Investment Scam

What is the scam?

A scam that tricks you into investing your money into a fake, but often convincing opportunity.

How does the scam work?

• Customers looking to invest will browse the internet for opportunities. When they find one, they are usually asked to fill in a contact form.
• If they have landed on a fake site the fraudster will contact them and provide sophisticated supporting material – high end brochures and documents.
• Some even have fake videos and articles from celebrities endorsing the investment.
• Some may mimic genuine employees from legitimate company or bank.
• All scams offer an investment that is too good to be true and usually pressure the investor to make fast decisions and payments to ensure they get the best return.

How to stop this scam

• Always check if the company is authorised by a financial regulator to deal in investments.
• Get independent financial advice before sending any of your money.
• Never allow the fraudster access to your personal or financial details.
• Do not respond to high pressure tactics.

The Central Bank of Ireland advises that Consumers should take the SAFE test before making any financial decisions or providing any personal information:

S – Stop: Stop, think and ask yourself – What? Who? Why? Do I feel rushed to act?

A – Assess: Make sure the firm is genuine

F – Factcheck: get advice to ensure service or product is genuine

E - Expose and report: any concerns contact the Central Bank and your own bank.

Remember: If it sounds too good to be true, it certainly is!