'Everyone needs to be on their guard' – Investment fraud attempts surge 76%

Bank of Ireland says investment fraud is investment fraud is “the most concerning trend we are seeing at the moment”.New research commissioned by the bank has found that investment fraud attempts have surged 76% this year compared to last.

The majority of investment fraud attempts start out on social media with customers then getting phone calls and text messages encouraging them to move forward.Bank of Ireland Head of Fraud Nicola Sadlier said the surge in investment fraud is “the most concerning trend we are seeing at the moment”. The most common way they have been targeted is through text message , followed by phone calls emails .

Despite the rise in fraud, some 43% of people still view themselves as being under little or no risk of fraud in the next six months.Bank of Ireland said the findings show a “high degree of complacency or over-confidence”.

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