The Garda Economic Crime Bureau says the lockdowns were a “perfect storm” for ruthless scammers and criminals.
Officers have warned businesses in particular of scam calls, texts and emails, with malicious actors trying to steal money.
They have called on the public to report any white collar crime immediately, adding that it will be investigated thoroughly and discreetly.
Detective Chief Superintendent and the lead officer in the Bureau, Pat Lordan, says a business owner was reduced to tears because the criminals were about to bankrupt him.
Mr Lordan said: “I've dealt with a lot of serious crime and financial crimes is quite serious as well. He cried at the other end of the phone when I told him on a Friday afternoon that we had recovered €127,000 of his money, because his business was going to close down if we hadn't got his money back, that's one example of a business that was going to be wiped out.”