How to get money back from forex scam

If you paid by debit card, you can use chargeback however much you paid.

My list of forex bonuses

Check if you can get your money back after a scam, how to get money back from forex scam.

If you can’t get your money back and you think this is unfair, you should follow the bank’s official complaints process. If your complaint isn’t sorted out in 8 weeks, or you get a final response letter, you can take your case to the financial ombudsman.

Check if you can get your money back after a scam

You might be able to get your money back after you’ve been scammed.

What you should do, and whether you’ll get a refund, depends on what happened.

Managing someone else’s bank account

If you're helping someone who's been scammed, there are ways you can manage their bank account for them. You might need to do this if you want to stop payments or claim back money.

The person you're helping needs to fill in a form giving you permission to manage their account. This is known as a third party mandate. Most banks have a third party mandate on their website.

If the person you're helping wants you to manage more than one account, they might need to give you power of attorney. They might also need to give you power of attorney if you have to manage their finances for a long time. To find out more, read our advice on managing affairs for someone else.

If there’s an unknown payment from your account

Contact your bank immediately if:

There’s a payment from your bank account you don’t recognise – this is known as an 'unauthorised transaction'

You’ve used your debit card and more money was taken than you expected

Explain what’s happened and ask if you can get a refund. If you’re not happy with how the bank deals with your claim, you can complain to them. Find out how to do this by checking their website.

If it's been 8 weeks since you complained, and you haven't got your money back, contact the financial ombudsman. You can also contact the ombudsman if you've had a letter from the bank saying it's not going to take any action. This is sometimes known as a final response letter.

If the ombudsman decides you've been treated unfairly, it's got legal powers to put things right.

If you’ve bought something from a scammer

Coronavirus - be aware of new scams

It's important you're aware of the many new scams around at the moment because of coronavirus. Scams to look out for include:

Advertising face masks or medical equipment at high prices

Emails or texts pretending to be from the government

Emails offering life insurance against coronavirus

People knocking at your door and asking for money for charity

If you see emails or texts about coronavirus from someone you don't know, or from an unusual email address, don't click on any links or buy anything.

Don't give money or personal details to anyone you don't know or trust - for example someone who knocks on the door and offers to help.

There might be ways you can you get your money back – it depends on how you paid.

If you paid by card or paypal

If you've paid for something you haven't received, you might be able to get your money back.

Your card provider can ask the seller's bank to refund the money. This is known as the 'chargeback scheme'.

If you paid by debit card, you can use chargeback however much you paid.

If you paid by credit card and the item cost more than £100 but less than £30,000, you might be able to claim under the consumer credit act - this is known as a 'section 75 claim'.

If the item cost less than £100 and you paid by credit card, you can't use section 75, but you can use chargeback.

If you paid by bank transfer or direct debit

Contact your bank immediately to let them know what’s happened and ask if you can get a refund.

Most banks should reimburse you if you’ve transferred money to someone because of a scam. This type of scam is known as an ‘authorised push payment’.

If you've paid by direct debit, you should be able to get a full refund under the direct debit guarantee.

If you used a money transfer service

It’s unlikely you’ll be able to get your money back if you’ve paid through a wire service such as moneygram, paypoint or western union.

Even if you can’t get your money back, there are other things you can do – like reporting the scam and getting financial or emotional support.

There are things you can do to protect yourself if you ever need to use a money transfer service again.

Only send money to someone you know

Choose a password that’s hard to guess and don’t share it with others

If you paid by vouchers or gift cards

It's unlikely you'll get your money back if you used vouchers or gift cards to pay the scammer.

To protect yourself in future, never give numbers on the back of a gift card or voucher to anyone you don't know.

If you can't get your money back

If you need help with debt, check our advice on how to start dealing with your debts.

Report the scam

It's a good idea to report the scam – even if you haven’t got your money back yet. Find out how to report a scam.

Get more help

For more help dealing with scams, contact our consumer service.

3 trusted ways to recover scammed bitcoin stolen cryptocurrency and money from binary options forex scam broker

Bitcoin and cryptocurrency in general are deemed as pretty secure, but sometimes unexpected things can happen. Even experienced traders have had cryptoassets lost or stolen. And until recently, it felt like there was very little one could actually do about it. The good news however is that there are ways to recovery your scammed or stolen cryptocurrency back.

