Over half of investment scams reported by customers aged 65 and older

Ottoline Spearman

Over half of the reported cases of investment fraud have been reported by customers aged 65 and older, according to Bank of Ireland data from the first half of 2025.

Investment fraud is one of the most potentially detrimental forms of fraud, in which victims can lose significant sums of money, including their savings.

Investment fraud happens when fraudsters, posing as legitimate firms, offer consumers investment opportunities on social media or in a sponsored search result. A common tactic is to promise high returns and then put people under considerable pressure to commit to the investment opportunity quickly.

The majority of investment fraud cases begin on social media, with customers then receiving phone calls and messages to continue the scam.

Nicola Sadlier, Head of Fraud, Bank of Ireland, said: “Fraud has no age limit. Our senior customers have spent years building their savings and can lose significant sums to investment fraud in an instant.

"Highly personalised targeting of consumers continues to grow year on year, and we know that fraudsters are deliberately targeting older customers who may have access to savings.

"Everyone, no matter their age, needs to be on their guard.

"When it comes to fraud, there is no room for complacency. Being alert to the ‘red flags’ – including too good to be true returns and pressure to act quickly – is vital.”

Bank of Ireland are highlighting the prevalence of investment fraud among all demographics, reminding everyone of the warning signs. Bank of Ireland runs a consumer fraud awareness programme designed to help safeguard the financial well-being of their customers.

Bank of Ireland provides training to customers, community groups and organisations around the country. To date, they have delivered 80 free fraud awareness events, reaching over 4,500 people.

The Bank of Ireland has the following advice:

• Always check that a company is legitimate before engaging with them in any way regarding your finances. You can check whether a company is authorised to give financial advice by checking the Central Bank of Ireland Register.
• Do not give your details via social media ads offering investment advice.
• Stay calm: If you get pushy calls offering you investments, don't feel rushed or pressured to respond.
• Don't commit: Always seek advice before making decisions.
• Stop the call: If you feel pressured or if the caller won't take no for an answer, end the conversation. Don't be embarrassed to put the phone down.

If you think you have been a victim of fraud, contact your bank immediately, on a number you trust. Bank of Ireland’s 24/7 dedicated fraud line is 1800 946 764.