Investment fraud attempts surge by 76% in first half of 2024 

New data from Bank of Ireland and Red C reveal 94% of people have been targeted by a fraudster in the past year

Pictured at the launch of Bank of Ireland’s latest fraud consumer awareness campaign Nicola Sadlier, Head of Fraud, Bank of Ireland; in the ‘film noir’ style of FraudWatch: True Crime Stories, a video series that features accounts of real-life fraud attempts. Pic:Naoise Culhane

The volume of investment fraud attempts has surged by 76% compared to the same period in 2023, with the majority of cases originating from social media, new data from Bank of Ireland and Red C reveals.

The type of fraud, which has become increasingly common in recent years, happens when criminals posing as legitimate firms offer consumers investment opportunities on social media or in a sponsored search result.