Police are reminding the public to be vigilant against investment fraud, following a report that an elderly man has lost a significant amount of money to a scam.

The criminals behind these schemes often promise high returns with little to no risk, but investment opportunities, particularly those involving cryptocurrency, can lead to devastating financial losses if they are not legitimate.

Detective Inspector Harris said that if an offer "sounds too good to be true, it usually is." He noted that fraudsters are skilled at creating professional-looking websites and using persuasive tactics. In the reported case, a "clone company" had been set up to urge the man to invest.

Police are advising the public to follow the Stop. Check. Report rules to protect themselves from this type of crime. • Stop: Do not feel rushed or pressured to transfer money or disclose personal details. Genuine companies will always give you time to consider your options.

• Check: Verify who you are communicating with using a trusted source. You can also check if the company is authorised by the Financial Conduct Authority (FCA), as regulated investment activity is governed by the FCA.

• Report: If you have been a victim of a scam, report it to the police online at www.psni.police.uk/makeareport or by calling 101. You should also contact your bank immediately and report the fraud to Action Fraud online at www.actionfraud.police.uk or by calling 0300 123 2040. Scam texts can be forwarded to 7726.

Further information and advice can be found at www.nidirect.gov.uk/scamwiseni or on the ScamwiseNI Facebook page.