Can a financial regulator contact me and offer to recover money I lost in a scam?
Genuine regulators do not proactively contact scam victims to offer personal recovery services. Unsolicited offers to recover your scam losses are almost always a secondary scam called a recovery or refund scam.
Last reviewed: 10 June 2026
Explanation
Recovery scams target people who have already lost money to fraud. The scammer poses as a government financial regulator, law enforcement officer, or specialist recovery firm and claims to have located your funds or to have the legal authority to retrieve them. A fee is required upfront to process the recovery.
This is a particularly cruel tactic because it exploits the victim's existing distress and renewed hope. The fees are described as legal expenses, government processing charges, or release bonds. After each payment, another obstacle is introduced. The 'regulator' or 'recovery firm' is entirely fictitious, and the original funds are never returned.
Legitimate financial regulators investigate fraud patterns, issue warnings, and work with law enforcement on systemic cases. They do not proactively contact individual victims to offer personalised recovery services, and they never charge fees for this. If you are owed a refund from a regulated institution, that process is initiated through your complaint to the institution and the regulator's formal dispute resolution system.
If you lost money in a scam and want to explore recovery, contact your bank immediately, file a report with your national fraud authority, and consult a licensed legal professional — not someone who contacts you unsolicited.
Common red flags
- Unsolicited contact claiming to be a regulator offering to recover your lost funds
- Requires an upfront fee to initiate or complete the recovery
- Claims to have already located your money and just needs a small release fee
- Organisation cannot be verified on the official regulator's website
- Previous scam victim support groups you used were how they found you
- Promises a specific recovery amount or timeline
What to do now
- Do not pay any upfront fee for recovery services
- Verify the organisation on the official regulator's website independently
- Report the approach to the regulator being impersonated
- Report to your national fraud authority
- Explore legitimate recovery options through your bank and official complaint channels
- Be cautious of recovery firms even when they are real — only use accredited advisers
Frequently asked questions
Are there any legitimate fraud recovery services?
Some law firms and licensed financial investigators assist with fraud recovery, particularly for large or complex cases. These services are transparent about their fees, have verifiable professional credentials, and never guarantee outcomes. Avoid any that contact you unsolicited.
What legitimate options do I have to recover money from a scam?
Report to your bank immediately — banks sometimes reverse or recall transactions. File with your national fraud authority. If you paid by card, request a chargeback from your card provider. Consult a solicitor or attorney for significant losses.