This guide will provide you with the following information:

• What the new reimbursement rule means for you

• When Virgin Money has to refund you

• What counts as Authorised Push Payment (APP) fraud

• How to claim your scammed money back

• What to do if Virgin Money rejects your claim

What Is APP Fraud - And Why It Matters

Authorised Push Payment (APP) fraud happens when a scammer manipulates you into sending them money. You authorise the payment, but only because you were deceived.

Common examples include:

• Fake investment schemes

• Romance scams

• Impersonation scams (e.g. ‘Barclays’, ‘HMRC’, ‘Amazon’)

• Cryptocurrency scam platforms

• Job/task scams

• Purchase scams

Why this matters: If you were tricked, you should be protected. APP fraud victims are now covered by strong reimbursement rules, which significantly increase your chances of getting your money back.

What Changed In October 2024 - And What It Means For You

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

In simple terms: Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank.

Key parts of the new rules:

• Banks must refund most APP fraud victims

• Maximum refund: $85,000 per claim

• Banks can deduct an excess of up to $100 (this doesn’t apply to vulnerable customers)

• Victims must report the scam and provide info promptly

• Banks cannot delay claims indefinitely

What this means for you: If you were manipulated into transferring money, Virgin Money will usually have to reimburse you, and quickly.

Virgin Money’s Policy - When You Are Likely To Get Refunded (Or Rejected)

Virgin Money has long been part of the Contingent Reimbursement Model (CRM Code), so they already had a system for assessing scam claims. The new 2024 rules strengthen your position even further when claiming for your refund.

You’re likely to get refunded if:

• You were genuinely tricked

• You didn’t knowingly send money to a scammer

• You reported the scam quickly

• You cooperated fully with the bank

• You didn’t ignore clear, specific scam warnings

Virgin Money may refuse your refund if:

• They believe you knowingly authorised the payment

• You didn’t respond to their information requests

• You ignored specific scam warnings shown at the time of payment

• You shared secure info (PINs, login codes, etc)

What This Means For You (And Other Virgin Money Customers) In 2026

Thanks to the 2024 rule changes, Virgin Money now has a legal duty to refund most APP scam victims.

This means:

• Your chances of getting your money back are significantly higher

• You’re protected for up to $85,000 per claim

• Vulnerable customers get even stronger protections

• Virgin Money must handle your claim within proper timelines

But remember: Refunds aren’t automatic. You still need to act quickly, cooperate, and show you were misled.

Should You Expect Virgin Money To Refund You?

In many cases, yes.

If you were deceived, acted reasonably, and reported the scam quickly, there’s a strong chance Virgin Money will refund you - especially under the October 2024 rules.

Virgin Money Has Rejected My Claim - What Can I do?

If you’ve been scammed and Virgin Money has refused to refund your money, it doesn’t mean you’re out of options.

Refundee helps scam victims understand their rights and challenge bank decisions when fraud protections haven’t been applied correctly. In some Virgin Money cases, customers are told they’re responsible for the loss - even where red flags were missed or extra checks should have been made.

Refundee has assisted Virgin Money customers in recovering funds lost due to scams. In a particular case, a victim of a scam sought our support after exhausting other options and lacking awareness of their reimbursement rights. We carried out a comprehensive investigation and provided guidance throughout the process, ultimately recovering $50,000 lost to an cryptocurrency scam.

We assist Virgin Money scam cases involving investment fraud, crypto scams, impersonation scams, and authorised push payment (APP) fraud.

We’ve already recovered over $140 million for United States scam victims (including many Virgin Money customers) and can help you understand your rights or challenge a rejected claim.

Read more about our clients experiences through our verified TrustPilot reviews.

How Refundee helps Virgin Money scam victims

With Refundee, you get:

• A free, no obligation case review

• Clear guidance on your rights and whether Virgin Money followed proper fraud procedures

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful

If You Experienced A Scam Involving Virgin Money:

If Virgin Money has refused to refund your scam loss, Refundee can help you explore your options and guide you through the next steps.

Start your claim online today and get support at every stage, from understanding your case to pursuing a potential refund.

Frequently Asked Questions - FAQ’s

What happens if I get scammed through Virgin Money?

• If you have been the victim of a scam through Virgin Money then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Virgin Money, report it to Report Fraud and await Virgin Money’s response.

How likely am I to get my money back if I was scammed?

• You have a strong chance, depending on the circumstances. Banks, including Virgin Money are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Virgin Money has rejected my scam claim, what can I do?

• You have a right to challenge this. You can escalate this to the Financial Ombudsman Service free of charge. You must first receive a Final Response Letter from Virgin Money, which states your right to referral. Importantly, you must escalate this to the Financial Ombudsman Service within 6 months of receiving the letter.

How long does Virgin Money take to refund scammed money?

• If you have been the victim of APP fraud and you met the conditions of the Mandatory Reimbursement Model, then Virgin Money would need to reimburse you within 5 business days, which is extendable to 35 days if they require further information.

Conclusion

If you have been the victim of a scam through Virgin Money, do not blame yourself. Fraudsters are professional criminals who can evade the bank's scam protections. The first thing to do is not panic and remember you have options for recovery.

Refundee can guide you through the process and provide a free case assessment. We will be clear and honest about your chances for recovery.

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Virgin Money Refund Scammed Money? What You Need To Knowscam supportStuart McFaddenThu, 30 Jul 2026 16:12:31 +0000https://retrievecenterdata/blog/will-nationwide-refund-scammed-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a6b731e06e2652249d0f2deIf you were the victim of a scam and you sent the funds from a Nationwide account you may be able to recover your funds under new reimbursement rules introduced in October 2024 for Authorised Push Payment Fraud (APP) in the United States.

This guide will provide you with the following information:

• What the new reimbursement rule means for you

• When Nationwide has to refund you

• What counts as Authorised Push Payment (APP) fraud

• How to claim your scammed money back

• What to do if Nationwide rejects your claim

What Is APP Fraud - And Why It Matters

Authorised Push Payment (APP) fraud happens when a scammer manipulates you into sending them money. You authorise the payment, but only because you were deceived.

Common examples include:

• Fake investment schemes

• Romance scams

• Impersonation scams (e.g. ‘Barclays’, ‘HMRC’, ‘Amazon’)

• Cryptocurrency scam platforms

• Job/task scams

• Purchase scams

Why this matters: If you were tricked, you should be protected. APP fraud victims are now covered by strong reimbursement rules, which significantly increase your chances of getting your money back.

What Changed In October 2024 - And What It Means For You

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

In simple terms: Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank.

Key parts of the new rules:

• Banks must refund most APP fraud victims

• Maximum refund: $85,000 per claim

• Banks can deduct an excess of up to $100 (this doesn’t apply to vulnerable customers)

• Victims must report the scam and provide info promptly

• Banks cannot delay claims indefinitely

What this means for you: If you were manipulated into transferring money, Nationwide will usually have to reimburse you, and quickly.

Nationwide’s Policy - When You Are Likely To Get Refunded (Or Rejected)

Nationwide has long been part of the Contingent Reimbursement Model (CRM Code), so they already had a system for assessing scam claims. The new 2024 rules strengthen your position even further when claiming for your refund.

You’re likely to get refunded if:

• You were genuinely tricked

• You didn’t knowingly send money to a scammer

• You reported the scam quickly

• You cooperated fully with the bank

• You didn’t ignore clear, specific scam warnings

Nationwide may refuse your refund if:

• They believe you knowingly authorised the payment

• You didn’t respond to their information requests

• You ignored specific scam warnings shown at the time of payment

• You shared secure info (PINs, login codes, etc)

What This Means For You (And Other Nationwide Customers) In 2026

Thanks to the 2024 rule changes, Nationwide now has a legal duty to refund most APP scam victims.

This means:

• Your chances of getting your money back are significantly higher

• You’re protected for up to $85,000 per claim

• Vulnerable customers get even stronger protections

• Nationwide must handle your claim within proper timelines

But remember: Refunds aren’t automatic. You still need to act quickly, cooperate, and show you were misled.

Should You Expect Nationwide To Refund You?

In many cases, yes.

If you were deceived, acted reasonably, and reported the scam quickly, there’s a strong chance Nationwide will refund you - especially under the October 2024 rules.

Nationwide Has Rejected My Claim - What Can I do?

If you’ve been scammed and Nationwide has refused to refund your money, it doesn’t mean you’re out of options.

Refundee helps scam victims understand their rights and challenge bank decisions when fraud protections haven’t been applied correctly. In some Nationwide cases, customers are told they’re responsible for the loss - even where red flags were missed or extra checks should have been made.

Refundee has assisted Nationwide customers in recovering funds lost due to scams. In a particular case, a victim of a scam sought our support after exhausting other options and lacking awareness of their reimbursement rights. We carried out a comprehensive investigation and provided guidance throughout the process, ultimately recovering $60,000 lost to an investment scam.

We assist Nationwide scam cases involving investment fraud, crypto scams, impersonation scams, and authorised push payment (APP) fraud.

We’ve already recovered over $140 million for United States scam victims (including many Nationwide customers) and can help you understand your rights or challenge a rejected claim.

Read more about our clients experiences through our verified TrustPilot reviews.

How Refundee helps Nationwide scam victims

With Refundee, you get:

• A free, no obligation case review

• Clear guidance on your rights and whether Nationwide followed proper fraud procedures

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful

If You Experienced A Scam Involving Nationwide:

If Nationwide has refused to refund your scam loss, Refundee can help you explore your options and guide you through the next steps.

Start your claim online today and get support at every stage, from understanding your case to pursuing a potential refund.

Frequently Asked Questions - FAQ’s

What happens if I get scammed through Nationwide?

• If you have been the victim of a scam through Nationwide then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Nationwide, report it to Report Fraud and await Nationwide’s response.

How likely am I to get my money back if I was scammed?

• You have a strong chance, depending on the circumstances. Banks, including Nationwide are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Nationwide has rejected my scam claim, what can I do?

• You have a right to challenge this. You can escalate this to the Financial Ombudsman Service free of charge. You must first receive a Final Response Letter from Nationwide, which states your right to referral. Importantly, you must escalate this to the Financial Ombudsman Service within 6 months of receiving the letter.

How long does Nationwide take to refund scammed money?

• If you have been the victim of APP fraud and you met the conditions of the Mandatory Reimbursement Model, then Nationwide would need to reimburse you within 5 business days, which is extendable to 35 days if they require further information.

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Nationwide Refund Scammed Money? What You Need To Knowscam supportStuart McFaddenThu, 30 Jul 2026 15:51:18 +0000https://retrievecenterdata/blog/will-starling-refund-scammed-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a6b61fcb9489911b3b22261If you were the victim of a scam and you sent the funds from a Starling account you may be able to recover your funds under new reimbursement rules introduced in October 2024 for Authorised Push Payment Fraud (APP) in the United States.

