Limerick Gardaí issue advice after man scammed for almost €200,000 online

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GARDAÍ in Limerick have issued a renewed warning against investment fraud after a man from the west of Ireland was scammed out of almost €200,000.

Between January 2020 and January of this year, Gardaí say that 965 people reported being the victim of an investment fraud.

In January of this year, a man in his 70s in the west of Ireland lost €190,000 to a scam he believed was connected to a legitimate British business.

In 2023, another man was scammed out of €300,000 when he was contacted online by someone purporting to be from a British financial institution encouraging him to invest with them.

After being convinced by the person he was talking to, the man transferred €300,000 to the company which subsequently disappeared.

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Gardaí say that investment fraud usually takes the form of scammers online posing as investment managers who convince people to invest large sums of money in schemes and projects that don’t exist.

Limerick Garda Sergeant and Crime Prevention Officer Ber Leetch said that there are some simple steps people can take to avoid becoming victims of investment fraud.

Do not invest in anything until you get reliable financial and legal advice. Check the status of the company via the Central Bank of Ireland webpage. Do not respond to pop-up ads or social media ads for investing,” Sgt Leetch said.

Never allow anyone remote access to your computer or download Apps that can give others control of your computer – AnyDesk is one example. Never disclose personal data or bank account passwords or codes.”