The Police Service of Northern Ireland is advising the public to remain vigilant following reports of individuals losing substantial amounts of money to highly sophisticated fraud.

Recent investigations into fraudulent cryptocurrency schemes have revealed devastating impacts on victims and their families. Detective Chief Inspector Uel Boyd, from the PSNI's Economic Crime Unit, noted that some victims have lost their entire life savings to online criminals.

According to Detective Chief Inspector Boyd: "These criminals are highly organised, and extremely convincing – often building relationships with people online before persuading them to invest money in what appears to be legitimate investment opportunities."

"Money is transferred and personal and other financial information is exchanged. No matter how the promise of a high financial return is presented, the aim for criminals is always the same – to get you to invest more or for longer."

Data released by the police highlights a significant rise in the scale of financial theft. Between April 2024 and April 2025, 192 reports of investment fraud were recorded in Northern Ireland, totalling a loss of £3,680,161.33. From April 2025 to the present date, there have been 142 reports. While the number of incidents has decreased, the total financial loss has climbed to £5,056,486.54.

Last month alone, a report was filed regarding a "massive, life changing sum of money" lost to a cryptocurrency investment scam. "Not only is there the huge financial hit, but there's also the emotional distress and devastation that has been caused by a loss of this scale. If an investment opportunity sounds too good to be true, it almost certainly is," Detective Chief Inspector Boyd added.

The PSNI strongly recommends that potential investors research the background of anyone offering opportunities and verify their credentials through official registers. If a broker or company cannot be confirmed, the opportunity should be treated with extreme caution.

Detective Chief Inspector Boyd continued: "If you believe you have been targeted by an investment fraud, report it to police immediately on our 101 number, and seek support as soon as possible."

"We are here to help you, and we continue to work closely with partners, including the banking sector, through our ScamwiseNI Partnership to raise awareness of fraud, and inform people of the steps they can take to protect themselves."

To prevent becoming a victim of fraud, the public is encouraged to follow the "Stop. Check. Report." protocol:

Stop – Do not disclose personal details or transfer money to anyone unknown to you. Genuine businesses will not pressure you with rushed timelines.

Check – Verify who you are dealing with via a trusted source. In the UK, anyone offering investment services, including cryptocurrency, must be registered with the Financial Conduct Authority (FCA). Credentials can be checked at register.fca.org.uk/.

Report – Victims should contact the police immediately via 101 or online at www.psni.police.uk/makeareport. You should also notify your bank, report online at www.reportfraud.police.uk, or call 0300 123 2040. Scam texts can be forwarded to 7726.

Additional advice is available through the ScamwiseNI Facebook page or at www.nidirect.gov.uk/scamwiseni. Further resources can also be found via the National Crime Agency.