We will be looking at the top ways to recover your scammed or stolen bitcoin cryptocurrency, as well as funds lost to binary options forex and other forms of investment scam! Two of the best and most recommended bitcoin and funds recovery experts that specialize in recovering scammed bitcoin, stolen cryptocurrency and money lost to binary options or forex are;

Steps to recover scammed bitcoin or stolen cryptocurrencyact immediately: the quicker you can act, the better. The longer you wait to start tracing your scammed crypto, the more time you give thieves to transfer your assets to cold storage, send them to sketchy exchanges, or to tumblers to mix them up. The more sophisticated you are, and the less sophisticated the thieves are at laundering the assets, the better chance you have. If the funds are in an exchange, you’ll need to contact them and ask them to freeze your assets. This will definitely buy you some time.

Get legal assistance: for the legal system to actually work in your favor, you will have to know who stole your cryptocurrency. While you may be able to freeze funds against a john doe, it may be quite challenging. In general, to enforce an order requiring fraudsters to pay damages or handover stolen property, ultimately you’ll need to know who they are.

One of the many good benefits of cryptocurrency is that you can see where the coins went. If they go through an exchange, you’ll most likely be able to find out who the wallet holder is thanks to the KYC process. From there, you can get an order to reveal the thief’s identity and recover your stolen crypto.

Recover lost crypto from a cold wallet: cold wallets are offline wallets that are designed for storing cryptocurrencies. With cold storage, the digital wallet is stored on a platform without internet connectivity. This protects the wallet from cyber hacks, unauthorized access, and other vulnerabilities that could be exploited if they were connected to the internet.

3 ways to recover crypto from cold wallet

Encrypted devices: encrypted phones and laptops work like cold wallets, so that you can safely store and access your private key information. Like cold wallets, you can retrieve lost information through professional help.

Paper wallets: if you have a paper wallet, consider storing it in a vault or safety deposit box. That way, you’ll literally have a physical backup of your key information. This is a pretty old fashioned way of doing things, so maybe consider other options first.

Pen drives/hard drives: while this is a very secure way to store your coins, retrieving your data from them should they be damaged or corrupted is a timely and expensive process. You’ll definitely need a professional to do this.

You will also find this article helpful if you are searching for any of the following;

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Crypto scams are becoming more and more frequent as crypto scammers are focusing on gaining new clients through social media. It is more difficult to recover funds if you paid using cryptocurrency but there is still hope. Here is an understanding of the crypto world and what you can do to recover your money.

When it comes to recovering stolen funds, you can always trust express recovery pro – expressrecoverypro@yahoo.Com and fundsrecovery247 – info@fundsrecovery247.Com to deliver to your satisfaction. Both companies specialize in recovery bitcoin and cryptocurrency from cryptocurrency scams, fake or fraudulent brokers, ponzi scheme etc. They both offer the best in terms of assets recovery, and are both approved by crypto exchange commissions.

Recover money from binary options forex scam broker

Due to the ubiquitous nature of binary options and forex scam and the damage it inflicts on consumers, a growing number of countries have banned binary options trading by retail investors. In 2018 the european union (EU) enacted a temporary ban as well, which has since been renewed on an ongoing basis. In addition, google and facebook have ceased accepting ads linked to binary options sites.

These actions, as welcome as they are, merely encouraged many operators of phony binary options sites to re-brand them as online forex brokerages and even as private banking firms. Our duty is to assist you to recover back your money by using techniques we have mastered over the years with the aid of seasoned professionals to help you out.

How to recover money lost to binary options

Challenging binary options brokers can be very complex and mistakes can cost you. Our recommended recovery experts; express recovery pro and fundsrecovery247 analyze your case and assist you on how to recover your money from online binary options scams and fake binary options company, forex broker or individual.

In the first two decades of the 21st century the internet became ground zero for binary options scams and binary options fraud. Perhaps you were first attracted to their website by a pop-up ad, or a social media post. You clicked and found an attractive, professional -looking presentation promising you:

A quick, profitable return with an immediate bonus

An easy-to-manage online binary options platform

While legitimate, government-regulated online brokerages do exist, there many more unregulated firms – especially those offering binary options – whose business models are built on swindling unsuspecting and inexperienced investors over the internet.

When it comes to recovering money lost to binary options, your best options is hiring a funds recovery expert. We recommend these two most tested and trusted funds recovery experts;

And unlike other wealth recovery services, who will often keep you in the dark and leave you constantly trying to figure out what is going on and what to do, these two recovery experts keep you fully in the loop at all times.

