More than £5m lost in financial fraud since last April, police say

The financial loss to victims of investment fraud has risen to more than £5m since April 2025, according to the Police Service of Northern Ireland (PSNI).

It said this was despite there being 50 fewer reports (142) in the previous year.

The PSNI also said during the 12 months to April 2025, it received 192 reports of investment fraud affecting people in Northern Ireland with a financial loss of £3,680,161.33.

Det Ch Insp Uel Boyd, of the PSNI's Economic Crime Unit said it had "witnessed a few cases recently where there has been staggering losses for the victims involved" and that in "some cases they have lost all of their life savings to criminals operating online".

He said that recent financial losses linked to fraudulent cryptocurrency fraud, have had "devastating consequences for the victims involved, and also their loved ones".

"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."

Boyd added that the "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," he said.

"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."

Boyd said the PSNI strongly advised 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."

The PSNI said it continued to work closely with its partners, including the banking sector, through its ScamwiseNI Partnership "to raise awareness of fraud, and inform people of the steps they can take to protect themselves".