Home / Crime and Justice / £5M Lost to Fraud Since April 2025!
£5M Lost to Fraud Since April 2025!
14 Mar
Summary
- Victims lost over £5 million to investment fraud since April 2025.
- Fraud losses reached £3.68 million with 192 reports in prior year.
- Scammers target life savings through convincing online schemes.
Investment fraud has resulted in losses exceeding £5 million for victims since April 2025, as reported by the Police Service of Northern Ireland (PSNI). This figure represents a substantial rise, even with a decrease in the number of reported incidents.
During the 12 months leading up to April 2025, the PSNI recorded 192 reports of investment fraud, with financial losses amounting to £3,680,161.33. Det Ch Insp Uel Boyd of the PSNI's Economic Crime Unit noted that some victims have lost their entire life savings due to sophisticated online operations.
Recent cryptocurrency scams have been particularly devastating, causing not only significant financial setbacks but also immense emotional distress. Boyd warned that opportunities sounding too good to be true almost certainly are, and that criminals are adept at building relationships and appearing legitimate.
The PSNI strongly advises potential investors to thoroughly research any investment opportunity, verify professional credentials, and treat unverified offers with extreme caution. Reporting suspected fraud immediately to police on 101 and seeking support is crucial. The PSNI collaborates with partners like the banking sector through the ScamwiseNI Partnership to raise awareness and promote protective measures.
