Gardaí in Donegal are warning the public of a massive rise in investment scams.
This type of scam often involves the victim receiving a cold call and being asked to invest in anything from companies to cryptocurrencies. After the money is transferred to the scammer, it is never invested and they instead have taken it for their own gain.
Gardaí say that instances of investment scams have risen by over 90% in the last year, with over €25,360,000 reported stolen by victims in 2023.
Garda advice states that “…the fraudster will sound convincing and claim to have insider knowledge but they are following a well-rehearsed script, they’re prepared for potential questions and they tend to be excellent actors.”
“They may purport to be working with a reputable firm and may even quote authorisation numbers or give the real address of a legitimate firm but this is all a ploy.”
This type of scam is on a rapid rise, with Gardaí saying that reports of such crimes happening have doubled in January and February alone.
Gardaí say that the majority of victims of this crime are male at 69%, with the vast majority of those affected aged over 40.
The public are being advised to pay particular close attention when considering any potential investments given the significant rise in investment fraud, especially if such advice is being offered through a cold call or by someone that you do not know.
