How to help a family member who is falling for an investment scam

Updated on October 29, 2026

Many scams are uncovered because a relative spots them before the victim does: a mother talking about her “advisor”, a father who has taken a loan for “an opportunity”, a friend showing off how much they are earning on their phone. If you are in that situation, how you talk to them can make all the difference.

Signs someone is caught in a scam

• They talk about a platform or app that “makes a lot of money” and an “advisor” or “manager” calls them.
• They have installed software like AnyDesk, or someone “helps” them trade from another computer.
• They have taken loans, sold something or are using savings to “invest more”.
• They are being asked to pay taxes or fees before they can withdraw.
• They have become secretive about it, or say “you wouldn’t understand”.
• They are in an online relationship with someone teaching them to invest (a romance scam).

How to talk to them

• Do not blame or ridicule them. Shame makes people shut down and keep paying in secret. These scams are designed by professionals, and people of every age and background fall for them.
• Ask rather than assert. “What’s the platform called? Can you show me?” works better than “that’s a scam”.
• Check together. Search the name on InvestRedFlags and on the regulator’s register: how to check if a broker is regulated. Seeing it for themselves is more convincing than any argument.
• Suggest a simple test: request a withdrawal of a significant amount. If they are told to pay first, that is the definitive proof.
• Explain the mechanism, not just the conclusion: the balance on the screen is not real money. Reading what returns are realistic together can help.
• Be patient. Scammers will have primed them to distrust family (“they’ll tell you it’s a scam, but they don’t understand”).

What to do once they accept it

1. Stop paying immediately, whatever the “advisor” says.
2. Call the bank together to block cards and ask to reverse the payments.
3. Uninstall remote-access software and change passwords from another device: steps if they installed AnyDesk.
4. Report it with all the evidence: how to report.
5. Warn them about the second scam: they will get calls offering to recover the money or pretending to be the police. Here is how that works.

Look after the emotional side too

Losing money to a scam brings shame, guilt and sometimes isolation. Stay with them, remind them they are the victim of a crime and, if they need it, encourage them to talk to a professional. The money matters, but making sure they are not alone with it matters more.