AIB has warned that a number of investment scams are in circulation, purporting to be from AIB or other banks, and which use genuine staff names and job titles.
The bank cautioned that if a scheme seems too good to be true, chances are it is.
AIB said that most of the investment scams bear similar hallmarks with minor variations.
A person is contacted by a bad actor or a fake website, purporting to offer investment products often from legitimate, well-known names in financial services.
The scammers share sophisticated brochures and materials that appear legitimate and they may also use legitimate names and job titles from people in AIB or other banks, along with a fake email address.
After the person fills out all the relevant "documents", they are asked to transfer their money to an account which they later realise does not belong to the financial services firm and their money has been stolen.
It said this often happens under a degree of time pressure, for example "to get the best rate of return".
AIB's Head of Financial Crime Carol Lawton said investment scams can be very distressing for people.
"These scams can be very sophisticated, with high end, often authentic brochures and other materials used to trick people in to investing. We know criminals also use legitimate names and job titles of people working in banks such as AIB or others," she said.
AIB said it always urges people to be extremely cautious and vigilant at all times.
Customers are urged to check the contact details provided in any material against what is on the company's official website.
They should also not call the number provided on the email and should check that any website they use is authentic.
Customers are also urged to check that any company they engage with is genuine and validate that it is actually them they are engaging with and take advice from regulated financial advisors.
AIB urges people to
- Ensure you verify the contact details by checking the official company's website.
- Do not call the number provided on the email. Search and confirm the phone number using the bank’s website.
- Customers can also cross reference email addresses to ensure they are aligned with the format of the firms existing email addresses as shown on their website.
- You can also ensure any website you use is secure and genuine by checking for the padlock symbol to the left of the web address and if it’s not there, beware.
- Check the advisor out, look them up to see if their business exists by ensuring their office location and telephone number are genuine.
- Call your bank before you make the payment and ask them to check the transaction and beneficiary account. This one call could save your money from being stolen by fraudsters.
- Check the Central Bank's consumer hub and its list of unauthorised firms for guidance on how to protect yourself from financial scams. Simply enter "search for unauthorised firms" on centralbank.ie.
- Always seek investment advice from a regulated financial advisor even when recommendations are made by people you trusted, such as family or friends.
