Gardaí warn of 120% increase in investment fraud scams during pandemic

"One case involved a retired professional from the Midlands who lost his entire pension and savings of nearly quarter of a million euro"

Chief Superintendent Pat Lordan said that this sort of crime is often underreported due to embarrassment. File picture: PA

There has been a 120% increase in investment fraud scams during the Covid-19 pandemic with one person losing almost a quarter of a million euro.

Gardaí said that due to increased online traffic during the pandemic, such scams are “becoming more prevalent”.