How do I make a complaint to a financial regulator about an investment scam?
You can report investment scams to your national financial regulator — in the UK the FCA, in the US the SEC and CFTC — but regulatory complaints pursue the firm on behalf of the public rather than recovering your individual funds, so bank and legal remedies should be pursued in parallel.
Last reviewed: 10 June 2026
Explanation
Financial regulators such as the FCA (UK), SEC (US), ASIC (Australia), and their equivalents worldwide have powers to investigate and sanction unauthorised financial services firms, freeze assets, and publish warnings. Reporting to them is important and can prevent others from being defrauded by the same operation.
However, it is important to understand that a regulatory complaint is not the same as a compensation claim. Regulators act in the public interest — they pursue the firm and may eventually distribute recovered assets through a compensation process, but this is slow, uncertain, and often results in only partial recovery if anything at all.
For individual compensation, your faster routes are: chargeback or APP fraud claim with your bank (if a qualifying payment method was used), the Financial Services Compensation Scheme (if the firm was UK-regulated), civil litigation, or the Financial Ombudsman Service. Some of these require the firm to have been regulated — if you dealt with an unauthorised firm, FSCS cover generally does not apply.
This is general information. A financial adviser or solicitor can help you identify which compensation or recovery mechanisms are available in your specific situation.
Common red flags
- The firm was not listed on the FCA register or your national equivalent
- Investment returns promised were unrealistically high with no risk disclosed
- You were cold-called or contacted through social media with an investment offer
- Withdrawals were refused or subject to escalating fees
- The firm used a name very similar to a legitimate registered firm (clone firm)
What to do now
- Report to the FCA (UK), SEC/CFTC (US), or your national regulator using their online form
- Check the regulator's warning list to see if the firm is already flagged
- Contact your bank about APP fraud reimbursement for any payments made
- Report to Action Fraud or your national fraud authority for a crime reference number
- Consult a solicitor about civil recovery if losses are substantial
- Do not pay any further 'fees' or 'taxes' to release your investment — these are further scam charges
Frequently asked questions
What is a clone firm and why is it so dangerous?
A clone firm mimics the name, logo, and registration numbers of a legitimate authorised firm to appear trustworthy. Victims believe they are dealing with a regulated entity, making them more likely to invest and less likely to suspect fraud. Always verify contact details directly with the regulator, not using information provided by the firm.
Does FSCS protect me if I invested with an unregulated firm?
Generally no. FSCS protection applies to regulated firms that fail financially. If you dealt with an unregulated or clone firm, FSCS cover is typically not available. This is one reason verifying a firm's regulation status before investing is so important.