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MetaAshes

Spotting a Scam

How to Report an Investment Scam in the UK

This guide explains who to contact after an investment scam, in which order, and what to keep. Acting quickly protects your chance of reimbursement, and the right report reaches the people able to act.

Your Bank Comes First

Contact your bank immediately, using the number on your card or by calling 159. The bank can try to stop or trace a payment, and it is the bank that handles a claim for reimbursement.

Bank transfers made to a fraudster on or after 7 October 2024 may be reimbursed under the Payment Systems Regulator's rules, up to £85,000, provided the claim is made within 13 months of the last payment. A card payment follows a different route: ask the card provider about a chargeback.

Report the Crime to the Police

In England, Wales and Northern Ireland, report fraud to Report Fraud, the national service that replaced Action Fraud, at reportfraud.police.uk or on 0300 123 2040. In Scotland, report to Police Scotland on 101.

The report produces a crime reference number. Give that reference to your bank, which may ask for it when assessing a claim.

Tell the FCA About the Firm

Report the firm to the FCA on 0800 111 6768 or through its online form. Reports of this kind are how firms come to be named on the FCA Warning List, which helps the next person approached by the same operation.

The FCA does not recover individual losses. Its role is to warn the public and act against firms operating without authorisation.

Keep the Evidence Intact

Keep every message, email, contract and statement, together with the website addresses, telephone numbers and bank details you were given and a record of each payment. Screenshots of a website are worth taking before it changes or disappears.

Do not delete conversations or reply to the firm. The details it used are the evidence that links one report to another.

Expect a Second Approach

People who have reported a loss are often contacted again by someone offering to recover the money for a fee. No genuine body charges to return stolen money. Treat any such offer as a further scam until the firm is confirmed on the FCA Register.

How MetaAshes Examines This

A MetaAshes assessment cross-references a firm's details against the official record in a single pass. For this question, the most relevant checks include:

  • FCA Warning List screening
  • Authorisation status
  • Payee name verification
  • Method of first contact
  • Sums requested and paid
  • Recovery room approaches

View all 69 checks

Frequently Asked

Should I report to my bank or the police first?

Your bank first, because speed matters for stopping or tracing a payment. Report Fraud, or Police Scotland, next, and give the crime reference to the bank.

Is Action Fraud still the place to report?

Report Fraud replaced Action Fraud. The telephone number, 0300 123 2040, is the same, and the online service is at reportfraud.police.uk.

Can MetaAshes help before money is sent?

Yes. A MetaAshes assessment tests a firm's authorisation, its contact details, the FCA Warning List and the payee against official records, before any payment leaves your account.

This guide is provided for general information and does not constitute financial or legal advice.