- Ads feature fake images or videos of high-profile politicians and businesspeople
- New figures from An Garda Síochána show an increase of over 20% in reports of investment fraud in 2025 compared to 2024, with more than €20 million in losses
- Trends show that many victims of investment scams are in their early 50s planning for retirement
- FraudSMART partners with Age Friendly Ireland to raise awareness at community events
There has been a recent surge in AI-generated online adverts promoting bogus state-backed investment schemes, according to FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI), as consumers are warned to be on alert. The ads feature fake images or videos of high-profile politicians and businesspeople encouraging consumers to click a link to register for the scheme. This is the latest trend in an ongoing wave of investment fraud in recent years, particularly targeting people in their 50s who may be looking for investment opportunities ahead of retirement. New figures from An Garda Síochána show an increase of over 20% in reports of investment fraud in 2025 compared to 2024, with more than €20 million in losses. This upwards trend is continuing into 2026.
Niamh Davenport, Head of Financial Crime with BPFI, said:
“We are seeing a worrying rise in AI-generated online adverts featuring fake images and videos of well-known and trusted politicians and businesspeople. Fraudsters are exploiting recent news coverage of a planned state-backed savings and investment scheme to make their adverts appear legitimate. They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly. They typically promise guaranteed returns or a guaranteed monthly income. While these scams are targeted at people of all ages, recent trends show that many victims of investment scams like these are in their early 50s, often at a stage in their life where they are actively managing savings or making longer‑term financial decisions for retirement.”
Describing how the scam works, Ms Davenport continued:
“Most investment scams tend to follow a similar pattern. Consumers are encouraged to click on a registration link and asked to fill in a short form with their contact details to receive more information. They may then receive a call from a so-called 'financial advisor’ urging them to make an immediate ‘security deposit’ to secure their place on the scheme. Once the victim is convinced and has authorised the payment, the criminal will quickly transfer the money through multiple accounts, often overseas, where it is then cashed out.”
Reports of investment scams to Gardaí rose by over 20% of in 2025 with over €20 million in losses
Commenting on wider investment scam trends, Michael Cryan, Detective Superintendent at the Garda National Economic Crime Bureau stated:
“Reports of investment fraud in Ireland rose by over 20% in 2025 compared to 2024, with over €20 million in losses. This upwards trend is continuing into 2026. Individual losses can start anywhere from €250 on a crypto scam, but for bigger investment scams involving bonds and shares, it can start anywhere from €10,000 and can increase significantly beyond this. While the amounts may seem high, victims are not necessarily wealthy individuals. They are often ordinary people who have worked hard to build up a pension or savings and are looking for an opportunity to strengthen their finances ahead of, or during, retirement. We would urge everyone, particularly those aged over 50, to be alert to these scams and, if they believe they may have fallen victim to investment fraud, to contact their bank and An Garda Síochána immediately.”
FraudSMART partners with Age Friendly Ireland to raise awareness at community events
Catherine McGuigan, Chief Officer, Age Friendly Ireland added:
“These are very serious scams that can have a life-changing impact on victims. The best defence against these fraudsters is knowledge and Age Friendly Ireland is pleased to partner with FraudSMART to raise awareness at community events across the country in the coming weeks and months and help people recognise the warning signs. It is so important to pause, take time to check, and speak to someone you trust before responding to any unexpected offer. Importantly, people should not feel embarrassed if they are caught out. These scams are designed to appear genuine and can be very difficult to spot, which is why any of us can fall victim. I’d appeal to anyone who has shared personal information or transferred money and realise it might be a scam, to talk to a family member or trusted friend and report it to your bank and the Gardaí as soon as possible.”
How to protect yourself from investment scams:
- Never share personal or banking details with unknown individuals or companies.
- Be wary of online adverts and videos: Fraudsters use fake ads and videos featuring well-known public figures to promote bogus investment offers. Avoid clicking on links and always search for the company or investment directly through a trusted source.
- Pause and take your time: Legitimate investment opportunities will never pressure you to transfer money immediately.
- Research thoroughly: Check the firm’s credentials, reputation and history. Confirm that it is authorised by checking the Central Bank Registers at registers.centralbank.ie and contact the firm directly using details from its official website or another reputable source.
- Seek trusted advice: Talk to a regulated financial or legal professional and discuss with family or friends before making any investment.
- Use Scamchecker.ie: Before engaging or investing online, use Scamchecker.ie to help verify that a website is legitimate.
Download the FraudSMART Spotlight on Investment Scams information leaflet here and visit www.fraudsmart.ie for further information and to sign up to alerts.
