Fraud alert: Investment scams on the rise

 

 

Bank of Ireland is urging consumers to be alert to investment fraud following an increase in reported cases in 2026.

Investment fraud is among the most financially damaging forms of fraud, with victims often losing substantial sums of money, in some cases, their life savings.

Investment scams typically involve criminals posing as legitimate investment firms and promoting fraudulent opportunities via social media platforms or paid online search results. Fraudsters commonly promise high or “guaranteed” returns, while applying significant pressure on individuals to commit quickly.

The majority of reported cases begin with an advertisement or post on social media, followed by phone calls or messages designed to build trust, escalate urgency and extract funds.

Advice for customers

Bank of Ireland is urging customers to remain vigilant and follow these steps to protect themselves:

Check legitimacy: Always verify that a company is genuine before engaging with them about investments. Anyone offering investment services in the UK must be listed on the Financial Conduct Authority (FCA) Register.
Be wary of social media ads: Never provide personal or financial details in response to social media advertisements offering investment opportunities or advice without separately confirming their legitimacy.
Stay calm: Fraudsters often use urgency and pressure. Take time to think and don’t feel rushed into responding.
Don’t commit alone: Always seek independent advice before making any financial decisions.
End the call: If someone is pushy or won’t accept no for an answer, hang up. Don’t feel embarrassed about ending the conversation.
Act quickly if concerned: If you think you may have been targeted or have fallen victim to fraud, contact your bank immediately using a trusted phone number.
Bank of Ireland customers can contact the Bank’s 24/7 dedicated fraud support team on Freephone 0800 121 7790 or by dialing 159, the secure short code that connects customers directly with their bank.

Allison Ewing, Fraud Manager for Education & Awareness at Bank of Ireland, said:

“Financial criminals have one common goal, to take your money and everyone, regardless of age or circumstance, needs to stay alert.

When it comes to investment fraud, we are seeing a significant number of cases originate on social media and technology platforms. While fraudulent ads should be prevented from appearing, many still get through, and we are calling on these companies to do more to tackle this criminal activity and better protect consumers.

At Bank of Ireland, we operate one of the most comprehensive consumer fraud awareness programmes, focused on safeguarding customers’ financial wellbeing and improving financial confidence. When it comes to fraud, there is no room for complacency. Spotting red flags, such as pressure to act quickly or promises of unusually high returns, can make all the difference.”

Community awareness and support

Bank of Ireland’s fraud team delivers training and education to customers, community groups and organisations nationwide. The Bank has also recently announced a region‑wide series of free fraud awareness events, aimed at highlighting common scam tactics and providing practical advice to help people protect themselves.

Anyone who suspects they may be a victim of fraud is urged to contact their bank immediately, as early action may help stop the scam and increase the chances of recovering funds.

For further guidance on staying safe from financial fraud, including investment scams, visit Security and Fraud.