The Irish Daily Mail reported that pensioners are being scammed out of their savings by depositing their eggs with fake investment firms masquerading as real companies.
Experts have warned that people over the age of 65 are being targeted by ads they see online and on social media.
Scammers also targeted teachers, farmers and nurses. The Banking and Payments Federation of Ireland (BPFI) said such scams cost Irish citizens tens of thousands of euros and were different from simple scams such as emails and text messages.
Fraud expert Niamh Davenport, head of the BPFI’s FraudSMART initiative, said the people who are losing money are people who are putting their life’s savings into it. She said in an email: “This is what we’re seeing more and more.” Much of that is likely due to people’s lack of interest in saving and the current cost of living crisis.
“But this is different from the usual scams, and you see people actually looking for these investments.
Ms Davenport said people “see ads online, fill out standard contact forms with emails and phone numbers, and get in touch.” She added, “Scammers are often found on seemingly legitimate investment comparison websites that use the names of genuine investment firms or trusted names in the banking industry.”
“What we are seeing is that people are being sent these very impressive pamphlets claiming that investors are getting very good returns on their money.
“It’s almost a double attack. You were personally looking for these deals and someone came back and showed you a professional one and said you could make a lot of money.” But then the information was sent and the person never heard from me again.”
Early indications suggest that the scam specifically targets the 55+ age group with a minimum investment of €20,000 and often above.
While the amounts may seem high, it is important to point out that the victims are not necessarily wealthy clients, but often low- to average-income people who have worked hard all their lives to build up their pensions. said Davenport.
These people are in the process of looking for one last chance to replenish their funds for retirement, she said. MS
“We would all like to believe that we can tell when we see a scam, but the truth is anyone can fall victim to a scammer if they are not vigilant,” Davenport added. rice field.
“For consumers, especially those nearing or reaching retirement age, who are currently a major target group, fraud presents a very compelling investment opportunity, and once ” It is very important to realize that money ‘invested’ is lost. There is no compensation once the funds are handed over to an unregulated “company”.
A rule of thumb, she said, is, “If it sounds too good, it probably is.”
Gardai urges people to be aware of the red flags of this type of fraud. These shortcomings have certain characteristics, they said, with a spokesperson saying, “Common investment scams include lucrative investment opportunities in stocks, bonds, cryptocurrencies, rare metals, overseas land investments and alternative energy. It could be,” he added.
“Always seek unbiased financial advice before handing over or investing money. Reject calls about investment opportunities and accept offers that promise safe investments, guaranteed returns, or large returns. Please doubt me.”
“Also, be aware of upcoming scams. If you have already invested in a scam, scammers may target you again or sell your details to other criminals.” I have.”
