International Fraud Awareness Week: Day Six – Crypto Currency Investment Scam

As part of Fraud Prevention series for International Fraud Awareness Week, today's theme focuses on Crypto Currency and Investment Scams.

There is currently significant advertisement surrounding the advantages of investing in and trading digital currencies, like Cryptocurrency. However, this environment has also created an opportune landscape for fraudsters who establish fraudulent companies, promoting deceptive "get rich quick" cryptocurrency investment schemes. These scams often promise substantial returns with minimal investment and effort, posing a serious risk to unsuspecting individuals.

Criminals often go to extreme measures to convince you of their expertise and professionalism, promising substantial returns for minimal investment and effort. However, keep in mind that if a deal appears too good to be true, it likely is!

Look out for:

• You receive an unexpected phone call, email, or social media message promoting an enticing investment opportunity.
• You feel rushed and pressured to make an immediate decision, with no time to properly evaluate the investment.
• The offer guarantees a quick and profitable return on investment, claiming little to no risk involved.

Top Tips to avoid being scammed

1. STOP THINK CHECK: Does this opportunity seem too good to be true? If it does, it likely is.
2. Confirm the Details: Validate all information with a reliable third party, such as a legal or financial professional, and seek advice from family and trusted friends.
3. Don’t Rush: It's essential to remember that there are very few genuine investment opportunities that necessitate an immediate transfer or payment of funds

NEVER respond to unsolicited calls, emails pop-up ads or social media messages that make claims about investment returns or Crypto currency deals.

If you believe you have been involved in an Investment Scam or any kind report it immediately to your Credit Union, An Garda Siochana or Credit Union Card Services on +353 (1) 6933333.

For more information, please visit https://currentaccount.ie/support/card-safety-guidelines/