An investment scam occurs when a criminal tricks someone into investing money to a scheme or venture that does not exist, ultimately transferring funds to the fraudster’s account. The scams promise attractive returns that are usually higher than other retail investment opportunities.
Common investment scams include shares, bonds, cryptocurrencies, pensions and overseas land investment.
If you think you may have fallen victim to an investment scam:
- Contact both your bank and An Garda Síochána as soon as possible.
- Be wary of a repeat scam. If you’ve been a victim of fraud in the past, whoever took your money may keep your contact information and contact you again. This time, they’ll claim they can recover the money you lost but you’ll need to pay a fee first. Hang up on any callers that claim they can get your money back for you.
Sign up to FraudSMART alerts to protect yourself against scams – go to www.fraudsmart.ie