Be warned: Almost €8m was scammed from Irish residents in online investment fraud in the first seven months of this year, according to new Garda figures. 

Investment fraud is where criminals pose as investment managers who promise quick and high rates of return, but end up simply stealing people’s money.

The huge increase in this kind of criminality should serve as a warning to anyone seeking to invest their savings. 

In one case this year, a retired professional living in the Midlands lost his entire pension and savings.

The Garda National Economic Crime Bureau is warning people to be more vigilant online but the growing sophistication of the scams can make that difficult. 

A welcome development that should help matters is a new programme that plans to give 230,000 older people digital and online skills so they can interact with services and avoid cyberscams.

Even without such skills, an old piece of advice…

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