Banks are issuing a fresh warning as criminals deploy AI-generated celebrity endorsements to lure older savers into high-pressure investment scams.
The alert comes from FraudSMART, the Banking & Payments Federation Ireland’s fraud initiative, as pop-up ads using fabricated AI celebrity endorsements spread online and across social media platforms.
FraudSMART says criminals are aggressively targeting older consumers trying to supplement pensions or add to their savings ahead of retirement.
“Scammers are continually finding new and complex ways of luring people into investment scams, often targeting people over 50 who may be looking for an opportunity to top up their finances ahead of retirement or to boost their current pension.”
Investigators say the scams work through pop-ups that feature trusted celebrities, directing victims to submit their details and later receive calls from fake investment advisers posing as major institutions.
“Once the victim is convinced to make an investment and has authorised the payment, as soon as the money has reached the criminal’s account, the criminal will quickly transfer the money onwards to numerous other accounts, often abroad.”
Data from the Irish Police Force, Gardai, shows losses are climbing at pace, especially among retirement-age savers making high-conviction decisions under pressure.
“A concerning 21% increase has been recorded in the three months up to October 2025, with large sums of money reported stolen… average individual losses are ranging between €30,000 – €40,000 ($34,700–$46,300).”
Authorities stress the emotional toll is just as severe, with many victims having spent years saving for retirement only to see funds disappear within days.
“Victims are not necessarily wealthy, but often people who have worked hard to build up a pension and are looking for a last opportunity to top up their finances.”
FraudSMART and law enforcement are urging older investors to take a breather before acting on unsolicited ads.
“Pause for thought, don’t share your personal details through a ‘pop-up’ advert and contact the company independently to verify.”
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