Investment Scams in Ireland: CBI Warning List and Clone Firm Fraud
Irish consumers are targeted by investment firms that clone the identity of CBI-authorised companies or create convincing new brands. Victims are lured by social media ads and cold calls promising returns that legitimate funds cannot match.
Part of: Investment Scams
Last reviewed: 1 June 2026
Ireland's Central Bank maintains an authorisation register and a public warning list of unauthorised firms, yet scammers continuously cycle through new company names and website domains ahead of enforcement. The regulatory credibility of Dublin as an EU financial hub is exploited by scammers who reference CBI oversight they do not actually possess.
Irish investors are also targeted as part of broader European fraudulent fund campaigns, where the same operation targets multiple EU countries simultaneously by adapting website languages and regulatory references.
How this scam works on Ireland
Targeted social media ads featuring imagery of Dublin landmarks or generic wealth signifiers direct users to professionally designed investment portals. A follow-up call from an articulate financial consultant personalises the experience and answers initial scepticism convincingly.
Clone firm operations use the real CBI registration number of a legitimate firm but operate a completely different website and bank account. When victims verify the registration number, it returns valid results for a genuine company — they do not realise the firm they are dealing with is unconnected.
A second wave of fraud targets victims who have already suffered losses: recovery specialists contact prior victims offering to retrieve funds for upfront legal fees.
Common red flags
- Investment firm's CBI registration number belongs to a different company than the one you are dealing with
- Contact details, bank account, and website differ from those on the CBI register for the named firm
- Promised returns significantly exceed anything a CBI-regulated fund currently offers
- Social media ad features Irish landmarks or public figures without verifiable endorsement
- Initial cold call followed by pressure to commit before a window closes
- Recovery firm contacts you after a previous loss asking for upfront fees
How to protect yourself
- Check the CBI register at registers.centralbank.ie and compare all contact details
- Call the phone number listed on the CBI register to confirm the firm is genuine before investing
- Never act on investment advice from an unsolicited call or social media ad
- Check the CBI's unauthorised firms warning list at centralbank.ie/consumer-hub
- Consult a CBI-regulated financial adviser independently selected before committing funds
- Report suspected clone firm activity to the CBI at [email protected]
How to report it
- Report to the Central Bank of Ireland consumer helpline at 1800 469 469
- Report to An Garda Siochana's Fraud Investigation Unit for criminal matters
- File a complaint with the Competition and Consumer Protection Commission at ccpc.ie
Frequently asked questions
What is a clone firm investment scam?
A clone firm scam uses the registered name and CBI authorisation number of a legitimate, authorised firm while operating a completely different website and bank account. Always verify that the contact details on the CBI register independently match those of the company you are actually communicating with.