How to recover money lost to forexone of the first things that a forex trader should realize is that they will end up losing soon or later. It’s part of the forex trading business.

A trader’s aim is to maximize gains while minimizing losses but the system is such that eventually, a trader will lose. A veteran forex trader knows that he or she will experience their fair share of losses but amateur traders can get discouraged very quickly, especially if they end up losing a significant sum of cash.

Here are a few tips on how new traders can bounce back from their losses.

The immediate response: the first thing that a trader should remember is not to panic. Losing a big trade does not mean that they will lose everything. The key factor is to try and minimize the loss.

Learn from your mistakes: after the loss, it’s time for a trader to understand what happened. When it comes to losses, there are two main reasons why a loss generally happens. One is an emotional loss. There is also a normal loss. This is just pure statistics.

Take ownership: the next step is accepting the loss. This is where the trader assess exactly how much damage was dealt to their finances and how they should move on from the failure.

Hiring is a fund recovery expert is the best way to recover from forex losses. You can also hire a funds recovery expert to recover scammed or stolen cryptocurrency and money lost to binary options forex, bitcoin scam recovery, recovering from online trading scam. Our two recommended recovery experts are;

Forex trading scams - get your money back!

The forex industry is one of the scammer’s favorite grounds. Since the industry is generally known as a legitimate investment option, it is very hard for the average person to differentiate the scam brokers, from the legitimate ones. Usually, most people don’t even know they’ve been scammed, they just think they had “A bad trading day”. If you feel that the way you lost your money trading, is more than just a “bad day”, contact us now. If your broker is a fraud, we might get your money back.

Get help with forex scam recovery at payback

Forex trading scams are one of the most pervasive online scams in the world right now. Given the current situation, people are more inclined to do their transactions online. Individuals who have enormous amounts of money tend to send or receive without hesitation, whether online or over the counter.

There are lots of ways to do forex trading. While there are reputable sites and offices, some people tend to do transactions to the appealing ones or those near them without ensuring reliability and credibility. In this case, we cannot entirely blame these people who have fallen as victims.

Without secured precautions and accountability, these vulnerable transactors are instant prays of forex scams. Sometimes, even if there is security, the forex trade scam can still make its way to accomplishing it.

Before moving forward to all these online forex trading scams and how to retrieve the money lost, let us first define it.

What is forex?

Forex is the blended word of foreign currency and exchange. Basically, it is the method of changing local money into another currency for common purposes such as commerce and tourism. In simpler terms, it is a money exchange. Usually, local currencies are being exchanged for USD and EUR. This process is also called FX.

Due to technological advancements, forex became plausible and more accessible. There are many ways to do this process; transactions can be done through banks, accredited retails, legit forex brokers, and online. Since the internet is already part of most individual’s lifestyles, the exchange can be made through legit forex trading sites.

While forex’s stance in the market is a hot topic right now with its higher market volatility caused by the shift and other influences, scam forex brokers are also widespread. As forex resurges, due to the pandemic, transactors’ vulnerability became more alarming since the shift.

Is forex legit?

People who are planning to do a forex process might be asking questions similar to this.

It is understandable to doubt, especially if exposed to scams or have experienced being scammed before. To answer it, yes, forex trading is legit. If so, “how legit is forex trading?”

Forex trading is a legitimate business. There are legitimate forex trading brokers in the market, as well as sites online.

Legit online forex trading exists nowadays, which is more attainable. It will not require traveling and physical interactions, lessening the risks of any unlikely transmissions. However, with its apparent easy accessibility, traders are advised to be more careful because the internet is a world open to frauds and thieves.

Similar to other trading methods and existing currencies, there are lots of risks in forex. It is complex in the sense that it requires adept knowledge about the market, especially to large companies who are the most careful in doing transactions. Without broad knowledge about economic fundamentals, transactors become more vulnerable, so scams are made in some cases. So, it is indeed necessary for a currency trader to be knowledgeable and meticulous.

Seeing the big economic feature includes delving into the credibility of the brokers. Traders can check forex scam reviews to ensure the legit forex trading companies. The internet provides many reviews and testimonies to give aid to potential users.

With regard to the choice of doing it on the internet, make sure to get involved with a legit forex trading site. The only case that forex trading is a scam is when the sites are unreliable. If the reviews are disagreeable and look unconvincing, traders should not trust forex trade scams. If per se, the scam is inevitable, there are ways to retrieve back the money put on the wrong hands.

