- Scammers targeting people over 50 who may be looking for an opportunity to top up their finances ahead of, or during, retirement
- Gardaí have recorded a 21% increase in investment scams in the three months up to October 2025
- Average individual losses range between €30,000 - €40,000
- FraudSMART joins forces with football legend Niall Quinn to launch new awareness campaign
- FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI), is issuing a fresh warning to consumers, particularly those over the age of 50, to be on alert as highly-convincing investment scams, promising guaranteed and profitable returns, continue to rise. The latest trend has seen a marked increase in the use of pop-up adverts online and on social media, featuring fake, AI-generated endorsements from celebrities as FraudSMART joins forces with football legend Niall Quinn to launch a new awareness campaign.
Niamh Davenport, Head of Financial Crime with BPFI, said:
“Scammers are continually finding new and complex ways of luring people into investment scams, often targeting people over 50 who may be looking for an opportunity to top up their finances ahead of retirement or, to boost their current pension. In recent months, FraudSMART members have noticed a particular rise in ‘pop-up’ adverts featuring fake, AI-generated endorsements from well-regarded and trusted celebrities. These scams can promote a wide range of supposed investment opportunities, from cryptocurrencies to more traditional options such as bonds or shares. They can be difficult to recognise as fake, leading to an increasing number of people falling victim.”
Describing how fraudsters are catching people out, Ms Davenport continued:
“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, needless to say not from the featured celebrity, but 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.”
Gardaí have recorded a 21% increase in investment scams in the three months up to October 2025
Niall Smith, Detective Sergeant at the Garda National Economic Crime Bureau stated:
“Last year almost €31 million was reported stolen in Ireland through investment fraud, up from €14 million in 2021. While overall reports of investment fraud have remained consistent with 2024 levels, a concerning 21% increase has been recorded in the three months up to October 2025, with large sums of money reported stolen. Losses can start anywhere from €250 on a crypto scam, but for bigger investment scams involving bonds and shares, average individual losses are ranging between €30,000 - €40,000 and unfortunately, there are victims who have lost multiples of this. While the amounts may be high, victims are not necessarily wealthy, but often people who have worked hard to build up a pension and are looking for a last opportunity to top up their finances ahead of or during retirement. We would like to advise all members of the public, particularly those over the age of 50, to be on alert for these scams and if you believe you may be victim of investment fraud, to report it to your bank and An Garda Síochána as soon as possible. Always seek trusted advice before making any investments and if an offer sounds too good to be true, then unfortunately it probably is.”
FraudSMART joins forces with football legend Niall Quinn to launch national awareness campaign
FraudSMART has joined forces with football legend Niall Quinn to launch a nationwide campaign to raise awareness about these investment scams, the red flags to look out for and tips on how people can protect themselves.
Mr Quinn stated:
"I’m delighted to partner with FraudSMART to highlight these devastating scams. In today’s world it is harder than ever to tell what’s real or fake and unfortunately, we all need to be extra vigilant. If you see an advert online featuring a well-known person, whether it’s through sports, music, TV or film, ask yourself if they’re really the best person to give financial advice? Having been involved in high-level financial decision throughout my career, I understand the critical importance of thorough due diligence and relying only on credible, verified sources. My advice is simple: always pause, verify, and stay FraudSMART."
Pause for thought and don’t share your personal details through a ‘pop-up’ advert
Pointing to how consumers can protect themselves from these scams, Ms Davenport concluded:
“While banks are using a range of measures to protect customers, because fraudsters are targeting consumers directly with these scams, it is important for us all to know how to protect ourselves. Pause for thought, don’t share your personal details through a ‘pop-up’ advert and contact the company independently to verify. If you have shared your personal information or bank details or transferred money and realise it might be a scam, report it to your bank and the Gardaí immediately.”
What to look out for to avoid investment scams:
- Never share personal or banking details with unknown individuals or companies.
- Be wary of online pop-up ads: Fraudsters use fake ads featuring well-known celebrities to promote bogus investment offers. Avoid clicking on these 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. Check the Central Bank Registers to confirm the firm is authorised, registers.centralbank.ie and contact the investment firm directly using numbers from their official website or other reputable independent 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 the website’s legitimacy.
Download the FraudSMART Spotlight on Investment Scams information leaflet here and visit www.fraudsmart.ie for further information and to sign up to alerts.
