Niamh Davenport

The regulation is published later this year and some companies are already doing that.

So they are playing their part and they are trying to combat it.

It's just so much out there, the vast volume of these.

Good morning, how are you?

Yeah, as you mentioned there, they're AI-generated online adverts across social media mainly.

They feature fake images and videos of well-known politicians and business people.

Now, most of these scams tend to follow the same pattern.

Consumers click on a link for more information.

They're encouraged to register, filling in a short form with their contact details, and then they might receive a call, say, from a financial advisor.

They claim the scheme is open to everyone.

The places are limited, for example, and they're being snapped up fast.

This is all done to create a sense of urgency and pressure and to get you to act quickly.

The other thing we've noticed with them is they, as well, they kind of typically offer guaranteed returns or monthly income.

As you said there as well, open to all ages, but recent trends really show that many victims are in their early 50s.

And really the reason for this is at this stage of our lives,

you know, we're actively managing savings or making longer term financial plans for retirement.

So that's why that age group in particular are vulnerable to this.

Exactly.

So the schemes, they look legitimate.

The videos are very good.