Social media platforms made €32m in revenue last year from scam ads targeting consumers in Ireland, according to new research.
The study was commissioned by online banking platform Revolut and was conducted by Juniper Research.
It found that in the Irish market, the average amount lost per scam social media ad is just over €1,500.
According to the report, platforms make around €4.4 billion annually from scam ads targeting European users.
In 2025, an estimated 10% of all social media advertising revenue in Europe was derived from fraudulent ads, the study found.
"European users were served nearly one trillion scam ads in 2025," the report states.
The average social media user encountered 164 scam ads in 2025, a figure which is projected to rise to 215 if current trends persist, according to Juniper Research.
The research estimates that by 2030 social media companies will generate over €13.8 billion from scam ads and that scam ad impressions will exceed 1.4 trillion in Europe.
In the past, Revolut has been criticised for how it treats customers who become victims of fraud.
In December, Fianna Fáil MEP Billy Kelleher called on Revolut to roll out updated fraud, reimbursement and verification processes.
"In recent months, it has become clear through a considerable number of examples of Irish Revolut customers being subject to theft by fraud - both anecdotally and in the press - that there is a problem with Revolut refusing to refund the customer, despite only having made cursory attempts to verify the payment," Mr Kelleher said at the time.
Revolut said it is dedicated to securing customers' finances from fraudsters using secure access protocols, in-app fraud warnings.
"Our vigilant automated security system monitors transactions for signs of potential fraud and scams," according to Revolut's website.
"If suspicious activity is detected, we'll warn you and ask you for additional information, if needed," the company said.
Last year, Revolut rolled out in-app calls to help customers uncover impersonation scams, and make contact between customer support and Revolut customers safer and more reliable.
