Bank of Ireland warned on 30 September 2026 that investment scams reported to the bank rose 27% during the first half of the year compared with the same period in 2025. Its warning highlighted fabricated endorsements, fake news articles and AI-generated videos designed to make fraudulent opportunities appear credible.
For people approaching retirement, protecting accumulated savings matters as much as seeking returns. The bank explained that criminals can spend weeks or months maintaining contact, offering reassurance and creating the impression of successful investing. A polished website and a familiar voice can build confidence without providing independent evidence.
Why Familiarity Can Create False Trust
Regular conversations may make an investment representative feel dependable. However, Bank of Ireland cautioned that professional documentation, online advertisements and repeated contact do not establish legitimacy. Treat these as presentation, rather than proof.
The Central Bank of Ireland also warns about cloned firms. Criminals copy genuine businesses, sometimes borrowing their registration details and addresses. Finding a familiar company name is therefore only the beginning of verification.
A Step-by-Step Guide to Checking an Investment Opportunity
Before committing retirement money, work through these checks. Keep your assessment separate from the person selling the opportunity.
1. Pause Before Responding
Ask how the offer reached you and whether you feel pressured. The Central Bank of Ireland identifies unexpected approaches, guaranteed returns and demands for quick decisions as warning signs. Decline artificial deadlines and give yourself time to investigate.
2. Verify the Business Independently
Search for the firm yourself. Avoid relying on links, telephone numbers or documents supplied by its representative. Call through independently verified contact details and ask whether the person and specific offer belong to the genuine business.
3. Check Regulatory Registers
For an Irish offer, consult the Central Bank of Ireland registers and warning notices. Match the legal name and contact information carefully. Its guidance stresses that scammers impersonate authorised firms, so a register entry alone does not authenticate whoever contacted you.
4. Examine the Payment Request
Ask who will receive the money and why that payment method is required. The U.S. Securities and Exchange Commission flags investment payments involving gift cards, crypto assets, overseas wire transfers and payment apps as suspicious. Pause any transfer until you can independently explain and verify the arrangement.
5. Seek Another Perspective
Discuss the proposal with someone you trust and obtain independent financial advice. Ask about costs, access to your money and potential losses. The U.S. Securities and Exchange Commission cautions that even genuine celebrity endorsements do not establish whether an investment suits you.
Keep Year-End Decisions Deliberate
Before making a year-end commitment, repeat the checks rather than relying on earlier conversations. Set a personal rule: no transfer while questions remain unanswered. Keep copies of communications and your verification notes.
If you suspect money has already gone to a scam, Bank of Ireland advises contacting your bank immediately and making no further payments. Be cautious of recovery offers, which may be another fraud. Protecting retirement savings starts with allowing enough time to verify before acting.
