With a 27% rise in investment scams reported to Bank of Ireland in the first half of 2026 compared to the same period last year, the Bank is encouraging consumers to carry out simple, independent checks when considering investment opportunities.
Ahead of International Day of Older Persons on 1st October 2026, Bank of Ireland is highlighting the importance of protecting savings and being aware of potential scams.
People approaching retirement may have access to significant savings or a pension lump sum, prompting them to explore investment options to maximise and protect their financial security.
Investment opportunities advertised online or through social media can look highly professional, with convincing websites and documentation. Fraudsters can spend considerable time building trust and maintaining regular contact before asking someone to transfer money. It is important to independently check an investment, even when an opportunity appears genuine.
Nicola Sadlier, Head of Fraud Protection, Bank of Ireland, said: “People approaching or entering retirement may have spent decades building up their savings and may be considering how best to invest for the future.
“Investment scams can use professional-looking websites and documentation and spend weeks or months building trust and providing reassurance. They may also use fake celebrity endorsements, fabricated news articles and AI-generated deepfake videos to make an investment opportunity appear legitimate. In many cases, they will continue to build rapport over time, creating the impression of a successful investment and encouraging people to invest larger sums. All of this can make a fraudulent investment appear genuine and credible.”
“Our advice is to stop, think and check. Carry out independent checks before investing. Be particularly cautious of investment opportunities advertised on social media or online, even if they look professional. Check the Central Bank of Ireland’s warning notices, independently verify the company and its contact details, and talk to someone you trust before transferring any money.”
Simple checks before you invest
Stop:
- Before transferring any money, stop and take a moment to consider the investment.
Think
- Consider how the investment came to you and what you know about the company or person offering it. A professional website, online advert or regular contact is not enough on its own to confirm an investment is genuine.
Check
- Check the investment and company independently. Search for the company yourself, verify its contact details and check the Central Bank of Ireland’s warning notices. Don’t rely solely on the information or links provided to you.
- Consider discussing the investment with a family member, friend or trusted adviser before transferring money.
If people think they have transferred money to an investment scam, contact your bank immediately. Be cautious of anyone offering to recover it. This could be another scam. Don’t make any further payments.
Bank of Ireland customers can call the Fraud Team 24/7 on freephone 1800 946 764.
