Bank of Ireland has issued an urgent warning to consumers following a spike in reported investment fraud cases during 2026. This specific type of crime is highlighted as one of the most devastating forms of financial fraud, frequently resulting in the loss of significant sums or entire life savings.

The typical strategy used by criminals involves impersonating reputable investment firms. These fraudsters often use paid search results or social media advertisements to promote fraudulent opportunities, enticing victims with the promise of high or "guaranteed" returns. Once contact is established, they apply heavy pressure to force individuals into making quick financial commitments.

According to the bank, most cases begin with a social media post, which is then followed by persistent phone calls or messages. These interactions are carefully designed to build a sense of trust and urgency before extracting funds. Allison Ewing, Fraud Manager for Education & Awareness at Bank of Ireland, commented: "Financial criminals have one common goal – to take your money – and everyone, regardless of age or circumstance, needs to stay alert. When it comes to investment fraud, we are seeing a significant number of cases originate on social media and technology platforms. While fraudulent ads should be prevented from appearing, many still get through, and we are calling on these companies to do more to tackle this criminal activity and better protect consumers."

She added: "Spotting red flags – such as pressure to act quickly or promises of unusually high returns – can make all the difference."

To help the public stay safe, Bank of Ireland has provided the following guidance:

• Check legitimacy: Verify that any firm offering investment services in the UK is listed on the Financial Conduct Authority (FCA) Register.

• Be wary of social media: Never share personal or financial information in response to online ads without independent verification.

• Stay calm: Do not be rushed by the sense of urgency or pressure tactics used by fraudsters.

• Seek independent advice: Always consult a neutral party before making major financial decisions.

• End the conversation: If a caller is pushy or refuses to take no for an answer, hang up immediately.

Bank of Ireland is currently running a region-wide series of free fraud awareness events and provides dedicated training to community groups.

If a customer suspects they have been targeted, they are urged to act quickly. Bank of Ireland customers can reach the 24/7 fraud support team on Freephone 0800 121 7790 or by dialling 159. Further safety information is available at the Bank of Ireland UK Security and Fraud hub.