There in five Dublin businesses have been the victims of crime over the past year, according to a study by the Dublin Chamber of Commerce.

The rising crime rate is costing Dublin business around £170 million a year, through losses on theft, expenditure on security devices and hiring specialised security personnel.

Over 60 per cent of businesses said they had been subjected to criminal activity over the previous 12 months. The crimes recorded ranged from armed robbery to handbag snatches in offices.

According to the survey the average loss was 1 per cent of total revenue but this jumped to 4 per cent for large retailers.