Is a Bitcoin or crypto investment my accountant or financial adviser recommended safe?
Not automatically. Advisers and accountants can themselves be defrauded or may recommend unregulated products that are not suitable or lawful to advise on.
Last reviewed: 1 June 2026
Explanation
Third-party recommendation fraud occurs when a trusted professional is either compromised themselves, receives a commission to recommend a product, or is used as a social engineering tool by scammers who encourage you to involve your adviser to appear credible. Some advisers are also unqualified to give advice on cryptocurrency investments, and doing so may be unlawful. Before acting on any crypto recommendation — even from a trusted professional — verify the investment platform is registered with your financial regulator, confirm the adviser is specifically authorised to advise on the product type, and obtain a second opinion from an independent financial adviser. Never invest based on a single recommendation alone, regardless of the source.
Common red flags
- Platform cannot be found on your financial regulator's register
- Adviser earns a commission from the recommendation
- Adviser is not specifically authorised to advise on crypto assets
- Investment promises high fixed returns with no risk disclosure
- Adviser pressures you to invest quickly to lock in a rate
What to do now
- Check the platform on your financial regulator's authorised firms register
- Verify your adviser's authorisation covers the specific product
- Seek an independent second opinion
- Report unregulated investment advice to your financial regulator
Frequently asked questions
Can I complain if my adviser recommended a fraudulent investment?
If your adviser is regulated, you can complain to the relevant ombudsman service. If they are not regulated, report them to the financial regulator and police.