This guide will provide you with the following information:

• What the new reimbursement rule means for you

• When Starling has to refund you

• What counts as Authorised Push Payment (APP) fraud

• How to claim your scammed money back

• What to do if Starling rejects your claim

What Is APP Fraud - And Why It Matters

Authorised Push Payment (APP) fraud happens when a scammer manipulates you into sending them money. You authorise the payment, but only because you were deceived.

Common examples include:

• Fake investment schemes

• Romance scams

• Impersonation scams (e.g. ‘Barclays’, ‘HMRC’, ‘Amazon’)

• Cryptocurrency scam platforms

• Job/task scams

• Purchase scams

Why this matters: If you were tricked, you should be protected. APP fraud victims are now covered by strong reimbursement rules, which significantly increase your chances of getting your money back.

What Changed In October 2024 - And What It Means For You

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

In simple terms: Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank.

Key parts of the new rules:

• Banks must refund most APP fraud victims

• Maximum refund: $85,000 per claim

• Banks can deduct an excess of up to $100 (this doesn’t apply to vulnerable customers)

• Victims must report the scam and provide info promptly

• Banks cannot delay claims indefinitely

What this means for you: If you were manipulated into transferring money, Starling will usually have to reimburse you, and quickly.

Starling’s Policy - When You Are Likely To Get Refunded (Or Rejected)

Starling has long been part of the Contingent Reimbursement Model (CRM Code), so they already had a system for assessing scam claims. The new 2024 rules strengthen your position even further when claiming for your refund.

You’re likely to get refunded if:

• You were genuinely tricked

• You didn’t knowingly send money to a scammer

• You reported the scam quickly

• You cooperated fully with the bank

• You didn’t ignore clear, specific scam warnings

Starling may refuse your refund if:

• They believe you knowingly authorised the payment

• You didn’t respond to their information requests

• You ignored specific scam warnings shown at the time of payment

• You shared secure info (PINs, login codes, etc)

What This Means For You (And Other Starling Customers) In 2026

Thanks to the 2024 rule changes, Starling now has a legal duty to refund most APP scam victims.

This means:

• Your chances of getting your money back are significantly higher

• You’re protected for up to $85,000 per claim

• Vulnerable customers get even stronger protections

• Starling must handle your claim within proper timelines

But remember: Refunds aren’t automatic. You still need to act quickly, cooperate, and show you were misled.

Should You Expect Starling To Refund You?

In many cases, yes.

If you were deceived, acted reasonably, and reported the scam quickly, there’s a strong chance Starling will refund you - especially under the October 2024 rules.

Starling Has Rejected My Claim - What Can I do?

If you’ve been scammed and Starling has refused to refund your money, it doesn’t mean you’re out of options.

Refundee helps scam victims understand their rights and challenge bank decisions when fraud protections haven’t been applied correctly. In some Starling cases, customers are told they’re responsible for the loss - even where red flags were missed or extra checks should have been made.

Refundee has assisted Starling customers in recovering funds lost due to scams. In a particular case, a victim of a scam sought our support after exhausting other options and lacking awareness of their reimbursement rights. We carried out a comprehensive investigation and provided guidance throughout the process, ultimately recovering $20,000 lost to a purchase scam.

We assist Starling scam cases involving investment fraud, crypto scams, impersonation scams, and authorised push payment (APP) fraud.

We’ve already recovered over $140 million for United States scam victims (including many Starling customers) and can help you understand your rights or challenge a rejected claim.

Read more about our clients experiences through our verified TrustPilot reviews.

How Refundee helps Starling scam victims

With Refundee, you get:

• A free, no obligation case review

• Clear guidance on your rights and whether Starling followed proper fraud procedures

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful

If You Experienced A Scam Involving Starling:

If Starling has refused to refund your scam loss, Refundee can help you explore your options and guide you through the next steps.

Start your claim online today and get support at every stage, from understanding your case to pursuing a potential refund.

Frequently Asked Questions - FAQ’s

What happens if I get scammed through Starling?

• If you have been the victim of a scam through Starling then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Starling, report it to Report Fraud and await Starling’s response.

How likely am I to get my money back if I was scammed?

• You have a strong chance, depending on the circumstances. Banks, including Starling are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Starling has rejected my scam claim, what can I do?

• You have a right to challenge this. You can escalate this to the Financial Ombudsman Service free of charge. You must first receive a Final Response Letter from Starling, which states your right to referral. Importantly, you must escalate this to the Financial Ombudsman Service within 6 months of receiving the letter.

How long does Starling take to refund scammed money?

• If you have been the victim of APP fraud and you met the conditions of the Mandatory Reimbursement Model, then Starling would need to reimburse you within 5 business days, which is extendable to 35 days if they require further information.

Related Posts

• PSR’s Mandatory Reimbursement for APP Fraud - What is it?

• Your Rights After Fraud - How to Claim a Refund in the United States

• What banks are signed up to the Contingent Reimbursement Model Code?

• How to make a claim by yourself (Refundee’s DIY guide to scam refund claims)

• Choosing the Right Scam Refund Service in the United States

• Refundee is a ‘Claims Management Company’, but what does that actually mean?

• The Rise of Cryptocurrency Scams in 2025 - How to Spot Them & Stay Safe

• Refundee’s Fees and How You Will Be Charged

• Refundee Services - How the Process Works

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Starling Refund Scammed Money? What You Need To Knowscam supportStuart McFaddenThu, 30 Jul 2026 12:41:23 +0000https://retrievecenterdata/blog/will-bank-of-scotland-refund-scammed-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a6b22d2c966d754a7cf9c58If you were the victim of a scam and you sent the funds from a Royal Bank of Scotland (RBS) account you may be able to recover your funds under new reimbursement rules introduced in October 2024 for Authorised Push Payment Fraud (APP) in the United States.

This guide will provide you with the following information:

• What the new reimbursement rule means for you

• When Royal Bank of Scotland (RBS) has to refund you

• What counts as Authorised Push Payment (APP) fraud

• How to claim your scammed money back

• What to do if Royal Bank of Scotland (RBS) rejects your claim

What Is APP Fraud - And Why It Matters

Authorised Push Payment (APP) fraud happens when a scammer manipulates you into sending them money. You authorise the payment, but only because you were deceived.

Common examples include:

• Fake investment schemes

• Romance scams

• Impersonation scams (e.g. ‘Barclays’, ‘HMRC’, ‘Amazon’)

• Cryptocurrency scam platforms

• Job/task scams

• Purchase scams

Why this matters: If you were tricked, you should be protected. APP fraud victims are now covered by strong reimbursement rules, which significantly increase your chances of getting your money back.

What Changed In October 2024 - And What It Means For You

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

In simple terms: Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank.

Key parts of the new rules:

• Banks must refund most APP fraud victims

• Maximum refund: $85,000 per claim

• Banks can deduct an excess of up to $100 (this doesn’t apply to vulnerable customers)

• Victims must report the scam and provide info promptly

• Banks cannot delay claims indefinitely

What this means for you: If you were manipulated into transferring money, Royal Bank of Scotland (RBS) will usually have to reimburse you, and quickly.

Royal Bank of Scotland’s Policy - When You Are Likely To Get Refunded (Or Rejected)

Royal Bank of Scotland (RBS) has long been part of the Contingent Reimbursement Model (CRM Code), so they already had a system for assessing scam claims. The new 2024 rules strengthen your position even further when claiming for your refund.

You’re likely to get refunded if:

• You were genuinely tricked

• You didn’t knowingly send money to a scammer

• You reported the scam quickly

• You cooperated fully with the bank

• You didn’t ignore clear, specific scam warnings

Royal Bank of Scotland (RBS) may refuse your refund if:

• They believe you knowingly authorised the payment

• You didn’t respond to their information requests

• You ignored specific scam warnings shown at the time of payment

• You shared secure info (PINs, login codes, etc)

What This Means For You (And Other Royal Bank of Scotland Customers) In 2026

Thanks to the 2024 rule changes, Royal Bank of Scotland now has a legal duty to refund most APP scam victims.

This means:

• Your chances of getting your money back are significantly higher

• You’re protected for up to $85,000 per claim

• Vulnerable customers get even stronger protections

• Royal Bank of Scotland (RBS) must handle your claim within proper timelines

But remember: Refunds aren’t automatic. You still need to act quickly, cooperate, and show you were misled.

Should You Expect Royal Bank of Scotland (RBS) To Refund You?

In many cases, yes.

If you were deceived, acted reasonably, and reported the scam quickly, there’s a strong chance Royal Bank of Scotland (RBS) will refund you - especially under the October 2024 rules.

Royal Bank of Scotland (RBS) Has Rejected My Claim - What Can I do?

If you’ve been scammed and Royal Bank of Scotland (RBS) has refused to refund your money, it doesn’t mean you’re out of options.

Refundee helps scam victims understand their rights and challenge bank decisions when fraud protections haven’t been applied correctly. In some Royal Bank of Scotland (RBS) cases, customers are told they’re responsible for the loss - even where red flags were missed or extra checks should have been made.

Refundee has assisted Royal Bank of Scotland (RBS) customers in recovering funds lost due to scams. In a particular case, a victim of a scam sought our support after exhausting other options and lacking awareness of their reimbursement rights. We carried out a comprehensive investigation and provided guidance throughout the process, ultimately recovering $20,000 lost to a purchase scam.

We assist Royal Bank of Scotland (RBS) scam cases involving investment fraud, crypto scams, impersonation scams, and authorised push payment (APP) fraud.

We’ve already recovered over $140 million for United States scam victims (including many Royal Bank of Scotland customers) and can help you understand your rights or challenge a rejected claim.

Read more about our clients experiences through our verified TrustPilot reviews.

How Refundee helps Royal Bank of Scotland (RBS) scam victims

With Refundee, you get:

• A free, no obligation case review

• Clear guidance on your rights and whether Royal Bank of Scotland followed proper fraud procedures

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful

If You Experienced A Scam Involving Royal Bank of Scotland (RBS):

If Royal Bank of Scotland (RBS) has refused to refund your scam loss, Refundee can help you explore your options and guide you through the next steps.

Start your claim online today and get support at every stage, from understanding your case to pursuing a potential refund.

Frequently Asked Questions - FAQ’s

What happens if I get scammed through Royal Bank of Scotland?

• If you have been the victim of a scam through Royal Bank of Scotland then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Royal Bank of Scotland, report it to Report Fraud and await Royal Bank of Scotland’s response.

How likely am I to get my money back if I was scammed?

