‘Staggering amounts being stolen’ – Garda fraud squad’s concern ‘AI will become major issue’ as victims hit for 13.5m [Video]

SINISTER criminals already stealing millions through sophisticated frauds will use artificial intelligence to ramp up their theft, a top Garda warns.

Detective Superintendent Michael Cryan says the growing volume of investment fraud which has seen €13.5million taken already this year is frightening.

Over €28 million was stolen from investment fraud victims in Ireland last yearCredit: Getty Images – Getty

Cops admit the reported figures are just the tip of the icebergCredit: Getty Images – Getty

Detective Superintendent Michael Cryan says the growing volume of investment fraud is frighteningCredit: Crispin Rodwell – The Sun Dublin

He told the Irish Sun: “These criminals are very, very good. They have very good backstories. They put a lot of work and a lot of effort into defrauding these victims.

Investment fraud occurs when criminals pose as investment managers to fool people into investing money in schemes and projects that do not exist.

Over €28 million was stolen from investment fraud victims in …