Fake advertisements on social media promote counterfeit deposits and bond investment products that promise higher-than-average returns on fixed-term investments. The campaign targets users across the European Union and uses professional language and convincing visuals. Bank of Ireland detected 24 similar ads seen by almost 43,000 EU users. Consumers who submit details are sent supporting materials and receive follow-up phone calls from fraudsters posing as investment managers. Many offers involve six- to 12-month fixed terms that will reveal the scams when companies disappear. Highly personalised targeting on platforms such as Meta is increasing and consumers are urged to ignore such offers.
The ads, which offer fake deposits and bonds investment products, are notable in the professional language and convincing appearance, promising higher than average returns on fixed-term investments.
We are seeing a wave of fake investment ads on social media which offer guaranteed high returns on European investment products, with little or no risk. These ads which are in circulation now on Meta [the owner of Facebook and Instagram] platforms are particularly concerning, as they look more professional compared to the more obvious fraudulent ads for trading platforms or crypto investments.
Victims often sign up for fixed-term investments of six to 12 months, only to discover the scam when they try to access their funds-and the company has disappeared.
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