AIB warns of scam where fraudsters impersonate genuine staff members 

AIB has warned of a new wave of fraud targeting Irish customers where scammers have been impersonating genuine staff members from financial services to offer fake investment products. Picture Denis Minihane.

AIB is warning of a new wave of fraud targeting Irish customers where scammers have been impersonating genuine staff members from financial services to offer fake investment products. 

Fraudsters are now contacting people by a bad actor or using a fake website which offers products that are often from legitimate, well-known names in financial services, warns AIB.

The scam begins when sophisticated brochures and materials that appear legitimate are sent to people. They may also use legitimate names and job titles from people in AIB or other banks. A fake email address may also be used, for example, [e-mail].

After the person fills out all the relevant "documents", they are then asked to transfer their money to an account which they later realise does not belong to the financial services firm.  This often happens under a degree of time pressure, for example "to get the best rate of return." 

Head of Financial Crime for AIB, Carol Lawton said "investment scams can be very distressing for people as they often take place after much consideration and involve significant amounts of money, in some cases, people’s life savings."

"These scams can be very sophisticated, with high end, often authentic brochures and other materials used to trick people in to investing. We know criminals also use legitimate names and job titles of people working in banks such as AIB or others," she said. 

Ms Lawton said AIB are urging people to be "extremely cautious and vigilant at all times."

"Check the contact details provided in any material against what is on the company’s official website; do not call the number provided on the email," she said. 

"Check that any website you use is authentic; check that any company you engage with is genuine and validate that it’s actually them you’re engaging with. Take advice from regulated financial advisors and remember, if it seems too good to be true, chances are it is.”