An Garda Síochána is advising the public to pay “particular close attention” when considering potential investments, after a 77% rise in reports of investment fraud this year.
Investment fraud involves criminals posing as investment managers to fool someone into investing money in schemes and projects that do not exist.
The average amount stolen from victims so far this year is €33,431.
Almost 70% of these victims are aged over 40 (65% male, 35% female).
At this time last year, €11 million had been stolen from victims of investment fraud in Ireland. This has now increased to 18.6 million at the same time in 2023.
Gardaí warn that these sophisticated criminals are taking advantage during a period of high cost of living, by cloning webpages and targeting victims through online and social media adverts.
These adverts commonly promise “once in a lifetime opportunities” to instantly invest with fast and large financial returns.
Detective Superintendent Michael Cryan of the Garda National Economic Crime Bureau said:
“Between 2021 and 2022, over €25 million was stolen through investment fraud from ordinary people all over Ireland.
“Be wary where the return being offered sounds too good to be true or where there is a degree of urgency or you are being offered a once in a lifetime opportunity.”
An Garda Síochána has issued the following pointers to avoid falling prey to these investment scammers.
