A call 'from the regulator', your bank or the police: how to spot impersonation
One of the cruellest variants of investment fraud comes after you have lost money. Someone calls claiming to be from the financial regulator, the central bank, the police, Europol, a court or your bank. They know your name, how much you lost and on which platform. They say the scammers have been caught and your money can be returned… if you first pay some “fees”, “taxes” or a “verification deposit”.
It is another scam, often run by the same people who deceived you the first time.
How they contact you
- Calls from numbers that look official, sometimes spoofed so the real number of an institution appears.
- Emails and letters with logos, stamps and case numbers.
- WhatsApp messages with photos of “badges” or ID cards of supposed officers.
- Websites imitating regulators or “recovered funds departments”.
Warning signs
- They ask for money to give you your money back. No authority charges for this.
- They want payment in crypto, gift cards or transfers to personal or overseas accounts.
- They ask you to install remote-access software or for your banking passwords.
- They demand secrecy: “don’t tell your bank, the investigation is confidential”.
- They rush you with deadlines or threats (“if you don’t pay today you lose your right”).
What you need to know
- Financial regulators do not call individuals to return money or run fund recoveries. Check their official websites for warnings about impersonation — for example the UK’s FCA.
- The police do not charge to return stolen money. If there is a real investigation, they will contact you through official channels.
- Your bank will never ask you to move your money to a “safe account”.
What to do
- Hang up. Do not confirm any details or continue the conversation.
- Check independently: find the institution’s official number on its website and call it yourself.
- Do not pay anything and do not install anything.
- Report the attempt, with screenshots and phone numbers: how to report an investment scam.
- Alert your bank so it watches for suspicious activity.
Read also our guide on fund recovery scams and our victim guide.