An Garda Síochána are reminding the public to be aware of the rise in investment fraud scams. Unfortunately such scams are becoming more prevalent, particularly during the pandemic due to increased online traffic and targeting of the general public by criminals using ever increasingly sophisticated means.
An investment fraud scam is a fraud where criminals pose as investment managers, promise quick and high rates of return, and simply steal your money. The fraudster uses various investment schemes such as in rare metals, overseas property, and alternative energy schemes such as carbon credits and forestry.
Promises are made of fast, enormous returns, once in a lifetime opportunities and can be seen to be endorsed by reputable business people or celebrities but this is without their knowledge.
How to avoid Investment Fraud scams?
- If it is too good to be true, it probably is
- Do your own research and be wary of wild claimso Always seek independent financial and legal advice before making any investments
- Check the various registers on the Central Bank of Ireland’s websiteo
- Use regulated investment firms where possible (Virtual assets are not currently regulated in Ireland)
- Do not respond to unsolicited approaches or cold-calls
- Don’t click on links for websites that you don’t know
- NEVER EVER disclose your bank account passwords or codes• NEVER allow anyone remote access to your computer