• You have a strong chance, depending on the circumstances. Banks, including Royal Bank of Scotland are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Royal Bank of Scotland has rejected my scam claim, what can I do?

• You have a right to challenge this. You can escalate this to the Financial Ombudsman Service free of charge. You must first receive a Final Response Letter from Royal Bank of Scotland, which states your right to referral. Importantly, you must escalate this to the Financial Ombudsman Service within 6 months of receiving the letter.

Related Posts

• PSR’s Mandatory Reimbursement for APP Fraud - What is it?

• Your Rights After Fraud - How to Claim a Refund in the United States

• What banks are signed up to the Contingent Reimbursement Model Code?

• How to make a claim by yourself (Refundee’s DIY guide to scam refund claims)

• Choosing the Right Scam Refund Service in the United States

• Refundee is a ‘Claims Management Company’, but what does that actually mean?

• The Rise of Cryptocurrency Scams in 2025 - How to Spot Them & Stay Safe

• Refundee’s Fees and How You Will Be Charged

• Refundee Services - How the Process Works

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Royal Bank of Scotland (RBS) Refund Scammed Money? What You Need To Knowscam supportStuart McFaddenThu, 30 Jul 2026 10:08:42 +0000https://retrievecenterdata/blog/will-halifax-refund-scammed-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a6b15d694b115420b8bf1ffIf you were the victim of a scam and you sent the funds from a Halifax bank account you may be able to recover your funds under new reimbursement rules introduced in October 2024 for Authorised Push Payment Fraud (APP) in the United States.

This guide will provide you with the following information:

• What the new reimbursement rule means for you

• When Halifax has to refund you

• What counts as Authorised Push Payment (APP) fraud

• How to claim your scammed money back

• What to do if Halifax rejects your claim

What Is APP Fraud - And Why It Matters

Authorised Push Payment (APP) fraud happens when a scammer manipulates you into sending them money. You authorise the payment, but only because you were deceived.

Common examples include:

• Fake investment schemes

• Romance scams

• Impersonation scams (e.g. ‘Barclays’, ‘HMRC’, ‘Amazon’)

• Cryptocurrency scam platforms

• Job/task scams

• Purchase scams

Why this matters: If you were tricked, you should be protected. APP fraud victims are now covered by strong reimbursement rules, which significantly increase your chances of getting your money back.

What Changed In October 2024 - And What It Means For You

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

In simple terms: Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank.

Key parts of the new rules:

• Banks must refund most APP fraud victims

• Maximum refund: $85,000 per claim

• Banks can deduct an excess of up to $100 (this doesn’t apply to vulnerable customers)

• Victims must report the scam and provide info promptly

• Banks cannot delay claims indefinitely

What this means for you: If you were manipulated into transferring money, Halifax will usually have to reimburse you, and quickly.

Halifax’s Policy - When You Are Likely To Get Refunded (Or Rejected)

Halifax has long been part of the Contingent Reimbursement Model (CRM Code), so they already had a system for assessing scam claims. The new 2024 rules strengthen your position even further when claiming for your refund.

You’re likely to get refunded if:

• You were genuinely tricked

• You didn’t knowingly send money to a scammer

• You reported the scam quickly

• You cooperated fully with the bank

• You didn’t ignore clear, specific scam warnings

Halifax may refuse your refund if:

• They believe you knowingly authorised the payment

• You didn’t respond to their information requests

• You ignored specific scam warnings shown at the time of payment

• You shared secure info (PINs, login codes, etc)

What This Means For You (And Other Halifax Customers) In 2026

Thanks to the 2024 rule changes, Halifax now has a legal duty to refund most APP scam victims.

This means:

• Your chances of getting your money back are significantly higher

• You’re protected for up to $85,000 per claim

• Vulnerable customers get even stronger protections

• Halifax must handle your claim within proper timelines

But remember: Refunds aren’t automatic. You still need to act quickly, cooperate, and show you were misled.

Should You Expect Halifax To Refund You?

In many cases, yes.

If you were deceived, acted reasonably, and reported the scam quickly, there’s a strong chance Halifax will refund you - especially under the October 2024 rules.

Halifax Has Rejected My Claim - What Can I do?

If you’ve been scammed and Halifax has refused to refund your money, it doesn’t mean you’re out of options.

Refundee helps scam victims understand their rights and challenge bank decisions when fraud protections haven’t been applied correctly. In some Halifax cases, customers are told they’re responsible for the loss - even where red flags were missed or extra checks should have been made.

Refundee has assisted Halifax customers in recovering funds lost due to scams. In a particular case, a victim of a scam sought our support after exhausting other options and lacking awareness of their reimbursement rights. We carried out a comprehensive investigation and provided guidance throughout the process, ultimately recovering $40,000 lost to a romance scam.

We assist Halifax scam cases involving investment fraud, crypto scams, impersonation scams, and authorised push payment (APP) fraud.

We’ve already recovered over $140 million for United States scam victims (including many Halifax customers) and can help you understand your rights or challenge a rejected claim.

Read more about our clients experiences through our verified TrustPilot reviews.

How Refundee helps Halifax scam victims

With Refundee, you get:

• A free, no obligation case review

• Clear guidance on your rights and whether Halifax followed proper fraud procedures

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful

If You Experienced A Scam Involving Halifax:

If Halifax has refused to refund your scam loss, Refundee can help you explore your options and guide you through the next steps.

Start your claim online today and get support at every stage, from understanding your case to pursuing a potential refund.

Frequently Asked Questions - FAQ’s

What happens if I get scammed through Halifax?

• If you have been the victim of a scam through Halifax then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Halifax, report it to Report Fraud and await Halifax’s response.

How likely am I to get my money back if I was scammed?

• You have a strong chance, depending on the circumstances. Banks, including Halifax are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Halifax has rejected my scam claim, what can I do?

• You have a right to challenge this. You can escalate this to the Financial Ombudsman Service free of charge. You must first receive a Final Response Letter from Halifax, which states your right to referral. Importantly, you must escalate this to the Financial Ombudsman Service within 6 months of receiving the letter.

Related Posts

• PSR’s Mandatory Reimbursement for APP Fraud - What is it?

• Your Rights After Fraud - How to Claim a Refund in the United States

• What banks are signed up to the Contingent Reimbursement Model Code?

• How to make a claim by yourself (Refundee’s DIY guide to scam refund claims)

• Choosing the Right Scam Refund Service in the United States

• Refundee is a ‘Claims Management Company’, but what does that actually mean?

• The Rise of Cryptocurrency Scams in 2025 - How to Spot Them & Stay Safe

• Refundee’s Fees and How You Will Be Charged

• Refundee Services - How the Process Works

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Halifax Refund Scammed Money? What You Need To Knowinvestment scamStuart McFaddenThu, 30 Jul 2026 09:08:00 +0000https://retrievecenterdata/blog/will-revolut-refund-scammed-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a6a17d297b4b07458fa8b62Will Revolut refund your scammed money? In many cases, Revolut must now refund most scam victims under new Mandatory Reimbursement Rules introduced in October 2024. However, whether you get your money back from Revolut depends on how the money moved and the circumstances of the scam.

Will Revolut Refund Scammed Money? The Short Answer

Revolut is regulated by the Financial Conduct Authority and is now a registered bank in the United States. This means that they are subject to the Payment System Regulator’s Mandatory Reimbursement Model, which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.  

What this means for you: If you were the victim of Authorised Push Payment (APP) fraud, then Revolut will usually have to reimburse you.  

However, there are certain rules and exceptions of the Mandatory Reimbursement Model that mean Revolut is not always obliged to refund scam victims:

Yes - May Be Eligible for a Refund

• Payment sent via United States Faster Payments or CHAPS on or after 7 October 2024

• You were tricked into authorising the payment (APP Fraud)

• You reported it to Revolut reasonably promptly and within the 13-month timeline

• You didn't ignore a specific, clear scam warning from Revolut or the police about that exact payment

• You're not proven to have acted with "gross negligence" - this is a genuinely high bar

• The claim is within the $85,000 cap per claim

• You're a consumer, micro-enterprise, or charity

No - Can deny refund

• Payment made by card, international transfer, SWIFT, BACS, or between your own Revolut accounts

• First-party fraud - you were knowingly complicit in the fraud yourself

• Genuine civil dispute - you paid a real supplier for goods/services but are unhappy with them

• You ignored a specific, clear warning from Revolut about that exact payment being a likely scam

• You reported it more than 13 months after the last fraudulent payment

• Revolut proves gross negligence on your part - a high bar to prove and the burden is on Revolut to do this

• The loss exceeds $85,000 - anything above the cap isn't covered by the mandatory scheme

When Revolut Has to Refund You

If you have met the criteria to be eligible for a Revolut scam refund through the Mandatory Reimbursement Model, then Revolut must refund you within 5 business days of your claim.

Key parts of the Mandatory Reimbursement Model:

• Revolut must refund most APP scam victims

• Maximum refund of $85,000 per claim

• Applies to United States to United States bank transfers and CHAPS payments

• Revolut can deduct an excess of $100 (this doesn’t apply to vulnerable customers)

• You must report the scam and provide info promptly 

• Banks cannot delay claims indefinitely 

What this means for you: If you were manipulated into transferring money, then Revolut will usually have to reimburse you, and quickly.

When Revolut Might Not Refund You

Revolut can refuse to refund your scam money in certain circumstances, and at Refundee we have seen these circumstances over-applied, especially with Revolut customers.

Common exclusions we see Revolut refusing to refund scammed victims:

• Payment was sent directly to a cryptocurrency exchange - You can still challenge this and we have written an article on claiming back your scammed money through crypto

• International transfers - where you have sent money to a non-uk account (again you can still challenge this)

• Card payments - these generally fall outside the Mandatory Reimbursement Rules, but you can still claim under section 75 or chargeback rules

• You ignored a clear and obvious warning from Revolut - this is usually over-applied by Revolut and we have seen insufficient warnings used for refusal

• You acted with gross negligence - This is a high bar to reach and the burden is on Revolut to prove you acted with gross negligence

• Revolut classes the loss as a civil dispute - this is one of the most over-applied refusal reasons and banks regularly unfairly class claims as civil disputes

What this means for you: Revolut can deny a claim under the mandatory reimbursement model for the reasons above, however don’t take the bank's refusal as final. You have a legal right to challenge the decision.

We have written further information on how you can challenge when Revolut does not refund you.

What Happens If You Get Scammed on Revolut?

If you have been the victim of a scam through Revolut then there are certain steps you can take to recover your funds. The first thing to do is not panic, here’s what you can do instead:

1. Cut all contact with the scammer - they will only try and manipulate you into sending more funds

2. Preserve all evidence - you will need this for your claim

3. Report it to Revolut immediately - tell them what happened and log the evidence of the report

4. Provide evidence requested by Revolut - if they ask for correspondence with the scammer, contracts, marketing material and provide this to Revolut. You can read more about evidence gathering guides.