Forex and the chargeback industry

Forex transactions can sometimes be fraudulent. To ensure that transactions are trusted, it is best to be alert and cautious all the time. The market is so vast that even people whom you trust wholly have two sides and hidden motives. Some people are unexpectedly untruthful and deceptive. So, before doing forex trading, investigate first the legitimate forex trading sites that would take away any theft possibilities. Moreover, transactors can also check the forex scams list and scam forex brokers.

Furthermore, besides individual awareness, the chargeback industry is a leverage for the victims of forex trading scams.

Chargeback is a backup beneficial for consumers. It is the process of seizing money from a scam forex broker to return it to the rightful owner. This method is undeniably helpful for consumers to protect their money when doing transactions in whatever ways. In a dispute regarding scams, money retrieving can be quickly made using a credit or debit card.

Victims of a forex scam are highly advised to use this method in retrieving their money. This industry offers forex help in trade scam. Victimized transactors need to know that to acquire the chargeback claim; an agreement must be made first as it should. Termination of contract from the identified scam forex broker is a necessary action to do to retrieve the deposit. To actually get back the money, legal concerns will be included, so make sure to have strong claims and validations to win the case.

How to get money back from forex scam – can you even get it back?

How to get money back from forex

Forex trading is one of the most famous forms of trading on the internet. There was a time in the past when you had to go to money exchanges to get a different currency for the currency you had. However, you can now trade fiat currencies from the comfort of your home, thanks to the online trading industry. When you trade online, you sign up with an online broker first. This broker gives you access to the forex market where you can see all the available currency pairs that you can trade. You can pick any currency pair and trade it with real money. You deposit this money into your online account through bank wire transfer, credit card, or some other method.

If you feel that you have been scammed by a forex broker trading scheme then you are welcome to visit our investment and trading scams page, for more information or visit our contact page to get help.

However, the fame of online trading has attracted many black sheep in the industry. You now have many online forex brokers that are not brokers at all. They are scammers in disguise you want to snatch away your money. Millions of people lose their money in the hands of these fake online brokers. And if you are one of them, you are also wondering how to get money back from forex scam. Can you get it back?

How to get money back from forex scam – getting it back is possible

If you are lucky enough, you can get your money back. Saying that you can’t get your money back at all would be wrong. As you continue to read, you will find out some methods that you can use to get the money back that you have lost in the hands of an online scammer. It won’t be wrong to say here that you have to be very lucky to get the money back. Even if you involve the police or some other intelligence agency, the chances of you getting the money back are very thin. You have to keep in mind that many of these online scammers have created their system after proper research.

They know how to deceive you and escape the system. They scam you, take your money, and disappear to never show up again. Not to mention, you never really know their real identities, and that’s why catching them becomes nearly impossible. However, things have changed in recent years. Today, the chances of you getting the money back have increased tremendously. Let’s discuss three methods that can help you get your money back from an online scam broker.

Methods to get your money back from forex scam

· calling your local police – very little chance

The first on the list of how to get money back from forex scam is the police. Yes, whenever you are scammed or you find yourself involved in a scenario where you have been deceived, you should get in touch with your police. That’s actually the best course of action you can take. However, your local police have some limitations. It cannot catch the thieves that are outside its domain of operation. So, if the broker is located in your country, there is still some chance that the police will get it. However, if the broker is located in some other country, you have nearly no chance of getting the money back from the scam.

· getting in touch with a regulatory authority – 50/50 chance

Now, you will be lucky if you sign up with a broker and get scammed, and then find out that the broker was regulated. If the broker that scammed you is regulated, you have some chance that you can get your money back. You just have to go on the website of the broker and find out which regulatory authority regulates it. After that, you just need to get in touch with the regulatory authority. You might find a contact form on their website or a phone number that you can call. You should immediately inform them about the mishap. You should tell them the name of the broker clearly.

If they have already gotten some complaints against the same broker, the chances are very high that they might even seal the website of that broker. However, such a perfect scenario does not happen every day. Why? Well, why will a scammer get regulated? Yes, in most cases, you are scammed by forex scams that are not regulated in the first place.

· getting help from money-back – very high chance

When you get in touch with money-back to file a complaint against an online forex scam, your chances of getting the money are very high. In fact, when you search how to get money back from forex scam after some years, money-back might be the only name you will find in your search results. Money-back has started only four years ago with its services. It has already served clients from many countries of the world with their issues with online brokers. The company has already dealt with more than a thousand cases successfully, which means the people who filed the complaint against the broker with money-back got their money back.

