Recovering monies lost to fraud

Please note that any decision to refund any monies lost to fraud lies entirely with the bank/financial institution concerned. Action fraud or Police form no part of the decision- making process.

Fraudsters will often pose as being able to recover monies lost to fraud for an upfront fee which is known as Recovery Fraud, so please ensure that steps are taken to verify any route you may choose to pursue.

The Financial Conduct Authority also has information on Financial Investments.

Minimise fraud risk and control access to your financial information by:

• If money was transferred via bank transferase refer to what to do if you're the victim of a bank transfer (APP-Authorised Push Payment) scam - Which?,
• If payment took place via credit card, please refer to Section 75 of the Consumer Credit Act - Which?,
• If payment was made via a debit card, check to see if you can claim for a refund under a voluntary scheme called Chargeback using this letter template.Debit card payments and purchases are not covered by section 75 of the Consumer Credit Act,
• If the payment was made via an online payment platform such as PayPal, Apple Pay or Google Pay, check to see if you can make a claim under their dispute resolution process. Terms and conditions will apply,
• If a purchase took place via an online marketplace check to see if you are covered under any buyer protection scheme. Please see eBay UK - Buyer Protection Guide, What is Buyer Protection? - Shpock and Buyer Protection (vinted.co.uk),
• Contact Citizens Advice to discuss how it may be possible to get your money back,
• Consider making a court claim or using mediation services Make a court claim for money - GOV.UK (www.gov.uk) (A claim to the small claims court may be done directly or via a Solicitor),
• Consider using a Financial Advisor or Claims Management Company regulated by the Financial Conduct Authority (Check the Financial Services Register to ensure they are regulated. It is also possible to check to see if an individual or company is already known the FCA (Financial Conduct Authority) for being unregulated FCA Warning List of unauthorised firms | FCA.