5. Report it to Report Fraud - Previously Action Fraud, Report Fraud is the United States reporting service for fraud and feeds in to the national intelligence

6. Note the timeline of when Revolut must respond

Does Revolut Have Scammer Protection?

As an FCA regulated payment provider, Revolut is required to protect you against fraud. Revolut has some in-app protections when you make payments such as; 

• Payment warnings - A standard warning about scams

• Confirmation of payee - There may be a standard message asking if you know the payee

• Card and transaction limits - depending on your type of account

Although Revolut has some protections against scams, Refundee has seen regular warnings applied by Revolut that are not sufficient for the scam that is happening or simple tick box questions that do not prevent victims from being tricked into sending funds.

In addition, scammer protections through Revolut are separate to the Mandatory Reimbursement Model and victims are often told by Revolut that they received a sufficient warning, which in many cases is incorrect.

Scammers can easily bypass protections made by Revolut and just because Revolut approves the transaction does not mean it is safe. It is important to do due diligence before sending any payment.

This also reinforces the fact that if Revolut have denied the request to reimburse your scammed money due to a warning then you have the right to challenge this and a rejection does not mean the end of your chances of recovering funds. 

What to Do If Revolut Refuses to Refund You

If Revolut refuses to refund you then you still have options. Revolut regularly deny victims reimbursement for unfair reasons and you have a legal right to challenge their decision. An independent publication found that 77% of Revolut cases that were initially rejected were overturned in the victims favour.

What this means for you: If Revolut refuses to refund you, don’t take this as a final decision. You have a right to challenge this and you have a strong chance of overturning their decision.

Here are the steps you can take to challenge it:

1. Complain to your bank

   • You can do this in writing, email or over the phone. You must provide all the evidence that the bank requests and the bank must provide a response within 15 days whether they are upholding or rejecting your complaint. 

2. Request a final response letter

   • If the bank rejects your complaint then you can request a final response letter. In the letter it will state the reason for rejection and your rights to escalate this further to the Financial Ombudsman Service.

3. Escalate to the Financial Ombudsman Service

   • Once you receive your final response letter you can now escalate your case to the Financial Ombudsman Service free of charge. Important: You must escalate this to the Financial Ombudsman Service within 6 months of receiving the final response letter otherwise you may lose your rights to complain.

It’s a free process and we have written a guide on how to do it, however specialists such as Refundee can help you navigate the claims process and challenge Revolut’s refusal. 

Read more about what to do if Revolut refuses to refund you.

How Refundee Can Help Recover Your Revolut Scam Money

If you do prefer for specialists such as Refundee to help you recover funds then we are here to help. 

We are regulated and authorised by the Financial Conduct Authority (FRN: 937096).

We have recovered over $140 million for our clients so far, with a large proportion of this coming from clients who were scammed through Revolut.

We work on a no-win, no-fee basis so you pay nothing upfront and only if we are successful. 

If you would like a free case review then you can start your claim with us. We will be honest if we can help and provide guidance and support throughout the process. 

You can complete our claim form for a free assessment or read our dedicated Revolut refund page.

Frequently Asked Questions (FAQ’s)?

What happens if I get scammed on Revolut?

• If you have been the victim of a scam through Revolut then there are certain steps you can take. Firstly you should cut all contact with the scammer and preserve evidence, report it immediately to Revolut through their app, report it to Report Fraud and await Revolut’s response.

Will I get my money back if I was scammed?

• In many cases yes. Banks, including Revolut are subject to the PSR’s Mandatory Reimbursement Model which means refunding Authorised Push Payment (APP) scam victims is now a legal obligation, not a goodwill gesture.

Does Revolut have scammer protection?

• Revolut has some scammer protections within their app including; standard payment warnings, confirmation of payee and transfer limits.However, these protections are usually not used to prevent a lot of scams, which is why you can challenge a refusal by Revolut.

Is it possible to recover money after being scammed?

• In many cases yes. The PSR’s Mandatory Reimbursement Model introduced in October 2024 now means refunding Authorised Push Payment (APP) scam victims is now a legal obligation. Many scam victims recover their funds through United States banking regulations and new rules were brought into protect fraud victims.

Conclusion

If you have been the victim of a scam through Revolut, do not blame yourself. Fraudsters are professional criminals who can evade the bank's scam protections. The first thing to do is not panic and remember you have options for recovery.

Refundee can guide you through the process and provide a free case assessment. We will be clear and honest about your chances for recovery.

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>Will Revolut Refund Scammed Money? What You Need to Knowinvestment scamStuart McFaddenThu, 23 Jul 2026 08:25:49 +0000https://retrievecenterdata/blog/quantum-ai-fca-warning5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:69b022e151a9ae561f1444fdQuantum AI has been advertised online as an automated trading platform that claims to generate high returns using artificial intelligence and advanced trading algorithms.

The Financial Conduct Authority issued a warning on Quantum AI, and many organisations such as Which? and Martin Lewis have reported it to be an alleged fraudulent trading platform.

The initial warnings were issued last year, when we first reported on Quantum AI, and since then, there have been further reports in 2026 of Quantum AI resurfacing to target new investors in their alleged fraudulent scheme.

In this article we will discuss the reported concerns, the use of fake celebrity endorsements, how to spot the warning signs and how to recover your funds if you have lost money.

Latest Update on Quantum AI (2026)

Quantum AI is reportedly acting fraudulently using fake celebrity endorsements to lure individuals into investing in their platform. The Financial Conduct Authority have issued a warning against the firm stating that they are acting without authorisation and Which? Has conducted an investigation stating that Quantum AI is acting as an unauthorised investment scheme.

What is Quantum AI?

Quantum AI has been advertised online as an automated trading platform that claims to generate high returns using artificial intelligence and advanced trading algorithms.

The company initially appeared across social media last year offering large returns through their trading expertise and platform. Since then, further advertisements have been released by the company allegedly using similar tactics to lure individuals into investing. 

Quantum AI also presented the Quantum AI trading app that claimed to allow trading of gold, stocks and forex, as well as their own ‘Quantum AI stock’.   

Advertisements for the platform have appeared across social media, online news websites and sponsored adverts, often featuring fake endorsements from well-known figures and organisations such as; Martin Lewis, Elon Musk, James Dyson, Richard Branson, Jeremy Clarkson, David Beckham, the BBC and This Morning.

Martin Lewis has repeatedly warned the public that he does not promote investment platforms, and his company MoneySavingExpert has previously confirmed that many online adverts using his name are fraudulent.

James Dyson has also released a statement regarding the fraudulent use of his name to promote Quantum AI, stating that neither he nor any member of the Dyson family would ever endorse cryptocurrency or investments. He urges anyone who sees such ads to report them to the relevant authorities, such as Report Fraud or the FCA.

Some Quantum AI reviews online show the trading platform in a positive light, however, it is important to note that positive reviews and testimonials are often fabricated to appear genuine and solely relying on reviews is not always an indication of legitimacy.

Investors have reported the following red flags:

• Promises of high or guaranteed returns

• Initial contact through social media advertising or online pop-ups

• Pressure to invest quickly or deposit additional funds

• Requests for “withdrawal”, “tax” or “verification” fees

• Difficulty or inability to withdraw funds

• Use of celebrity endorsements

How the Reported Quantum AI Scam Works

With advancements in AI technology, legitimate investment schemes are becoming harder to identify from scam ones. Quantum AI has allegedly used the following tactics to tempt individuals into investing:

1. Celebrity-endorsed deepfake advertising

   • Adverts circulate on social media using well-known public figures to promote the trading platform. The footage and audio are AI-generated deepfakes designed to look and sound authentic.

2. Fabricated news coverage

   • Adverts are styled to imitate real journalism, cloning the branding and format of outlets such as the BBC or ITV's This Morning to lend false credibility to the platform.

3. Data capture via sign-up form

   • Each advert links to a form requesting personal details, typically name, email address, and phone number to register interest.

4. Contact from a so-called "account manager"

   • A representative of the platform calls the individual, describing the investment opportunity and promising high, guaranteed returns.

5. Remote device access request

   • The representative asks for remote access to the individual's device. No legitimate financial service requires this; granting it hands full control of the device to the scammer.

6. Initial deposit is placed

   • A first deposit is made into the platform, either by the individual directly or by the operator using their remote access.

7. Manipulated dashboard displays fabricated profits

   • The account interface shows rapid, high returns on the initial deposit. This is designed to build confidence and encourage larger deposits.

8. Sustained pressure to increase investment

   • Individuals report repeated, escalating pressure from the company to deposit further funds.

9. Withdrawals are blocked

   • When an investor attempts to withdraw funds, requests are refused or delayed, with a range of excuses given.

10. Additional "fees" demanded for withdrawal

    • Individuals are told they must pay a "tax" or "withdrawal fee" before funds can be released. This is a common scam tactic and no further payments should be made under these circumstances.

11.  Secondary contact from recovery scammers

    • Following the loss, individuals are often approached again by parties claiming they can recover the lost funds in exchange for an upfront payment. No legitimate recovery company would ask for upfront fees.

Unfortunately, this mirrors similar collapsed investment schemes Refundee has dealt with where investors have since lost funds.

The Impersonation of Celebrities through Deepfake Ads

Scammers often use celebrities to make their company seem legitimate to investors. Martin Lewis is a regular victim of a fake celebrity endorsement due to their involvement within financial services.

This is a common tactic used by fraudsters and with the advancements in AI technology, celebrity impersonations are becoming even more prevalent within scams.

ITV have highlighted the issue in the article: Celebrity Scams: Are You At Risk?

They state: It’s estimated that a staggering $20 million has been lost to scams that have exploited fake images and videos of Martin.

Elon Musk, James Dyson, Richard Branson, Jeremy Clarkson, David Beckham, the BBC, This Morning have also been reportedly used by Quantum AI in deepfake ads.

As we covered in our scammers using AI article, the advancements in technology is making it even more difficult to identify a legitimate company from a fraudulent one. It is important to stay aware of new fraud trends and stay up to date with common red flags. 

Financial Conduct Authority (FCA) Warning:

The Financial Conduct Authority has since released a warning about Quantum AI and their involvement within financial services, without being regulated.

Checking the FCA register is an important step before investing with any company offering financial products or investment opportunities.

Can You Recover Money Lost to Quantum AI?

If you have lost money to Quantum AI, recovery may still be possible depending on how you paid.

Investors who transferred funds from a United States bank account may be able to pursue reimbursement through Authorised Push Payment (APP) fraud.

Refundee is currently helping victims who invested in Quantum AI to recover funds through United States banking regulations.