Why is the success rate of money-back so high in getting the money back from online scam brokers? Well, the company has been formed by a team that consists of professionals lawyers, psychologists, and industry experts. They have come together to form a team that not only knows how the laws that govern the online trading industry but also the tactics that make these online scammers give money back to the traders immediately.

Final thoughts

Just a few years ago, you could not have gotten your money back from the online scammers. If you searched for how to get money back from forex scam, you would have landed on the website of your local police after all. However, local police are usually not able to do anything when the scammer is located on the other side of the world. That’s where you need only digital police like money-back. These scammers are ready to give traders their money back instantly when they hear a lawyer on the phone, and when they know they will lose millions when the case goes inside the court. So, choose your online broker wisely, and your well-wishers even more wisely.

HOW TO GET MONEY BACK FROM FOREX SCAM – CAN YOU EVEN GET IT BACK?

However, the fame of online trading has attracted many black sheep in the industry. You now have many online forex brokers that are not brokers at all. They are scammers in disguise who want to snatch away your money. Millions of people lose their money in the hands of these fake online brokers. And if you are one of them, you are also wondering how to get money back from forex scam. Can you get it back?

HOW TO GET MONEY BACK FROM FOREX SCAM – GETTING IT BACK IS POSSIBLE

METHODS TO GET YOUR MONEY BACK FROM FOREX SCAM

· CALLING YOUR LOCAL POLICE – VERY LITTLE CHANCE

· GETTING IN TOUCH WITH A REGULATORY AUTHORITY – 50/50 CHANCE

· GETTING HELP FROM GETCHARGEBACK – VERY HIGH CHANCE

When you get in touch with getchargeback to file a complaint against an online forex scam, your chances of getting the money are very high. In fact, when you search how to get money back from forex scam after some years, getchargeback might be the only name you will find in your search results. Getchargeback has started only four years ago with its services. It has already served clients from many countries of the world with their issues with online brokers. The company has already dealt with more than a thousand cases successfully, which means the people who filed the complaint against the broker with getchargeback got their money back.

Why is the success rate of getchargeback so high in getting the money back from online scam brokers? Well, the company has been formed by a team that consists of professionals lawyers, psychologists, and industry experts. They have come together to form a team that not only knows the laws that govern the online trading industry but also the tactics that make these online scammers give money back to the traders immediately.

Final thoughts

Just a few years ago, you could not have gotten your money back from the online scammers. If you searched for how to get money back from forex scam, you would have landed on the website of your local police after all. However, local police are usually not able to do anything when the scammer is located on the other side of the world. That’s where you need only digital police like getchargeback . These scammers are ready to give traders their money back instantly when they hear a lawyer on the phone, and when they know they will lose millions when the case goes inside the court. So, choose your online broker wisely, and your well-wishers even more wisely.

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Forex comes from foreign-exchange where you trade different currencies depending on the ups and downs of the currency rates.

For example, if you notice that one currency rate will increase as compared to the other one, you trade in those currencies and earn profits.

It’s not that simple as it looks. In a research, it was found that we usually overestimate our abilities to do something when we see experts doing something and that’s what we do in forex trading as well.

From where the story of the forex scam begins.

How beginners are trapped in forex scam?

Most people see someone else trading in forex. Definitely, someone may be making a lot of money because of his expertise, people get excited and want to go for it.

That’s where they get disappointed.

Money is never an easy thing. If you’re not scamming or hacking someone’s account then it’s really a tough job to make money.

You need a lot of effort to make money.

And that’s what people need to understand in forex trading. Forex trading also requires a lot of learning and expertise to work on and when you don’t do it. You don’t get anything.

Scam traders:

In the meanwhile, scammers reach you or sometimes, you reach them. They show you the glaring results of their trading.

They may or may not be doing great, it’s possible that they purchased those screenshots or accounts to trap people.

Either they do it well or not, they make your mind invest with them and get profits on monthly or quarterly and or annually.

Once you invest some money, you’re trapped to be a victim of continuous scams.

Fraud brokers:

There are some fraud brokers who have created their websites and apps. They invite you for investments and offer you huge profits.

So it’s always a great idea to check the company’s reputation before investing something.

Perfect ways to recover your money from forex scam

I discussed the details of being scammed so that you could avoid it for the future. But, now let’s discuss the perfect ways to recover your money from forex scams.

