Financial Inclusion Key to Combating Crime in Ireland, Experts Say

A New Study Reveals the Importance of Financial Inclusion in Tackling Crime

A recent study has highlighted the significance of financial inclusion in combating crime in Ireland. The research warns that a lack of access to basic banking services is leaving some citizens vulnerable to exploitation by criminals.

Ireland’s Low Level of Access to Current Accounts

According to the study, Ireland has the lowest level of access to current accounts in Western Europe. This means that some members of the population are forced to rely on moneylenders to access credit, leading to an increasing number of borrowers facing overindebtedness. Overindebtedness is a breeding ground for criminal activity and can have severe consequences for communities.

Financial Exclusion Linked to Crime and Social Unrest

The study found that financial exclusion was a major contributor to crime and social unrest in countries such as the UK, France, and Belgium. It warns that if left unchecked, financial exclusion could have devastating consequences for communities across Ireland.

Expert Recommendations

To combat this problem, the study recommends:

• Improved access to affordable credit
• Debt advice services
• Greater cooperation between financial institutions, government agencies, and community groups to promote financial inclusion and prevent overindebtedness

Welcomed by Crime Prevention Experts

The findings of the study have been welcomed by crime prevention experts, who emphasize that addressing financial exclusion is crucial to tackling crime in Ireland.

“This research highlights the critical importance of financial inclusion in preventing crime,” said a spokesperson for the Irish Crime Prevention Council. “We urge policymakers to take immediate action to address this issue and promote financial inclusion across Ireland.”