Member Alert: Sophisticated Cyber Scams Affecting Financial Services Firms and Retail Investors in Ireland

We would like to notify all our members that there have recently been a number of cyber scams occurring in Ireland impacting several of our member firms and retail investors who are being targeted in a sophisticated fraud.

The fraud involves replica investment materials, including prospectuses, fake websites and fraudsters using the identity of real employees to obtain money from investors believing they are investing in legitimate fund products. 

Please read additional media coverage for further background and details:

• RTE news article: https://www.rte.ie/news/business/2023/0310/1361240-warning-issued-about-serious-rise-in-investment-scams/

• Irish Times: https://www.irishtimes.com/business/2023/03/29/small-firms-warned-of-increasingly-sophisticated-cyber-scams