fraud.

Over half of all victims are aged under 45, the research indicates.

Four in five people aged over 65 said they check their bank account every week compared with two in five of 18-24 year-olds who do so.

The latest Permanent TSB "Reflecting Ireland" research revealed that around three quarters of the population have experienced an attempted financial fraud and over a quarter - 27% - have been victims.

Almost two thirds - 64% - of fraud attempts involve amounts of €500 or less with 15% involving amounts of between €500 and €1000.

About 10% of cases related to amounts greater than €5,000.

The most common types of financial fraud are "vishing" - phone call or voice message - "smishing" - text message - and "phishing", which involves email.

The most common scams related to lottery wins, inheritance, investment and so-called "romance fraud".

This is where an individual is persuaded to give a fraudster money under the pretext of establishing a relationship.

Despite being one of the less common types of financial fraud, the research found that this type of fraud was the most lucrative, with around 60% of cases relating to amounts of more than €500.

That is almost double the rate of other types of fraud.

"Awareness of financial fraud is strong but scams are getting more sophisticated and we need to continue to be on our guard," Leontia Fannin, Permanent TSB Head of Corporate Affairs said.

"The best way to combat financial fraud is by combining the anti-fraud measures employed by banks with greater public awareness of the many different types of fraud. Always trust your instinct and call your bank if something feels wrong," she added.

"Our research shows a pattern to financial fraud that may surprise people. While anyone can be a victim, younger age groups and people living in Dublin appear more likely to be victims of financial fraud," Behavioural Scientist Claire Cogan said.

"Reassuringly we see people are responding to advice to be vigilant," she concluded.