AIB is urging customers to remain alert to investment scams as fraudsters deploy increasingly sophisticated tactics to deceive individuals into parting with their money.
AIB's Fraud Trend report for the third quarter of 2025 reveal a worrying trend with scammers targeting individuals through social media platforms, WhatsApp groups, fake cryptocurrency platforms, and professional-looking websites.
In one instance, a customer was convinced to transfer over €150,000 after being told they owed capital gains tax before they were promised they would receive returns. Another scam victim lost €35,000 after trusting an intermediary who claimed to be investing on their behalf.
AIB also said that a customer saw an advert on Instagram that claimed high profile celebrities were investing with them. He contacted the investors and was told to open an account and started to invest small amounts at first.
The criminals used remote screen sharing software along with requesting personal and financial information to show him how his investment was growing. The customer invested more than €200,000 over a nine month period.
The bank also said that customers who have previously fallen victim to investment scams are often contacted again by criminals who claim to be able to retrieve the original investment for a fee. This results in the customer losing more money on top of the original sums taken from them, but unfortunately some customers, who are often panicked and desperate, believe the scammers again.
Mary McHale, AIB Head of Financial Crime, said these investment scams are clever and convincing, often involving large sums of money.
"If something seems even slightly too good to be true, it probably is. That's why you should wait a sec and double check and never move your money to another account without verifying the legitimacy of the firm and the individual you're dealing with. Never rush into payments under pressure," she urged.
Ms McHale said AIB recommends that customers who wish to invest seek independent financial advice before parting with their money.
"We are continuously investing to enhance our fraud monitoring systems in response to new and existing fraud trends," she said.
"We also work closely with industry stakeholders including telecommunications companies, the Banking and Payments Federation of Ireland (BPFI), and the Gardaí to detect and report fraud trends, as it's only by communicating and coordinating across the whole of society that together we can be effective in combating these criminals," she said.
"Fraud is not just a crime for banks to urge caution over, the tech platforms which both host and profit from fraudulent ads also have to be part of a holistic solution," she added.
