What is a recovery scam?

A recovery scam targets someone who has already lost money, offering to recover it in exchange for fees or banking information. The criminal may pretend to be a regulator, police officer or legal firm. Knowing details of your earlier loss does not make the offer genuine. 12

By Secordit. Last checked: 7 November 2026.

Go to the steps · All glossary terms

How it works

  1. Someone contacts you about a previous scam or failed investment. 12
  2. They claim money has been found or can be recovered. 12
  3. They demand fees or financial details before releasing it. 12

Real UK example

In February 2023, the National Crime Agency reported an operation against call centres in Romania. Callers targeted people in the UK and abroad who had already lost money.

They claimed to represent the FCA or another regulator and offered recovery for an upfront fee. Investigators found false crypto-wallet evidence. 3

Warning signs

  • An unexpected offer that refers to your earlier loss. 12
  • A charge described as tax, administration or a release fee. 12
  • Pressure to pay before you can check the firm. 12
  • A supposed regulator asks you to transfer money. 1245

What to do now

  1. Stop contact and do not pay another fee. 12
  2. If you paid, tell your bank about the original loss and this further payment. 1245
  3. Check a claimed financial firm independently using the FCA’s checking tools. 12

UK reporting and support

  • If money has gone or banking details were shared, call your bank using the number on your card. Or use 159 if your bank participates. 456
  • Report fraud or hacking in England, Wales or Northern Ireland to Report Fraud. In Scotland, call Police Scotland on 101. 57
  • If someone is in danger, call 999. 7

How to protect yourself

  • Treat unsolicited recovery offers as a reason to pause. 12
  • Contact your bank or the regulator through details you find yourself. 1245
  • Discuss any further payment with someone you trust outside the offer. 1245

Frequently asked questions

Can scammers target me again after I report fraud?

Yes. Criminals may reuse your details or sell them to others. A new caller knowing your loss is not proof of legitimacy. 2

Will the FCA ask me to transfer money to it?

No. The FCA says it will not ask you to transfer money to it or give sensitive banking information. 8

Are all recovery services scams?

No. Check whether a firm has permission for the service it offers. Do not trust an unexpected approach or copied firm details. 2

Matching kit

After a Scam: What to Do First · £7 · Digital download.

A printable UK checklist for the money, account and reporting steps. It is general information, not a recovery service.

General information, not legal, financial or personalised security advice. Secordit is not a police or bank reporting service.

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Sources

  1. Report Fraud, Recovery fraud - Report Fraud. Accessed 7 November 2026 (Europe/London).
  2. FCA, Recovery room scams | FCA. Accessed 7 November 2026 (Europe/London).
  3. GOV.UK, Fraud targeted thousands across UK and abroad - National Crime Agency. Accessed 7 November 2026 (Europe/London).
  4. UK Finance, Authorised Push Payment Fraud Reimbursement | UK Finance. Accessed 7 November 2026 (Europe/London).
  5. Report Fraud, Report Fraud alert: Police forces being impersonated in scam calls using ‘spoofed’ phone numbers - Report Fraud. Accessed 7 November 2026 (Europe/London).
  6. Stop Scams UK, 159 Phone number - Stop Scams UK. Accessed 7 November 2026 (Europe/London).
  7. Police Scotland, How to report a crime - Police Scotland. Accessed 7 November 2026 (Europe/London).
  8. FCA, Almost 5,000 fake FCA scams reported in first 6 months of 2025 | FCA. Accessed 7 November 2026 (Europe/London).