Northern Ireland investment fraud victims lose more than £5m in latest sophisticated scams
More people in Northern Ireland are losing “life-changing” sums of money to ever-sophisticated fraudsters, according to the PSNI.
Police are urging the public to exercise caution following recent reports of people losing significant sums of money.
The warning comes as new figures reveal more than £5m has been reported lost by people in Northern Ireland caught by investment fraud over the past 10 months.
Police said that recent financial losses investigated by the PSNI and linked to fraudulent cryptocurrency fraud, have had “devastating” consequences for the victims involved, and also their loved ones.
Detective Chief Inspector Uel Boyd, of the PSNI’s Economic Crime Unit said: “Unfortunately we have witnessed a few cases recently where there has been staggering losses for the victims involved - in some cases they have lost all of their life savings to criminals operating online.
“These criminals are highly organised, and extremely convincing – often building relationships with people online before persuading them to invest money in what appears to be legitimate investment opportunities.
"Money is transferred and personal and other financial information is exchanged. No matter how the promise of a high financial return is presented, the aim for criminals is always the same – to get you to invest more or for longer.”
From April 2024 to April 2025, the PSNI received 192 reports of investment fraud affecting people in Northern Ireland with a financial loss of £3,680,161.33.
"For the period of April 2025 to date, we received 142 reports. Although there has been a decrease in the number of reports made to police, the financial loss to victims has increased to £5,056,486.54,” continued Det Chief Insp Boyd.
"Just last month we received a report of a large sum of money having been lost in a crypto-currency investment fraud; this was a massive, life changing sum of money.
"Not only is there the huge financial hit, but there’s also the emotional distress and devastation that has been caused by a loss of this scale. If an investment opportunity sounds too good to be true, it almost certainly is.”
The senior officer urged investors to research the background of anyone offering investment opportunities and check professional credentials through an official register.
"If a company or broker cannot be verified, people should treat the investment opportunity with extreme caution. Carrying out these simple checks can help potential victims identify fraudulent investment schemes before any money is lost.
"If you believe you have been targeted by an investment fraud, report it to police immediately on our 101 number, and seek support as soon as possible.
"We are here to help you, and we continue to work closely with partners, including the banking sector, through our ScamwiseNI Partnership to raise awareness of fraud, and inform people of the steps they can take to protect themselves.”
Police said people can help protect themselves by following this advice:
The best way to fight fraud and not lose money is to Stop. Check. Report.
Stop - Before you transfer money or disclose any personal details to anyone you do not know. Do not feel rushed or pressured by timelines - genuine businesses will always give you time to consider your options.
Check - Check and verify who you are communicating with using a trusted source. Anyone offering investment services in the UK, including cryptocurrency must be registered with Financial Conduct Authority who regulate their conduct. You can check the person or organisation you’re dealing with is on the Financial Service Register by going to https://register.fca.org.uk/
Report - If you have been a victim of a fraud, report it to police on online at www.psni.police.uk/makeareport or call on 101, to your bank immediately, online at www.reportfraud.police.uk or call 0300 123 2040. You can also forward scam texts to 7726.
Information and advice is also available at http://www.nidirect.gov.uk/scamwiseni or the ScamwiseNI Facebook page @scamwiseni
You can also find further information here: https://www.nationalcrimeagency.gov.uk/who-we-are/publications/768-crypto-dream-information-sheet/file