Fraudsters targeting older bank customers

Over half of the reported cases of investment fraud have been reported by customers aged 65 and older, according to Bank of Ireland data from the first half of 2025.

Victims of investment fraud can stand to lose significant sums of money including their savings.

Investment fraud happens when fraudsters, posing as legitimate firms, offer consumers investment opportunities on social media or in a sponsored search result. A common tactic is to promise high returns and then put people under considerable pressure to commit to the investment opportunity quickly.

The majority of investment fraud cases begin on social media, with customers then receiving phone calls and messages to continue the scam.

The advice for customers is as follows:

Always check that a company is legitimate before engaging with them in any way around your finances. You can check whether a company is authorised to give financial advice by checking the Central Bank of Ireland Register here.

Do not give your details via social media ads offering investment advice.

Stay calm if you get pushy calls offering you investments, don't feel rushed or pressured to respond.

Don't commit and always seek advice before making decisions.

Stop the call if you feel pressured or if the caller won't take no for an answer, end the conversation and don't be embarrassed to put the phone down.

If you think you have a been a victim of fraud, contact your bank immediately, on a number you trust. Bank of Irelands’ 24/7 dedicated fraud line is 1800 946 764.