AIB has warned customers to beware of a number of new investment scams in circulation targeting people in the Republic, where the names and job titles of genuine bank staff are used by fraudsters to entice individuals to part with their money.
Most of these scams bear similar hallmarks with minor variations, with fraudsters contacting individuals purporting to offer investment products often from legitimate, well-known names in financial services, the bank said.
The scammers have also been known to share sophisticated brochures and materials that appear legitimate.
Time pressure
After the person fills out all the relevant “documents”, they are asked to transfer their money to an account which they later realise does not belong to the financial services firm and their money has been stolen. This often happens under a degree of time pressure, for example “to get the best rate of return”, AIB said.
“Investment scams can be very distressing for people as they often take place after much consideration and involve significant amounts of money, in some cases, people’s life savings,” said AIB head of financial crime Carol Lawton. “These scams can be very sophisticated, with high-end, often authentic brochures and other materials used to trick people into investing. We know criminals also use legitimate names and job titles of people working in banks such as AIB or others.”
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AIB always urges people to be extremely cautious and vigilant at all times.
“Check the contact details provided in any material against what is on the company’s official website. Do not call the number provided on the email, check that any website you use is authentic, check that any company you engage with is genuine and validate that it’s actually them you’re engaging with, take advice from regulated financial advisers and remember, if it seems too good to be true, chances are it is,” it said.
