There's been a very dramatic 90 per cent rise in the level of investment fraud. Over 25 million euro was stolen from victims of investment frauds in 2023, almost equal to the figure from the previous two years combined. Investment fraud is where criminals pose as finance managers and lure people into investing money into schemes or companies that don't exist. Gardaí are warning that over 55 cases have already been reported in the fist two months of this year.... with cold-calling and social media among the methods used.
Men are most likely to fall victim, and in some cases the sums involved are large. One case reported in May of last year involved a man in his 60's who transferred 300 thousand euro after being contacted online. Another involved a woman who had 50 thousand euro stolen after responding to a social media ad about a cryptocurrency investment. Gardaí are advising people to always get financial and legal advice and check via the Central Bank website to see if companies are regulated.
