Investment & Crypto Scams

Fake ads or tips promising massive returns on crypto or forex.

Overview

Investment scams are the most financially devastating, with Irish victims losing millions each year. Scammers create fake cryptocurrency, forex, and investment platforms that show impressive "returns" on sophisticated dashboards. Victims are encouraged to invest more and more, but when they try to withdraw, they discover it was all fake. These scams often use fake celebrity endorsements and target people through social media ads.

Common Approaches

How scammers typically operate in this category:

•Social media ads with fake celebrity endorsements (Ryan Tubridy, Leo Varadkar)
•Professional-looking fake trading platforms with fake "profit" dashboards
•"Investment advisors" who build personal relationships via WhatsApp
•Initial small "profits" to build confidence before asking for larger sums
•Requests for "tax" or "fees" before allowing withdrawals (there is no money)
•Recovery scams targeting previous victims claiming to get money back

Scams in this Category (4)

Investment Scam – Fake Crypto & Forex

Trending

Fake cryptocurrency or forex schemes promising guaranteed high returns with fake dashboards.

Critical

Bates Finance Limited Clone Investment Scam

The Central Bank of Ireland has warned that a firm using the name "Bates Finance Limited" is not authorised to provide financial services in Ireland. It is a clone of a genuine authorised firm.

Critical

Deepfake Investment Ads – Bogus State-Backed Savings Scheme

AI-generated adverts carrying fake video of well-known public figures promote a bogus state-backed savings scheme, then a callback "financial advisor" presses for an immediate security deposit.

Critical

Pyramid Scheme Recruitment – Paying to Join, Earning by Recruiting

You pay to join and earn by bringing others in behind you. The CCPC says it is illegal in Ireland to establish, operate, promote or knowingly take part in a pyramid scheme — the one scam here where the recruited reader is inside the offence.

High

How to Protect Yourself

If it sounds too good to be true, it is – no investment guarantees returns
Check if the firm is authorised by the Central Bank of Ireland (register.centralbank.ie)
Celebrity endorsements in investment ads are almost always fake
Never invest based on social media ads or cold calls
Research extensively and seek independent financial advice
Never pay "fees" to release profits – this is a classic scam tactic
Beware of recovery scams if you've already been victimised

Frequently Asked Questions

How do I check if an investment firm is legitimate?

Check the Central Bank of Ireland's register at registers.centralbank.ie. If the firm isn't listed, it's not authorised to operate in Ireland. Also search for the firm's name plus "scam" or "review" to see if others have been victimised.

I've invested in a platform and now they want fees to release my money. Is this normal?

No. This is a classic scam tactic. Legitimate investment platforms never require you to pay fees before withdrawing your own money. The "profit" you see on the dashboard is fake. Do not pay any more money. Report to Gardaí.

I lost money in an investment scam. Can I get it back?

Unfortunately, money lost to investment scams is very difficult to recover, especially if sent via bank transfer or cryptocurrency. Report to An Garda Síochána and the Central Bank of Ireland. Beware of "recovery companies" contacting you – these are often the same scammers trying to steal more.

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