Investment Scam Alert

Over 50s Urged to Stay Alert for Investment Scams

The Banking & Payments Federation of Ireland (BPFI) has issued a warning to people over-50 who are being targeted in a new scam. It is being facilitated by AI-generated ads using trusted public figures, which are fake. The ads promote bogus investments for people who are close to the retirement age and are looking to boost their savings.

With an increase in such scams in the three months leading up to October 2025, average losses are estimated to be in the €30,000 to €40,000 range.

Recent Investment Scam Trends

• Gardaí recorded a 21% jump in investment fraud in late 2025.
• Reported losses of €31 million in 2024, up from €14 million in 2021.
• Victims often targeted through copycat websites and fake financial advisors impersonating real institutions.

Investment Scam Target Group

• Over-50s targeted: Scammers are increasingly focusing on people nearing or in retirement looking to boost their savings.

Method

• Fake celebrity endorsements: Sharp rise in AI-generated ads featuring trusted public figures promoting bogus investments.
• Online “pop-up” scams: Victims are lured through social media ads linking to fake financial advisors and imitation company websites.

An example was presented which read as follows

• Consumers who click on “Learn More” in the pop-up advert are asked to fill in a short form with their contact details so that they can receive more information.
• This is followed by a call from a so-called ‘financial advisor’ of an investment company.
• The ‘advisor’ often uses the names and branding of well-recognised banks and investment firms, with some fraudsters even going so far as to create a ‘copy-cat’ profile on social media of a real employee or ‘agent’ from an investment firm to convince people of their legitimacy and may even send an email with a link to what looks like a high-end and very convincing brochure.
• Once the victim is convinced to make an investment and has authorised the payment, as soon as the money has reached the criminal’s account, the criminal will quickly transfer the money onwards to numerous other accounts, often abroad, where it is then cashed out.”

FraudSMART Advice
FraudSMART by BPFI has issued some advice that can help individuals be cautious of such scams and help them spot check such ads.

• Pause and verify: Never share personal or banking details via online pop-ups or unsolicited links.
• Research before investing:
  • Check the Central Bank Registers (centralbank.ie) to confirm authorisation.
  • Contact companies directly using details from official websites.
• Be sceptical of celebrity-backed offers: Real endorsements rarely involve investment opportunities.
• Take your time: Legitimate investments never pressure you to act quickly.
• Seek advice:Always consult a regulated financial advisor before transferring money.
• Report immediately: If you believe you’ve been scammed, contact your bank and An Garda Síochána without delay.
• Check before you click: Use ScamChecker.ie  to verify websites or investment offers.