Central Bank warns of new financial scams in Ireland
Consumers are advised to verify online offers, use reputable services, and report suspected scams to authorities.
The Central Bank of Ireland has launched a new campaign to alert consumers to increasingly sophisticated scams targeting financial services users. Officials warned that scammers are adapting, making caution essential with online offers and investments.
Scammers are now using tactics such as fake comparison websites that appear legitimate but collect personal information for fraudulent products or services. Fraud recovery schemes are also common, promising to recover lost funds for an upfront fee, which often leads to further financial loss.
Advanced techniques include AI-generated social media profiles and ads, or ‘deepfakes’, impersonating public figures to promote fake investment platforms.
Deputy Governor Colm Kincaid warned that scams now offer slightly above-market returns, making them harder to spot. Consumers are encouraged to verify information, use regulated service providers, and seek regulated advice before making financial decisions.
The Central Bank advises using trusted comparison sites, checking ads and investment platforms, ignoring unsolicited recovery offers, and following the SAFE test: Stop, Assess, Factcheck, Expose. Reporting suspected scams to the Central Bank or An Garda Síochána remains crucial to protecting personal finances.
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