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Investment Fraud Attempts Up 76 Percent In 2024, Says Bank of Ireland
A new from the Bank of Ireland has found that attempts at investment fraud targeting its customers rose 76 percent in H1 2024 compared with the same period last year.
The bank said the majority of cases begin on social media and eventually lead to phone calls and messages between the scammer and the target.
鈥淭he growth in investment fraud attempts is the most concerning trend we are seeing at the moment,鈥 said Nicola Sadlier, head of fraud at Bank of Ireland. 鈥淭he level of personalised targeting of consumers continues to grow year on year.鈥
The bank also found that 94 percent of customers surveyed have been targeted by a fraudster within the past 12 months.
The practice of 鈥渞e-targeting鈥 customers 鈥 whereby scammers contact someone who has already been scammed with fraudulent offers to recover their losses 鈥 is also on the rise.
Ripple Begins Testing US Dollar Stablecoin On XRP Ledger Mainnet
Ripple has that it has begun testing its Ripple USD stablecoin on the XRP Ledger (XRPL) and Ethereum Mainnet.
The company said that Ripple USD is currently in its beta phase and is being 鈥渞igorously tested鈥 by its enterprise partners.
鈥淭his phase is crucial for ensuring that the stablecoin meets the highest standards of security, efficiency and reliability before it becomes widely available after receipt of regulatory approval,鈥 it said.
鈥淐onsequently, Ripple USD is not available for purchase or trading at this time.鈥
Ripple, which revealed its stablecoin plans in April this year, warned investors to be aware of crypto scams that purport to offer early access to Ripple USD.
