The consumer watchdog has launched an investigation into a potential pyramid scheme circulating on social media.
The scheme, which is advertised with a flower symbol, invites people to "invest" €150 euro and then recruit others to do the same.
As participants recruit more people they climb higher tiers, eventually reaching the "gold level" and cashing out.
The Competition and Consumer Protection Commission says the model is likely to collapse.
They have reminded consumers that the vast majority involved will lose their money.
If their investigation deems it to be a pyramid scheme those who knowingly participate are liable for prosecution.
The CCPC is appealing to people who've been approached to join to get in touch.
Scheme Recruits People Through Social Media
The CCPC believe the model is targeting young people and students in particular.
One woman told Cork's Red FM that she was convinced to "invest" after seeing screenshots of profits.
"It was all over social media, it said easy money."
"People were putting up screenshots of their PayPal and bank account of the €1,200 [profit]."
She told Neil Prendiville she "didn't really question it" until it was too late.
The woman only got her money back after her friend pretended to be a law student and threatened fake legal action.
She's warned others like her, not to fall for the scheme.