Definitely, you won’t stop trading for a scam, but you will try to avoid scams next time. That’s why it is better to keep an eye on the tricky ways of the scammers.

Well, the following are some working ways to recover your money back from scammers.

Report cysec:

Cysec (cyprus securities and exchange commission) works against frauds and scams. Whenever you feel something fishy with your broker, for example, your withdrawals are limited or you’re continuously inquired to raise investments to keep working. All such signs of scamming should timely be noted and reported so that cysec could help you.

If the broker had provided you all the true details then it’s possible that you could recover your scammed money back.

But usually, they don’t provide you with the actual details.

Report to police:

It’s also one of the most important things while getting your scammed investments back. You should consult with the police and ask them to deal with the scammer.

If the scammer had provided you the actual details, like phone number, address, or anything else then they might hesitate to scam your money.

Although, every time people have signed such agreements that they can’t get their investments back.

Contact a recovery service

No matter how much trapped you have been or how much heavy amount you lost, recovery services fight for you.

Here the problem is that we aren’t sure if the recovery service is real or not. There are hundreds of guys and companies who work in recoveries. But do they really recover scammed money back?

You should ask them and only trust a true forex scam recovery service.

To judge a recovery service, you should ask them a few questions.

How long did you work in this field?

How can you assure me to recover my investments?

From where do you live?

How many times did you recover the money back and what percentage couldn’t you?

Once you will read the answers to the questions, you will easily make sure if the recovery service is really good for you or not.

Forex trading scams

Find out how unauthorised forex trading and brokerage firms work, how to avoid scams and what to do if you are scammed.

UK consumers are being increasingly targeted by unauthorised forex trading and brokerage firms offering the chance to trade in foreign exchange, contracts for difference, binary options, cryptoassets and other commodities.

They promise very high returns and guaranteed profits, either through a managed account where the firm makes trades on the investor’s behalf or by trading using the firm’s trading platform.

We are aware that scammers are targeting consumers searching for investments online, in particular through search engines like google and bing. Although some scammers offer high returns to tempt you into investing, they may also offer realistic returns to make their offer appear more legitimate. Those offering or promoting products or investment opportunities found through search engines are not necessarily authorised or regulated by the FCA. You can check the FCA warning list for firms to avoid.

How forex (FX) trading and brokerage scams work

Most consumers report they have initially received some returns from the firm to give the impression that their trading has been a success.

They will then be encouraged to invest more money but at this stage or soon after the returns stop, their account is suspended and there’s no further contact with the firm.

Many scam firms claim to be based in the UK and even claim to be FCA authorised.

Beware of clone firms

Many bogus trading and brokerage firms will use the name, ‘firm registration number’ (FRN) and address of firms and individuals who are FCA authorised. This is called a ‘clone firm’.

The scammers then give their own phone number, address and website details, sometimes claiming that a firm's contact details on the register are out of date.

Scammers might also claim to be an overseas firm, which don’t always have their full contact and website details listed on the register.

Scammers may even copy the website of an authorised firm, making subtle changes such as the phone number.

How to protect yourself

You should check the FCA register of authorised firms before dealing with any firm. If they’re not authorised by us, it’s probably a scam. You can also check our warning list of firms to avoid.

If the firm’s contact details aren’t on the register or the firm claims they’re out of date, call our consumer helpline on 0800 111 6768.

You should check the firm isn’t a clone firm by asking for their firm reference number (FRN) and contact details and then calling them back on the switchboard number on our register – never use a link in an email or website from the firm offering you an investment.

Always be wary if you’re contacted out of the blue, pressured to invest quickly or promised returns that sound too good to be true.

You should seriously consider seeking financial advice or guidance before investing. You should make sure that any firm you deal with is regulated by us and never take investment advice from the company that contacted you, as this may be part of the scam.

The money advice service has information on investing and about how to find a financial adviser. Alternatively, you could get further information from a group that represents advisers such as PIMFA.

If you have been scammed

You can report the firm or scam to us by contacting our consumer helpline on 0800 111 6768 or using our reporting form.

If you’ve invested with a firm that’s not authorised by the FCA, your investment is not protected by the UK’s financial services complaints and compensation scheme.

If you have already invested in a scam, fraudsters are likely to target you again or sell your details to other criminals.

The follow-up scam may be completely separate or related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee.

If you have any concerns at all about a potential scam, contact us immediately.

How to get your money back after a scam

Here’s what you can do to try and recover your money if you’ve lost out to a scam.