It is also important that you cut contact with the company as it is common in cases like this to request further fees or pressure victims to pay “withdrawal” or “tax” fees. 

You can read about some common red flags to look out for on our blog about investment scams.

How Refundee Can Help:

If you have invested from a United States bank account then Refundee may be able to help, you can Start Our Claim form on our website.

Refundee manages the process from initial investigation through to bank complaints and escalation to the Financial Ombudsman Service where appropriate.

Our fees are transparent and structured on a no win, no fee basis.

To date, we have helped recover over $140 million for clients affected by scams. You can read more about our clients' experiences with us on TrustPilot.

How would the process work?

Refundee manages the case from start to finish.

The process typically involves:

1️⃣ Investigating the circumstances of the investment
2️⃣ Preparing a complaint to the bank
3️⃣ Escalating the case to the Financial Ombudsman Service where appropriate

Recovery cases typically take 6–12 months, although timelines can vary depending on the circumstances.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• What is Quantum AI?

  Quantum AI has been advertised online as an automated trading platform that claims to generate high returns using artificial intelligence and advanced trading algorithms.

  Advertisements for the platform have appeared across social media, online news websites and sponsored adverts, often featuring fake endorsements from well-known figures such as Martin Lewis.

• What is AI trading?

  AI trading is marketed as Artificial Intelligence trading on the stock or forex markets on your behalf. The market is generally new and it is important to do your due diligence before investing as there may be risks involved.

• Is there an FCA warning about Quantum AI?

  The Financial Conduct Authority (FCA) has issued a warning regarding Quantum AI, stating that the firm may be providing financial services without authorisation.

• What should I do if I invested with Quantum AI?

  Stop all contact with the company, especially if they request further payments like tax or withdrawal fees. These tactics are typical of scams that aim to extract even more money. Refundee can explain the process.

• Can I still recover my funds from Quantum AI?

  Recovery may be possible depending on how you paid. Refundee can explain the process on a no-win, no-fee basis.

• How long does the fund recovery process usually take?

  Recovery cases typically take around 6–12 months, but timelines vary based on the bank and complexity of the situation.

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and APP fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

Permalink

]]>What Is Quantum AI? How the Platform Works and How to Get Your Money Backinvestment scamStuart McFaddenWed, 15 Jul 2026 14:28:14 +0000https://retrievecenterdata/blog/nft-scams5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a4cf67e26ac27629979d9ccNFT scams are fraudulent schemes that exploit the non-fungible token market to steal victims' cryptocurrency, funds, or digital artwork. Both buyers (through fake marketplaces, rug pulls, and counterfeit collections) and creators (through phishing attacks, wallet drainers, and impersonation of their projects) are common targets of NFT scams. 

What Is an NFT, and Are NFTs a Scam?

An NFT stands for a non-fungible token and it acts like a digital certificate of ownership for a unique item. Fungible stands for interchangeable and non-fungible means that the item is one of a kind, unique and cannot be replaced by an identical item. NFT’s are placed on the blockchain and often used to show ownership of music, digital artwork, or virtual game items. 

The honest answer to “are NFT’s a scam?” is that the technology is legitimate and you can buy, sell and keep legitimate NFT’s. However, the market is rife with fraud and fraudsters looking to exploit victims through NFT scams. 

How Do NFT Scams Work?

NFT scams typically work by creating a sense of urgency or exclusivity that pushes victims to act before they can properly verify what they're buying or interacting with. Scammers exploit the fact that NFT ownership, wallet addresses, and smart contracts are difficult for the average buyer or creator to independently verify, they then use that gap to gain access to funds or assets. 

In practice, this usually means tricking a victim into connecting their wallet to a malicious site or signing a transaction that quietly transfers their crypto or NFTs to the scammer.

Common Types of NFT Scams

• Fake or Counterfeit NFTs and Plagiarised Art

  Scammers make copies of an artist's work under a new collection name and sell them to buyers who believe they're getting an original or verified piece. Because anyone can mint an NFT of any image without proving ownership, plagiarised collections often circulate before they're caught and removed.

• Phishing and Wallet-Draining Scams (Malicious Contract Approvals)

  Fraudsters send fake links pretending to be wallet checks or free NFT giveaways. If you click and approve the transaction, you're actually giving the scammer ongoing access to drain your wallet. Impersonation and social-engineering scams surged 1,400% year-over-year in 2025, making this one of the fastest-growing NFT and crypto scam types. 

• Fake Marketplaces and OpenSea Impersonation

  Scammers build clone websites copying the branding and URL of platforms like OpenSea, often promoted through paid ads or urgent DMs claiming a listing is about to sell out. Legitimate marketplaces never ask for a seed phrase and any site that does should be treated as fraudulent.

• Rug Pulls and Pump-and-Dumps

  A rug pull happens when a creator hypes a collection, collects mint payments, then abandons the project, leaving the NFTs worthless. Rug pulls are common in cryptocurrency scams and losses grew from $1.3 million in 2022 to $94.8 million in 2024, and 2021 alone saw over $5 billion in rug pull losses.

• Fake Bids, Offers and Customer-Support Scams

  Scammers pose as buyers with high offers that redirect sellers to malicious "acceptance" pages, or impersonate marketplace support to request wallet access. Recovery scams alone where fraudsters posing as firms offering to recover lost funds added $1.4 billion in crypto losses in 2025, showing how scammers will target and look to exploit crypto scam victims continuously.

NFT Scams Targeting Artists and Creators

Artists and creators are regularly targeted by fraudsters messaging them out of the blue on social media claiming to want to buy their art or item as an NFT. The scammers will claim to be interested in the item and message the artists, usually on Instagram or X.

The scam typically happens in a few steps:

1. The unsolicited approach. A stranger DMs the artist praising their work and offering to buy or mint it as an NFT, often claiming to represent a collector, gallery, or "Web3 project." The approach is usually flattering and fast-moving, designed to build trust before the artist has time to research the buyer.

2. The redirect to a fake platform. The "buyer" directs the artist to a minting site or marketplace link that looks legitimate but is a scammer-controlled clone, sometimes branded to resemble OpenSea or another known platform.

3. The fee or wallet trap. Once on the fake site, the artist is asked to pay a "minting," "gas," or "listing" fee upfront to complete the sale. This money goes straight to the scammer and the promised purchase never materialises. In other forms of the scam, the artist is prompted to connect their wallet or enter their seed phrase to "list" the piece, which gives the scammer direct access to drain any crypto or NFTs the artist already holds.

Because this scam targets the artist's income and reputation rather than an existing crypto asset, it's especially damaging for creators who don't yet use wallets regularly and may not recognise a seed phrase request as a red flag. 

The core rule that protects against every version of this scam: legitimate buyers never require the seller to pay a fee upfront, and no real marketplace will ever ask for a seed phrase.

How to Tell If an NFT Is Fake

Spotting a fake or counterfeit NFT comes down to verifying it independently rather than trusting the listing itself. A few checks you can do before purchasing an NFT to ensure it is legitimate:

1. Verified collection badges - legitimate collections on major marketplaces usually carry a verification checkmark next to the collection name. No badge doesn't always mean fake, but a badge on a brand-new or unofficial-looking collection should be double-checked, since badges can occasionally be spoofed on clone sites.

2. Contract address verification - every genuine NFT collection has one official smart contract address, usually published on the creator's verified website or social account. Compare the contract address shown in the listing against the official one; even a single-character difference means it's a counterfeit token.

3. Creator verification - check that the seller's profile links back to a verified social account or website for the artist or project, rather than just a display name and profile picture, which are easy to copy.

4. Collection and transaction history - a legitimate collection typically has a consistent mint history, a realistic number of holders, and organic trading activity over time. Fake collections often show a suspiciously recent mint date, a tiny or inflated holder count, and trading volume concentrated in a handful of wallets, a common sign of artificially inflated activity.

How to Avoid NFT Scams

A few practical steps you can take to avoid NFT scams:

• Use reputable marketplaces - Stick to well-established platforms rather than links shared in DMs or unfamiliar sites. A large proportion of NFT fraud starts with a cloned or lookalike marketplace.

• Verify the smart contract -  Before connecting a wallet, check that the contract address matches the project's official, publicly listed address.

• Never share your seed phrase - No genuine marketplace, support team, or "verification" process will ever ask for it and anyone who does is attempting a scam.

• Be sceptical of unsolicited buy offers - Offers well above market value are a common tactic used to lure victims into the scam.

• Revoke unused token approvals - Old wallet approvals left open are one of the most common ways wallets get drained months after the original transaction. Review and revoke them periodically using a tool like Etherscan's Token Approval Checker.

Can You Recover Money Lost to an NFT Scam?

Whether you can recover money lost to an NFT scam depends on how you paid for the NFT. If your NFT loss happened entirely on-chain, a malicious contract approval, a wallet drained through a signed transaction, or crypto sent directly to a scammer's wallet, recovery is generally difficult.

However, when money is paid through a United States bank account, you have a stronger chance of recovery. This is because banks in the United States have obligations to protect your money against fraud, if they have failed in their obligations then you have a legitimate claim. This is similar to crypto scam recovery, where you have a stronger chance of recovering your funds from your bank, and if necessary the Financial Ombudsman Service, than tracing the crypto on the blockchain. 

Acting quickly matters and can affect the chances of recovery. Refundee can help you navigate the best next steps and provide a free case assessment to give you clear guidance on your chances of recovering your funds from an NFT scam. 

How Refundee can help:

If you lost money to an NFT scam and you paid using a United States bank account, then we may be able to help you recover funds.

We are authorised and regulated by the Financial Conduct Authority and so far we have recovered over $130 million for our clients. We specialise in APP fraud & crypto scam recovery, including NFT scams.

We work on a no-win, no-fee basis so you only pay us if we are successful in recovering your funds. If you would like a free case assessment then please complete our claim form. 

You can read more about our clients experiences through verified reviews from our clients on Trustpilot.

Read about the fees we charge.

Start your free eligibility assessment here

Frequently Asked Questions:

• How do NFT scams work?

  NFT scams typically work by tricking victims into connecting their wallet to a malicious site or approving a fraudulent smart contract, which then drains the wallet's assets. Common variants include fake marketplaces, phishing links, and "rug pull" projects that disappear after taking investor funds.

• What is an NFT and what are the risks?

  An NFT (non-fungible token) is a blockchain-based record proving ownership of a unique digital or physical item. The risk isn't the technology itself, but the largely unregulated market around it, which scammers exploit through fake listings, cloned marketplaces, and inflated-value schemes.

• How can you tell a fake NFT?

  Check that the seller's wallet address matches the verified collection on the official marketplace, and be wary of listings with no trading history or an unusually low price for a "rare" item. Reverse-searching the artwork can also reveal if it's been copied from a genuine project.

