Reports of investment fraud up 77% as criminals exploit cost-of-living crisis

On average, almost 70% of victims of investment fraud are aged over 40. Just under two-thirds (65%) are men.

Investment fraud relates to instances where criminals pose as investment managers in a bid to fool someone into investing into projects which do not exist. File Picture: Dominic Lipinski/PA Wire

Reports of investment fraud have risen by 77% so far this year, with criminals exploiting the ongoing cost-of-living crisis to scam victims out of tens of thousands of euro, gardaí have said. 

Investment fraud relates to instances where criminals pose as investment managers in a bid to fool someone into investing into projects which do not exist.