How did you pay?

Debit card

If you used a debit card, you may be able to ask your bank to get your money back through the chargeback scheme.

Chargeback is not enshrined in law but is part of scheme rules, which participating banks subscribe to.

It applies to all debit card transactions including goods costing less than £100, although exact rules may vary between the american express, maestro and visa networks.

But, there are no guarantees your bank will be able to recover the money through chargeback.

Chargeback also applies to credit card transactions but will be particularly useful where goods cost less than £100 and so section 75 doesn’t apply.

If you want to use chargeback to get your money back after a scam, this letter template could help.

Bank transfer

If you've been caught out by a complex and convincing scam which has resulted in you transferring your money into another bank account than you should contact your bank immediately.

The bank can try and recover the funds once they are notified.

Credit card

If you've paid for goods or services with a credit or debit card, you have greater protection if things go wrong under section 75 of the consumer credit act or by using chargeback.

But whether you can make a claim or not depends on the type of scam you have fallen for.

An example of a scam where you could use section 75 of the consumer credit act or chargeback would be a scam where you paid for goods or services and it turns out these were either never available or the 'seller' has disappeared.

Credit cards have the greatest protection, as you can make a claim against your card provider under section 75.

Under section 75, the credit card company is jointly and severally liable for any breach of contract or misrepresentation by the company.

For section 75 to apply the item or service you bought must have cost more than £100 and not more than £30,000.

Paypal

Order not delivered

If the scammer has taken payment for an item through paypal and then hasn’t sent, you should be covered by paypal buyer protection. But there are some exceptions and time limits on lodging a claim.

In some cases scammers set up convincing looking paypal payment forms which actually just gather your bank details. In this case, you have no protection under the paypal buyer protection scheme.

Fake paypal payment page

This is because paypal aren’t part of the transaction; the scammer has just used their branding without their knowledge to make fraudulent activity look legitimate.

Seller protection

Where a scammer pays through paypal, takes delivery of the order, and then claims that they didn't receive it and makes a claim through paypal buyer protection or section 75.

If you’re caught by this scam you’ll probably want to make a claim under paypal seller protection.

But this has conditions and requirements - particularly around the delivery address that's used and the seller having proof of delivery.

As long as you’ve met all of the criteria you should be protected.

In some instances the scammer will be aware of these rules and will specify a different delivery address or collect in person.

In this case you won't be covered by seller protection because you've not met the condition of posting the item to the account holder’s registered address.

Unfortunately, you might not be able to get your money back if you've been scammed out of your cash.

This is also the case for wire payment services such as moneygram and western union.

Report the fraud to the police and trading standards to see if they can take any action.

Talking to others about what's happened, and hearing about the experiences of others who have been through the same experience can help. You can get in touch with support groups through charities like citizen's advice, victim support and age UK.

Money transfer wire service

Unfortunately, you can't always get your money back if you've been scammed, especially if you've handed over cash or you’ve paid via a wire service such as moneygram, paypoint or western union.

All of these services provide advice on how to avoid fraud and scams, so it’s a good idea to read their advice to safeguard yourself against future scams of this kind.

I didn't authorise the payment

If there is a transaction on your card you know nothing about, then you can make a claim from your bank as an unauthorised transaction.

If you hand over your card to have a particular amount debited from it, and then you find more money has been taken without your permission, or a sum has been taken by someone else, you can make a claim for this extra amount.

The payment services regulations 2009 and the banking conduct of business rules place obligations on banks and building societies to provide a refund in these circumstances.

Make sure you report the unauthorised transaction as soon as you become aware of it.

Problems getting your money back after a scam?

Different banks might have different policies on reimbursing victims of fraud, but all banks have a responsibility to protect your money.

If you think your bank hasn’t handled your case properly, you have the right to challenge their decision.

Real life story

Scott, 30, from london was targeted by a sophisticated bank scam that tricked him into giving out his pin number.

I’m very internet savvy, but the scam I was taken in by was so slick it was totally believable.

Emotional support after a scam

Being scammed can take a huge toll on your mental health.

You might find it helpful to talk to someone about what you’re going through. It’s not your fault, and there are plenty of non-judgemental advice lines you can call who will understand.

Mind has a confidential information and support line, mind infoline, available on 0300 123 3393 (lines open 9am - 6pm, monday - friday).

Victim support

Victim support has a free helpline where you can speak to someone confidentially available on 0808 16 89 111 (lines open 24/7).