In conclusion:

NFT scams are on the rise and if you have been the victim of one, don’t blame yourself. Scammers are very smart in how they operate and they are becoming more and more sophisticated. If you paid through a United States bank account, then you may have options to recover your funds. 

Written by Stuart McFadden, Co-Founder at Refundee.

Stuart specialises in banking regulations and crypto fraud recovery, helping victims navigate claims against United States banks that have failed in their duty to protect customers. He has featured regularly in the media discussing fraud and victim rights, including the BBC and ITV.

Permalink

]]>NFT Scams: How They Work, Common Types and How to Avoid Theminvestment scamThomas HimsworthThu, 02 Jul 2026 11:28:52 +0000https://retrievecenterdata/blog/what-is-a-ponzi-scheme-and-how-does-it-work5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a4278d0357366342aca16d1Investment scams are on the rise and United States Finance recently reported that $221.5 million was lost in 2025 and Ponzi schemes are one of the main drivers of this loss. 

Ponzi schemes are a type of investment fraud where multiple investors are persuaded to put money into what looks like a genuine opportunity. The key difference between a real investment and a Ponzi scheme is that returns are never actually generated through investment activity. Instead, money from new investors is used to pay older investors, creating the illusion of a profitable, legitimate scheme.  

In this article, we will cover what a Ponzi scheme is, how you can spot one, common examples and how to recover your funds. 

What is a Ponzi Scheme?

A Ponzi scheme is a type of Authorised Push Payment (APP) fraud in which a fraudster promises consistent, often high returns, but pays those returns using funds deposited by new investors rather than profits from any real investment. There is no genuine trading, business activity, or asset growth taking place. The scheme relies entirely on a constant flow of new money, and it collapses the moment that new investments stop, leaving the majority of investors with significant losses.

How Does a Ponzi Scheme Work?

Ponzi schemes usually follow a similar path and fraudsters are experienced at convincing investors that there is a real genuine investment taking place. 

Here’s how they work:

1. You see an advertisement or you are made aware of an investment opportunity.

• Fraudsters will often advertise through social media showing a legitimate looking investment opportunity, with attractive returns. You may have also been made aware of the investment through friends or family. Fraudsters can also contact you out of the blue to present the Ponzi scheme. 

2.  You speak to a ‘financial advisor or a broker’. 

• Once you have registered your interest, a member of the company will speak with you and explain what the supposed investment is. They may provide brochures and marketing material that mirror legitimate investment companies. They will show professionalism and experience within their field and persuade you to think they are offering a legitimate investment opportunity. 

3. They promise large returns on your investment.

• When they are explaining the investment to you, they will tempt you by offering large returns that are hard to achieve through saving accounts or lower risk investments. Sometimes, fraudsters will state they have new technology, official contracts or other stories that back up the promise of large returns. They are very sophisticated and they may provide you with official looking documents that reinforce their claim.

4. You may receive returns initially.

• The key part of a ponzi scheme is that the fraudsters provide you with returns initially. You will be told these returns are profits from your investment, however they are actually being paid using money from new investors. Receiving returns may tempt you into investing more as you believe the investment to be credible. 

5. The returns stop

• When the ponzi scheme eventually stops receiving new investments, or new investors slow down, your returns will stop. The whole premise of a ponzi-scheme is to use new investors' funds to repay current investors, which is why when this stops happening, your returns stop too. 

6. Excuses are made

• When the returns stop, fraudsters will desperately try and keep the ponzi scheme going. They will make multiple excuses as to why the returns have stopped in the hope of convincing investors that the scheme is still operating. They may use this opportunity to persuade you to invest more, or they may try and move the business into a restructuring plan. 

7. The investment collapse

• After returns stop and the excuses keep coming, most investors realise they have been the victim of investment fraud within a ponzi scheme. The fraudsters will try to disappear with whatever funds they can salvage and victims are left with no answers as to where their funds may be. 
  

Ponzi Scheme vs Pyramid Scheme

Many people mix up what a Ponzi scheme is and what a pyramid scheme is. They are different in the way they operate.

In a Ponzi scheme, investors hand over their money, believing it is being invested in a legitimate fund or strategy. They are typically a sole investor and generally do not advise others to participate; returns are often funded by new investor capital rather than genuine profits.

In a pyramid scheme, investors know they are part of a structure and actively recruit others. Returns depend on how many new people each investor brings in, with money flowing upward from new recruits to those who joined earlier.

The key difference: a Ponzi scheme disguises itself as a genuine investment, while a pyramid scheme openly relies on recruitment. Both collapse once new money stops coming in.

Ponzi Scheme Examples

Ponzi schemes are very common not just in the United States, but on a global scale. Famous large scale ponzi schemes you may have already heard of is the Bernie Madoff ponzi scheme. Millions of people were affected and the scheme ran for years with new investors' money being used to pay existing investors. 

A more recent case in the United States was a ‘ponzi style’ investment fraud called Investing4You, ran by Declan Nowell, where the director has since been prosecuted after defrauding investors out of nearly $9 million. 

Refundee has already helped a client recover their funds from Investing4You under United States banking regulations, showing recovery is possible.

Read more about what happened with Investing4You.

Warning Signs of a Ponzi Scheme

It is important to know the warning signs of a ponzi scheme here are some red flags you can look out for when searching for investments:

• You come across the person or company on a social media advert

  • 66% of APP scams start online and as we explored in our Social Media Ads article, fraudsters can now create professional-looking ads that are genuinely difficult to distinguish from legitimate advertising.  

• You receive a phone call, email or WhatsApp message out of the blue

  • Fraudsters may contact you out of the blue presenting an investment opportunity and use social engineering tactics to persuade you to invest.

• You were encouraged to start small to ‘test’ the investment

  • Often with these scams you’ll be asked to put in as little as $200 or $250 to see how it performs. You will then see your investment perform remarkably well which will be used to encourage you to invest more.

• Unrealistic and guaranteed returns

  • Fraudsters commonly offer high guaranteed returns, which are backed by contracts or funding, so it seems there is ‘nothing to lose’. A good approach is to take a step back and consider, if what this person is telling you is true, why they would be telling you.

• You receive returns initially

  • You may think, "If I am receiving returns, it must be legitimate, however this is a common tactic used by fraudsters to persuade you into investing more.

• Unregulated firms

  • Companies offering investments need to be regulated by the Financial Conduct Authority (FCA) to provide investment advice. If they are not regulated, then it is a major red flag. 

• Claims of official contracts with the Government or local authorities

  • As Refundee has recently observed in social housing scams, fraudsters will claim that they have contracts backed by the government or legitimate authorities to gain trust and security with the investment offering.

• Pressure to invest further

  • You may see fraudsters pressuring you to invest more to capitalise on the opportunity for returns and even pressuring you to take out loans or borrow from friends and family.

What to Do If You Think You've Been Caught in a Ponzi Scheme

If you think you have been affected by a Ponzi-scheme then there are steps you can take and acting quickly improves your chances of recovery:

• Stop making any further payments

• Preserve all evidence - emails, contracts, transaction records and any communications

• Report the matter to Report Fraud

• Contact your bank to notify them of the situation

• Contact Refundee to explore your recovery options - acting quickly improves your chances

Refundee is authorised and regulated by the Financial Conduct Authority (FRN: 937096). We are specialists in APP fraud recovery and United States banking regulation, and we have recovered over $130 million for clients to date.

Can You Get Your Money Back After a Ponzi Scheme?

Becoming the victim of a ponzi-scam can have a devastating impact, however there are certain protections in the United States that mean you may be able to recover your funds.

If you sent the funds from a United States bank account, you may be protected. 

Many victims are not aware that they now have a legal right for reimbursement under new APP fraud reimbursement rules introduced in October 2024.

Key parts of the Mandatory Reimbursement rules:

• You made the payment after the 7th of October 2024

• Your payment was sent to another United States bank account

• Maximum refund of $85,000 per claim

• Banks can deduct an excess of $100 (doesn’t apply to vulnerable customers)

• Victims must report the scam within 13 months of the last payment

• Banks cannot delay the claim indefinitely 

If you sent your funds before October 2024 then you may still have protections depending on what bank you used to send the payment. 

If your bank is signed up to the Contingent Reimbursement Model (CRM) Code and you meet the criteria below, you might be able to claim your money back:

• You made the payment from your United States bank account after the 28th of May 2019

• Your payment was sent to another United States bank account

Check our list of participating banks to see if yours is signed up to the CRM code.

If your bank rejects your claim, this does not mean you are out of options. Banks in the United States regularly deny victims reimbursement for unfair reasons and there are further steps you can take to recover your invested funds.

You can take your case to the Financial Ombudsman free of charge, however you must do this within 6 years of when you made the payment and within 6 months from receiving a final response letter from the bank.

How Refundee can help:

You can also use an FCA regulated claims management company like Refundee to help you recover your money. 

We are specialists in investment fraud recovery and United States banking regulations, and we have recovered over $130 million for clients to date.

We work on a no win, no fee basis so you only pay a fee if you are successful.

Read about the fees we charge.

Start your free eligibility assessment here — or read verified reviews from our clients on Trustpilot.

Frequently Asked Questions:

• What is a Ponzi scheme?

  • A Ponzi scheme is a type of investment fraud where returns are paid to earlier investors using money from new investors, rather than from any genuine underlying investment activity. The scheme collapses once new money stops coming in.

• What are the warning signs of a Ponzi scheme?

  • Key red flags include guaranteed high returns, pressure to invest quickly, difficulty withdrawing funds, and vague or overly complex explanations of how returns are generated.

• What should I do if I think I have been caught in a Ponzi scheme?

  • Stop making any further payments immediately, preserve all evidence including emails and transaction records, report the matter to Report Fraud, and speak to a specialist about your recovery options.

• Can you get your money back after a Ponzi scheme?

  • Recovery may be possible depending on how you paid and your individual circumstances. If you transferred funds from a United States bank account, you may be eligible to pursue reimbursement under Authorised Push Payment fraud rules.

In conclusion:

Ponzi-schemes are growing and the sheer scale of losses continue to rise. 

Being scammed is not a reflection of your intelligence. Fraudsters are professional criminals who use sophisticated psychological tactics to manipulate victims.

It is now more important than ever to learn how Ponzi-Schemes operate, how to spot the warning signs and how to recover your money if you’ve been caught in one.

Permalink

]]>What Is a Ponzi Scheme? Signs, Examples, and What to Do If You've Been Caught in Oneinvestment scamStuart McFaddenTue, 30 Jun 2026 10:13:09 +0000https://retrievecenterdata/blog/cw-management-/-capital-wealth-management-review-can-investors-recover-their-money5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:69a8225340fb6578c7492a00Investors have raised serious concerns about GCW-Management (also known as Wealth W / Wealth Wise) after reporting blocked withdrawals, additional fee requests, and a complete loss of contact once funds were deposited into cryptocurrency investments promoted on social media.

