Banks warn of investment scam targeting previous victims

fraud

Fraudsters are using deceptive and elaborate techniques using names and branding of well-recognised banks and investment firms while scams range from anywhere from €1,000 to €10,000

The banking industry has identified a trend of fraudsters re-targeting people who have already fallen victim to an investment scam.

Victims have been contacted by scammers, promising to recover their money.

The Banking & Payments Federation Ireland (BPFI), whose FraudSMART initiative has issued a warning, said people aged over 50 are particular targets.

“While investment scams have been circulating for a while, FraudSMART members have noticed a continued and significant increase in the past few months …