How to file A complaint against suspected online trading fraud

Pierce wilson - april 11, 2019

Updated for 2019

Either you suspect you may be, or you know are a victim of trading fraud and you are doing everything you can to get justice. Perhaps you have already opened a case with a scam recovery company like ours but you want to make sure that other traders do not make the same mistake. So where do you report it? Below, we have compiled a comprehensive list of agencies that you can make a report to. It is organized by region. You can scroll down to your country, or just click on it from the list below and follow the link to file a complaint.

When you file your complaint, make sure to provide as much information as possible. Do not leave anything out no matter how trivial you think it may be. Include names, addresses, any financial institutions involved.

If you received any threats of violence, be sure to report it to local police authorities.

Skip to country selection

Steps to report A scam properly

Gather any evidence of the scam and save it in a folder on your device.

Next, select your country or reason from the list below.

File a complaint with each of the regulatory bodies listed there.

Scammer location complaint

Finally, select the location of the scammer (if you know it), and file a complaint with each of the regulatory bodies listed.

File a complaint with the regulatory bodies in your country or jurisdiction as well as the location of the scammers. Also with the regulator who provides the trading license to the broker.

Regulated brokers usually highlight their licensing on the bottom of their website. Just scroll down to the bottom and look for their licensing details.

Everything. This includes email correspondence with the scammers, screenshots of social media conversations, bank and credit card records showing the amounts and dates of transfer, the names of the scammers, and scam companies etc.

Click on your country or region

United kingdom

For the UK, you should be reporting your case to two agencies. First, report your case to citizen’s advice here: https://www.Citizensadvice.Org.Uk/consumer/scams/reporting-a-scam/

Is the scam based outside of the UK?

United states

The US has a reputation for going after trading fraud aggressively. In recent news, there have been a string of arrests in the trading fraud category. Reporting your case to them can make a real difference. To report a trading scam to the FTC, click here: https://www.Ftccomplaintassistant.Gov

You can also submit complaints to the following agencies. We recommend you file a report with all of them:

European union

If you are based in the EU, you should report online trading scams to the european unions anti-fraud office here: https://ec.Europa.Eu/anti-fraud/contacts/fraud-reporting-form_en

To report to specific countries in the european union, europol provides and excellent resource here: https://www.Europol.Europa.Eu/report-a-crime/report-cybercrime-online

Australia

In australia, you can report online trading fraud to the ACCC here: https://www.Scamwatch.Gov.Au/report-a-scam

Don’t forget to also file a report with the australian fair trading. You can do so on their website found here: https://www.Fairtrading.Nsw.Gov.Au/buying-products-and-services/scams/report-a-scam-or-cybercrime

Additionally, there is a government organization called ACORN dedicated to protecting australians from scams. A report against an online trading platform can be made here: https://report.Acorn.Gov.Au/

New zealand

Hopefully, in a sign that the government is committed to protecting its citizens, there are a number of places to report scams in new zealand. Remember, this is not about getting your money back. It is about doing your part to protect your fellow citizens, family, and friends, as well as to hold the scammers accountable. The more pressure we can put on them, the better.

Netsafe – netsafe takes reports whether or not the scam occurred on the web. To file a report, follow his link: https://www.Consumerprotection.Govt.Nz/general-help/scamwatch/report-a-scam/. For a direct link to the form, click here: http://www.Theorb.Org.Nz/. I’m not sure if this goes elsewhere but there is another netsafe form here that you can make a report with as well: https://report.Netsafe.Org.Nz/hc/en-au/requests/new?Ticket_form_id=360000024755.

New zealand scam watch, also provided by consumerprotection.Gov, has a number of resources related to scams. You can read more about them here: https://www.Consumerprotection.Govt.Nz/general-help/scamwatch/

It may be worth filing a report with the SFO serious fraud office. They specialize in investigating fraud that has a large impact, is on a large scale, is complex, and is in the public interest. Depending on the type of scam you were involved in, it may mee the above criteria. If you aren’t sure, it is best to file a report and let them decide: https://www.Sfo.Govt.Nz/complaints

The commerce commission is tasked with protecting new zealand commerce. Since online trading scams are a form of commerce, you should definitely report it to them as well: https://comcom.Govt.Nz/make-a-complaint/complaint-form

South africa

Unfortunately, south africa is known to be a scam hotbed so I’m not sure what that says about the efficaciousness of reporting fraud. Nevertheless, if you want to make a report, it is probably better than not doing so.