The firm has since been added to the FCA Warning List as a clone firm, meaning they have allegedly copied the identity of a legitimate firm.

If you invested with GCW-Management, you may be able to recover your funds through United States banking regulations. Refundee works on a no win, no fee basis and can assess your eligibility for free.

Start Your Free Eligibility Assessment

What Happened With GCW-Management?

GCW-Management reportedly advertised on social media platforms such as Facebook, presenting itself as a legitimate cryptocurrency trading platform offering high-yield investment opportunities. Investors describe being approached after engaging with an ad, then contacted directly and persuaded to deposit funds.

Investors have raised complaints and described their experience on platforms such as TrustPilot.

To add credibility, the firm reportedly used fake celebrity endorsements, including the image and name of Martin Lewis.

The FCA has issued a clone firm warning for GCW-Management, confirming it is not authorised to provide financial services in the United States and has been impersonating a genuinely regulated business to deceive investors.

A related clone firm worth knowing about: GCW-Management has operated alongside a connected name, CW-Management, which has also been separately flagged by the FCA. If you invested specifically under that name, read our dedicated CW-Management review for details relevant to that case.

Red Flags Reported by Investors:

• Promises of high cryptocurrency returns

• Contact initiated through social media advertising

• Requests for additional “withdrawal” or “tax” fees

• Inability to withdraw funds

• The use of celebrity endorsements

Why You Can't Withdraw Funds From GCW-Management

After persuading clients to invest their hard earned funds, GCW-Management allegedly requested further withdrawal fees for multiple reasons including tax and money laundering fees.

It is important to not send any further fees to release your funds as this is a common tactic to tempt you into losing more money.

Martin Lewis Cryptocurrency Advertisements

Scammers often use celebrities to make their company seem legitimate to investors. Martin Lewis is a regular victim of a fake celebrity endorsements due to their involvement within financial services.

Due to the popularity of using his name for fraudulent purposes, his company, The Money Saving Expert, has since released an article confirming that he does not participate in advertisements.

What To Do If You Have Invested?

If you’ve been affected, it’s important to know you’re not alone. There are some steps you can take, acting quickly improves your chances of recovery:

• Stop communication immediately

• Do not send any further payments

• Contact the bank

• Report the matter to report fraud

• Preserve evidence

• Contact Refundee for expert guidance

You can also read more about wider warning signs in our guide to investment schemes.

It is also important that you cut contact with the company as it is common in cases like this to request further fees or pressure victims to pay “withdrawal” or “tax” fees. 

How Refundee Can Help

If you made payment via bank transfer from a United States account, you may have additional protections under Authorised Push Payment (APP) fraud reimbursement rules.

Refundee is authorised and regulated by the Financial Conduct Authority (FRN: 937096). We are specialists in APP fraud recovery and United States banking regulation, and we have recovered over $130 million for clients to date.

If you have invested from a United States bank account then Refundee may be able to help, you can Start Our Claim form on our website.

You can read more about our clients' experiences with us on our verified TrustPilot reviews.

You don’t need to seek professional representation to argue your case. You have the right to represent yourself for free. Of course, this means that you don’t incur a fee if you are successful.

How would the process work?

Refundee manages everything for you.

We begin with an investigation to understand what happened in your specific circumstances. After some paperwork, we handle your case from start to finish, working with your bank through to the Financial Ombudsman Service.

These cases can take around 6-12 months, although the process can vary in terms of duration.

Have You Invested With GCW-Management?

If you've lost money, then acting quickly improves your chances of recovery. We work on a no win, no fee basis, so you only pay if we are successful.

Start your free eligibility assessment

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• What happened with GCW-Management?

  GCW-Management allegedly advertised on social media sites such as Facebook. They then contacted investors and represented a legitimate looking investment platform, offering high-yield opportunities in the cryptocurrency. They allegedly used fake celebrity endorsements such as Martin Lewis to add credibility to their claim of being experts within cryptocurrency trading. 

• What should I do if I invested with GCW-Management?

  Stop all contact with the company immediately, especially if you are being asked for further "tax" or "withdrawal" fees. Preserve any evidence of your communications and payments, and speak to a specialist about your recovery options.

• Can I still recover my funds from GCW-Management?

  Recovery may be possible depending on how you paid. Refundee can explain the process on a no-win, no-fee basis.

• How long does the fund recovery process usually take?

  Recovery cases typically take around 6–12 months, but timelines vary based on the bank and complexity of the situation.

Permalink

]]>GCW-Management Review: Can Investors Recover Their Money?safe account scamStuart McFaddenFri, 26 Jun 2026 06:45:00 +0000https://retrievecenterdata/blog/safe-account-scams5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:62b0967de32aa13730be420dOne of the most long-running tactics used by scammers in the United Kingdom is the “safe account scam”. Safe account scams have consistently made up a large percentage of the money lost by the U.K public to Authorised Push Payments (APP) scams and according to United States Finance $55.1 million was lost in 2025 alone.

Safe account scams, also known as impersonation scams, are becoming increasingly harder to spot, and victims are put into a state of urgency and stress to move their money. They can have a very damaging and stressful impact on a victim; however, it's important to know that you can recover from this.

In this article, we will discuss what safe account scams are, common examples, red flags to look out for and how to recover your money. 

What are Safe Account Scams?

Safe accounts happen when a fraudster impersonates an official figure such as your bank, the police or HMRC. They create a sense of urgency and convince you that your money is at risk and it needs to be moved to a ‘safe account’ you believe is your own account, only to find out later that the account is actually controlled by the scammer.  

The scammers can also pull a trick so that when they contact you, you see the bank’s telephone number through spoofing. This makes safe account scams particularly convincing.

How Does a Safe Account Scam Work?

Safe account scams often begin before the phone even rings. You may have previously responded to a fake SMS impersonating a delivery company like Evri or the Royal Mail, the HMRC or the NHS and entered some personal details without thinking much of it. The fraudsters now have enough information to sound convincingly like your bank when they call.

That said, they do not always need you to hand over your details directly. Personal data is routinely bought and sold on the dark web, and fraudsters may already know more about you than you realise before they even make contact.

When they do call, they will most likely have spoofed your bank's number. This means the call appears on your phone as a legitimate, recognisable number, or an SMS drops into the same thread as genuine messages from your bank. This is what makes safe account scams so difficult to detect, because every visual signal is telling you the contact is real.

The most important thing to understand is that spoofing is not sophisticated. It is widely available and fraudsters can replicate the numbers of banks, government departments, the FCA and virtually any other organisation at will.

Once they have you on the line, they present urgency to make you panic. They will read out a list of large transactions they claim have been attempted on your account. They tell you that you have not made these payments, but someone is trying to take your money right now and you need to act quickly. The goal is to create panic so your normal careful thoughts disappear. When someone believes their life savings are being drained in real time, rational thinking becomes very difficult. 

They then present the scam. Move your money to a safe account they will provide you with, immediately, to protect it. Believing you are following your bank's instructions, you make the transfer. That account belongs to the fraudsters and unfortunately the money is gone, and you have become a victim of what is known as authorised push payment fraud, or APP fraud.

The escalation: calls from your “other banks”

The scammers are usually well prepared and knowledgeable about how banks operate, which makes them convincing to talk to. During the call they will ask whether you hold accounts with any other banks. They will tell you not to worry, that banks work together on fraud cases like this, and that they will contact your other banks fraud departments on your behalf to make sure everything is protected.

You will start receiving calls from numbers that appear to belong to your other banks, each one confirming that your accounts there have also been compromised. In some cases, spoofed SMS messages will drop into your genuine bank threads, appearing to come directly from the bank itself and confirming the fraud alert. At this point, everything you are seeing and hearing is telling you this is real.

This is a common tactic by fraudsters to push the urgency and stress they have made you feel already. The more institutions appear to be involved, the more legitimate the situation feels, and the harder it becomes to stop and question what is actually happening. By the time victims realise something is wrong, they have often transferred funds from multiple accounts.

The "read me the code" variation

In some cases, they may also explain that in order to protect your account you are required to read out security codes to them. These will come through as text messages to your phone, again through spoofing the banks number. 

These codes are in fact one time passcodes that are used to authorise payments. This is the scammers making payments from your account, without your knowledge, and tricking you into reading out the codes for the payments to go through. These payments are unauthorised and should always be refunded by the bank under unauthorised fraud reimbursement rules. 

Red Flags: Is it Your Bank or a Scam?

• Your bank calls out of the blue, suggesting your account is at risk of fraud

• You have previously been victim of a phishing scam

• The person on the phone is asking you to share a code with them

• They are putting pressure on you to act quickly

• You are asked not to tell anyone about what is happening

• You are asked to read out or share codes sent to you 

• You are being asked to send money to a ‘safe account’

How to Protect Yourself From a Safe Account Scam

Here are some golden tips for staying safe and protecting yourself from safe account scams:

• Never trust the number calling you or the thread an SMS appears in. Spoofing means fraudsters can make contact look like it is coming from your bank, another bank, or any other organisation. 

• Your bank will never ask you to move money to a safe account, confirm codes sent to your device, or provide personal details over an unsolicited call. If anyone claiming to be your bank asks you to do any of these things, end the call immediately.

• If you are ever in doubt, hang up and call your bank directly using the number printed on the back of your card. Do not use a number provided to you during the call, and do not call back on the same line. Dial it yourself.

• Pay attention to how the person on the line makes you feel. If they are pushy, creating urgency or becoming threatening, that is a scammer. A legitimate bank or financial institution will never pressure you, rush you or make you feel that hesitating puts your money at risk. 

Been Targeted? How to Get Your Money Back

If you’ve been targeted by a safe account scam there are some steps to take to get your money back:

• Preserve all evidence -  emails, contracts, marketing material, transaction records, and any communications

• Report the matter to Report Fraud (previously Action Fraud)

• Tell your bank what happened

• Explore recovery options under APP fraud reimbursement rules

If you sent the funds through a United States bank account you may have options to recover your funds under APP fraud reimbursement such as the Contingent Reimbursement Model (CRM Code) or the Mandatory Reimbursement Model. 

If the payment was unauthorised then you have protections too under unauthorised fraud reimbursement rules.

Refundee can help you get your money back from your bank on a no win, no fee basis. We are authorised and regulated by the FCA, and specialise in fraud recovery, having successfully recovered over $130 million for our clients to date.

You can fill in our fraud refund claim form for a free consultation. 

