Chargebacks: how to try to get money back from a fake investment platform
If you have paid a fraudulent investment platform, your bank is the fastest real route to try to get your money back. There are no guarantees, but the sooner you act, the better your chances. This guide explains what you can ask for depending on how you paid.
If you paid by card: the chargeback
A chargeback is a claim your bank makes against the merchant that received the payment, through the card network (Visa, Mastercard…). If it succeeds, the money returns to your account.
How to request it:
- Call your bank now and explain you are the victim of investment fraud. Ask them to block the card if you shared its details.
- Explicitly request a chargeback for each payment. Say the service was fraudulent and was not provided (the “platform” is not real or will not let you withdraw).
- Send the evidence they ask for: screenshots of the site and the ad, emails, chats, payment receipts and, if you have it, the police report.
- Get a case number and keep everything in writing.
Time limits: card networks set limited windows for disputes, typically around 120 days from the charge, although this depends on the bank, card type and dispute reason. Do not wait: dispute as soon as you realise it was a scam.
Note: if you authorised the payments yourself, some banks may say it is not “card fraud” but a consented payment. Insist that the service was a scam and was never provided, and if the bank refuses, escalate through its complaints process and then to your country’s financial ombudsman (in the UK, the Financial Ombudsman Service).
If you paid by bank transfer
Transfers have no chargeback, but you can ask your bank to try to recall the payment: your bank contacts the receiving bank to request the money back. It works best the faster you ask, ideally on the same day.
- Call your bank and ask for a fraud recall of the transfer.
- Provide the destination account details and the beneficiary’s name.
- File a police report as soon as possible: many banks require it.
- In the UK, ask whether the payment is covered by the reimbursement rules for authorised push payment (APP) fraud.
If you paid in crypto
Crypto payments cannot be reversed. Even so:
- Notify the exchange you sent the funds from and report the destination address.
- Include wallet addresses and transaction IDs in your police report.
- If the money first left your bank for the exchange, check with your bank too.
If you used a payment service (PayPal, etc.)
Contact the service immediately and open a dispute. Each has its own rules and time limits.
What not to do
- Do not pay anyone who promises to recover your money. The real routes (bank, police, regulator, ombudsman) do not charge upfront. Read our guide to fund recovery scams.
- Do not keep paying the platform to “unlock” your profits.
- Do not delete chats, emails or screenshots: they are your evidence.
The remaining steps are in our victim guide. And to avoid it happening again, learn how to check if a broker is regulated.
This guide is for information only and does not replace advice from your bank or a lawyer.