Scam library · United Kingdom · Updated 20 October 2026
Investment and crypto scams: what they say, how to spot it, what to do
A polished investment account is not evidence that money can be withdrawn. Check the firm and the offer independently before sending anything else.
What they say
Illustrative examples, written in our own words:
- This investment has a guaranteed return, but the allocation closes tonight.
- Move the conversation to a private chat and I will teach you to trade crypto.
- Your dashboard shows profits; send a tax or release payment to withdraw them.
- We can recover money you lost elsewhere once you pay an upfront fee.
How to spot it
- Returns are promised without a clear explanation of risk, or you are rushed away from independent advice.
- A dashboard balance is used to justify another payment when you try to withdraw.
- The contact borrows a real firm’s name but supplies different contact or payment details.
What to do now
- Stop sending money, including supposed withdrawal, tax and recovery fees.
- Use the FCA’s own scam guidance and Firm Checker route. Contact any authorised firm through the details listed there.
- Keep chat history, account addresses and transaction references. Talk to someone you trust who is outside the conversation.
If you already paid or shared details
Call your bank immediately on the number on your card, using a trusted device. After hanging up, 159 can connect you to participating UK banks; coverage and call charges depend on your provider. Explain what you sent or shared and ask about stopping payments and securing the account.
Tell the bank, card provider or exchange how the payment was made. Crypto transfers and payments to an account in your own name are not automatically covered by APP reimbursement rules. Report the approach to the FCA as well as the police reporting route below.
Under Payment Systems Regulator rules, UK banks and payment firms must refund most eligible authorised push payment (APP) scam losses from UK Faster Payments transfers made on or after 7 October 2024, up to £85,000 per claim. This means you were tricked into authorising a transfer. Eligibility and exceptions apply. Cards, cash, international transfers and crypto payments are not automatically covered by this rule. Report promptly and ask the bank to explain its assessment, any excess and the relevant deadlines.
Keep messages and payment references. In England, Wales and Northern Ireland, report to Report Fraud (formerly Action Fraud). In Scotland, report to Police Scotland on 101. If someone is in immediate danger, call 999.
Forward suspicious SMS texts to 7726 and emails to report@phishing.gov.uk, following GOV.UK reporting guidance. For message apps, use the app’s report and block tools. Reporting a message does not replace contacting your bank about a payment.
Questions people ask
Does appearing on a register prove this contact is genuine?
No. Criminals can impersonate authorised firms. Use the contact details reached through the FCA’s own checking route.
Should I pay a release fee to withdraw my displayed profit?
Stop and verify independently. A balance shown on a website is not proof that money exists or can be withdrawn.