There has been a significant increase in investment fraud in Ireland that has seen €25 million stolen from people last year.
People are being advised to be alert to criminals posing as investment managers and trying to fool someone into investing money in schemes and projects that do not exist.
In May 2023, a man in his 40s clicked on a social media link advertising investment opportunities and entered contact details. He was later contacted by phone from a person purporting to be from a reputable financial institution about purchasing bank bonds and was defrauded of €100,000. Gardaí said this was “a particularly sophisticated crime” as the victim had access to an online trading app and believed that he could see his funds being traded – but the app itself was fake.
Det Supt Michael Cryan of the Garda National Economic Crime Bureau said: “People are always going to be attracted to the promise of big profits.“Those affected by this type of crime are ordinary people who really unfortunately can lose their life savings, nest eggs or a retirement lump sum.
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Source: NewstalkFM - 🏆 19. / 55 Read more »