A "fund recovery" firm calls after you've been scammed — but you have to pay upfront
After you have lost money to a previous scam, a caller says they are a solicitor, "asset recovery agent", or FCA-approved firm who can trace and recover your money — for an upfront fee. This is a second, coordinated scam using lists of victims sold between fraud gangs. Legitimate recovery is done through your bank, the FCA, and the Financial Ombudsman — never a cold caller.
Also known as: fund recovery scam, advance fee recovery fraud, crypto recovery scam UK, FCA impersonation recovery scam
Already happened to you? Do this in the next few minutes
- 1 Call your bank or card's fraud line right now. Use the number on the back of your card — not any number from the message or caller. Ask them to stop or reverse the payment and freeze the account.
- 2 If you paid by gift card, wire, or an app (Zelle, Venmo, Cash App): contact that company immediately and report it as fraud. Acting fast sometimes recovers the money.
- 3 Report to the FBI at ic3.gov and the FTC at reportfraud.ftc.gov. The sooner, the better.
- ! If you installed any "support", "server", "refund", or remote-access app at their request (AnyDesk, TeamViewer, Quick Support, etc.): disconnect the internet now, then run free SeraphSecure (https://www.seraphsecure.com) to detect and remove it.
What to do right now
- 1 Any unsolicited call offering to recover money you have lost is almost certainly a scam — hang up and block the number
- 2 Check whether any firm calling you is FCA-authorised by searching the FCA Register at https://register.fca.org.uk yourself — do not rely on the firm number they give you over the phone
- 3 If you were scammed originally, contact your bank first — under the Contingent Reimbursement Model Code, many banks refund victims of Authorised Push Payment fraud when reported promptly
- 4 For unresolved bank disputes, go to the Financial Ombudsman Service at https://www.financial-ombudsman.org.uk — this service is free and requires no upfront fee
- 5 If you installed any 'support' or 'server' or 'refund app' or remote-access app at the scammer's request (AnyDesk, TeamViewer, Quick Support, etc.), run free SeraphSecure (https://www.seraphsecure.com) to detect and remove it.
- 6 Report to Action Fraud at https://www.actionfraud.police.uk or call 0300 123 2040.
Was remote-access software installed?
If a scammer asked you to install AnyDesk, TeamViewer, Quick Support, or any remote-access app, your device may still be compromised.
Run SeraphSecure to detect and remove it →Red flags
- ⚠ The caller says they know exactly which previous scam you lost money to and mention specific amounts — victim lists are sold and re-used
- ⚠ They claim to be FCA-registered, but the firm number they give doesn't appear in the FCA Register at https://register.fca.org.uk
- ⚠ They guarantee recovery — no legitimate recovery service can promise this, and the FCA does not endorse third-party recovery firms
- ⚠ You are asked to pay an upfront 'retainer', 'legal fee', 'court fee', or 'international transfer tax' before any money is recovered
- ⚠ Payment is demanded by bank transfer, crypto, or gift card — never through solicitor's client account or via an FCA-authorised firm
Known variants
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Fake FCA employee variant: caller identifies themselves as an FCA case officer, provides a badge number, and offers to release compensation from a 'consumer recovery fund' after you pay a small 'processing fee'. The real FCA never charges consumers and never contacts victims to release money.
Last seen: 5/15/2026
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Crypto recovery specialist variant: on Telegram or Instagram, an account claiming to be a 'blockchain forensics expert' offers to trace and recover lost crypto for a fee. Victims pay in the same crypto they lost, then lose that too. Common target: previous pig-butchering victims.
Last seen: 6/15/2026