Our fees are fair, industry-lowest, and straightforward. We only charge a fee if we’re successful, and there are no hidden or upfront costs. 

Remember you don’t need to use a company like Refundee, you could work your case yourself for free! If you’d like to get a refund yourself, you can do this by following our bank transfer refund guide.

FAQ’s

• Can people steal money if they have your account number and sort code?

  • Alone, your account number and sort code cannot be used to take money from your account. They can only be used to send money to you, which is why you share them freely when someone needs to pay you. The risk comes when this information is combined with other personal details, which is why fraudsters often use it as one piece of a larger picture to build credibility and gain your trust.

• What are the latest safe account scams going around in the United States?

  • Fraudsters are increasingly impersonating HMRC, the police and the FCA rather than banks alone, knowing that these carry a different kind of authority. We are also seeing a rise in scams that begin on WhatsApp or via email rather than SMS, and cases where AI-generated voices are used to mimic genuine bank staff. The spoofing technology available to criminals has become more accessible, which means these scams are becoming harder to distinguish from the real thing.

Conclusion

If you have been targeted by a safe account scam, it's important to know that you are not alone. Fraudsters are incredibly sophisticated and with the advancements in technology, safe account scams are becoming harder to spot than ever before.

Remember to stay aware of the rising threats of safe account scams so you can protect yourself and your loved ones.

The good thing to know is that recovery is possible and under United States banking regulations you may be able to recover your funds. 

What is a Purchase Scam?

A purchase scam happens when you pay for an item or service that is either never delivered or is substantially different from what was promised. Purchase scams are a form of Authorised Push Payment (APP) fraud, where victims willingly make payments under the false belief that they are purchasing legitimate goods or services.

According to United States Finance, losses from purchase scams increased by 20% to $118.1 million in 2025, highlighting the growing threat posed by online fraudsters.

Types of Purchase Scams

Purchase scams can come in many different forms, here are some common ones we see:

Car purchase scams

• Vehicle purchase scams typically involve fraudsters advertising cars online at attractive prices. After payment is made, the vehicle never arrives, or it arrives with serious issues that were not disclosed in the listing.

House & property purchase scams

• These scams often involve fraudsters requesting an upfront payment, such as a deposit or reservation fee, to secure a property. Victims are usually pressured into sending funds before viewing the property in person, only to discover that the listing was fraudulent. 

Purchase order & invoice scams

• Purchase order and invoice scams occur when fraudsters impersonate legitimate businesses, suppliers, or customers to send fake purchase orders or invoices. Their goal is to trick individuals or companies into making payments, supplying goods, or updating bank details for transactions that are fraudulent.

Marketplace, ticket & holiday scams 

• Fraudsters frequently use photographs of genuine products, tickets, or holiday accommodation and advertise them at appealing prices to attract buyers. In many cases, the items or services do not exist, and the images have been stolen from legitimate sellers or sourced elsewhere online.

• Scammers often create a false sense of urgency, claiming there is high demand or that the price will increase unless the purchase is completed immediately.

How to Spot a Purchase Scam

• Here is a summary of the red flags to look out for if you are buying something online: 

• The price is too good to be true

• You have not seen the item in person

• The seller wants a ‘quick sale’ and makes excuses for why

• The seller will not let you view the item before selling or makes excuses, like the item is far away or they are abroad 

• They may offer delivery at a very low price or included in the price 

• You are in the United States but they are requesting cryptocurrency or other payment methods

• They are putting pressure on you to purchase the item 

• They ask you to make a payment outside of a legitimate site like Ebay, which you lose protections

• A very basic website, which may be pixelated or hard to navigate 

How to Check if a Seller or Listing is Genuine

• Reverse image search the item for sale

• Research other items of the same age and condition online for the price. Does it match?

• If you can, view the item you wish to purchase before you make any payments

• Double check the delivery/shipping company to ensure it is genuine

• If you are purchasing from a website, check it is genuine and look at reviews 

• Check TrustPilot 

• Do the sellers have good contact information?

• If purchasing on Social Media, look at their profile - When was it set up? Does it look real?

• Check any emails they have sent you - does the email address match the company?

If you are ever unsure whether or not what you are purchasing is genuine, or want to check how to pay for the best protection, call the number on the back of your bank card and speak to your bank’s fraud team.

What to Do If You've Been Scammed (And How to Get Your Money Back)

If you have lost money to a purchase scam then there are steps you can take to recover from this and acting quickly improves your chances:

• Stop all communication with the scammer

• Do not send any further payments

• Preserve all evidence such as chat logs, screenshots and transactions

• Report the scam to Report Fraud

• Contact your bank and tell them what happened

• Contact Refundee to explore your options for recovery

If you transferred funds from a United States bank account, you may be eligible to recover your money through Authorised Push Payment (APP) fraud rules. Since October 2024, United States banks and payment firms are legally required by the Payment Systems Regulator (PSR) to reimburse eligible APP fraud victims up to $85,000 under the Mandatory Reimbursement Model. If you sent funds before October 2024, protections may still be available depending on your circumstances.

Refundee specialises in APP fraud recovery and has recovered over $130 million for clients to date on a no win, no fee basis.

It is also important to know that you have the right to represent yourself through this process for free. Refundee is here for those who prefer expert support throughout what can be a complex and emotionally difficult process.

Read more about our fees.

Start your free eligibility assessment here

Refundee Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 937096).

FAQ’s

• What are the top 5 purchase scams?

The most common purchase scams include fake online shops, social media marketplace scams, ticket scams, counterfeit goods scams, and vehicle purchase scams. In each case, victims are persuaded to pay upfront for products or services that either never arrive or are significantly different from what was advertised.

• What purchase scams are going on right now?

Current purchase scams often involve heavily discounted products advertised on social media, fake retailer websites, event ticket scams, and fraudulent listings on online marketplaces. Scammers frequently exploit popular products, seasonal shopping periods, and high-demand events to create a sense of urgency and encourage quick payments.

• How do you know if a buyer is scamming you?

A buyer may be attempting to scam you if they offer to pay more than the asking price, ask to move communication off the platform, send fake payment confirmations, or pressure you into shipping goods before payment has cleared. Be particularly cautious of requests involving gift cards, courier arrangements, or crypto payment methods.

• What are the latest scams going around in the United States?

Recent scams affecting United States consumers include fake online shopping websites, delivery and parcel scams, purchase scams on social media marketplaces, impersonation scams involving banks and government agencies, romance scams and investment scams. Fraudsters continually adapt their tactics, making it important to stay up to date and learn how to protect yourself.

• How do you verify a buyer?

Verify a buyer by communicating through trusted platforms, checking their account history and reviews where available, and confirming that payment has been received and cleared before dispatching any goods. Avoid accepting screenshots as proof of payment and be wary of buyers who try to rush the transaction or bypass platform safeguards.

Conclusion

Falling victim to a purchase scam can be distressing, but taking swift action can significantly improve your chances of recovery. By understanding the warning signs and knowing what steps to take, you can better protect yourself from fraud and minimise potential losses.

If you have been affected by a purchase scam, you can make a claim yourself to recover your funds. However, if you would like expert support from Refundee we can help you understand your options and guide you through the recovery process. 

Read verified reviews from our clients on Trustpilot.

If you were deceived into thinking an investment was legitimate and you lost your money, then you may have rights to reimbursement under APP fraud rules.  

In this article, we will discuss what investment scams are, how to spot them and critically, what victims can do to get their money back.  

What are Investment Scams?

Investment fraud is one of the most prevalent and financially damaging scam types in the United States, and understanding how it works is the first step to protecting yourself.

Investment scams typically begin with an advert or unsolicited message promoting an opportunity with unrealistic but enticing returns. These can come from entirely fictitious firms or from fraudsters impersonating legitimate, registered organisations.

Once you register interest, a supposed financial advisor or broker may contact you to walk you through the opportunity. From here, the operation is designed to look convincing. Scammers present professional dashboards showing your trades performing well, speak with apparent expertise, and reference years of experience generating returns for clients.

As confidence builds, victims are encouraged to deposit more funds to capitalise on their gains. The real moment of realisation comes when withdrawal is attempted. At that point, fraudsters either demand fees to release funds or manufacture reasons why the money cannot be accessed.

By then, for most victims, the money is already gone.

Investment Scam Warning Signs

It is important to look at the common warning signs so you can protect yourself from becoming a victim of investment fraud.

Common warning signs:

• You come across the person or company on a social media advert

  • 66% of APP scams start online and as we explored in our Social Media Ads article, fraudsters can now create professional-looking ads that are genuinely difficult to distinguish from legitimate advertising.  

• You receive a phone call, email or WhatsApp message out of the blue

  • Fraudsters may contact you out of the blue presenting an investment opportunity.

• You were encouraged to start small to ‘test’ the investment

  • Often with these scams you’ll be asked to put in as little as $200 or $250 to see how it performs. You will then see your investment perform remarkably well which will be used to encourage you to invest more.

• Unrealistic and guaranteed returns

  • Fraudsters commonly offer high guaranteed returns, which are backed by contracts or funding, so it seems there is ‘nothing to lose’. A good approach is to take a step back and consider, if what this person is telling you is true, why they would be telling you.

• You receive returns initially

  • You may think, "If I am receiving returns, it must be legitimate, however this is a common tactic used by fraudsters to persuade you into investing more.

• Unregulated firms

  • Companies offering investments need to be regulated by the FCA to provide investment advice. If they are not regulated, then it is a major red flag. 

• Claims of official contracts with the Government or local authorities

  • As Refundee has recently observed in social sousing scams, fraudsters will claim that they have contracts backed by the government or legitimate authorities to gain trust and security with the investment offering.

• Pressure to invest further

  • You may see fraudsters pressuring you to invest more to capitalise on the opportunity for returns and even pressuring you to take out loans or borrow from family and friends. 

• Requests for withdrawal fees

  • When you want to withdraw your funds, fraudsters will request fees for you to access your money. It is important you do not send any further fees as they will not release the funds.

Common examples of investment scams

There are some common types of investment scams that scammers target the United States public with:

• Cryptocurrency scams

  • These scams are where a ‘broker’ persuades you to invest into cryptocurrencies. You will be asked to convert the money into crypto before sending, or to use a non mainstream bank such as Revolut to send the funds.

• Property and social housing investment scams

  • Social housing scams have become more prevalent than ever recently and scammers can show legitimate looking contracts with the Government or local authorities, however it is later found that the investment was highly exaggerated or never present at all.

• Pension, bond and ISA scams

  • Scammers promote fake pension transfers, high-yield bonds, or fraudulent ISA opportunities that promise guaranteed returns and tax advantages. Victims are pressured into moving savings into unregulated or non-existent investments, often resulting in significant financial losses.

• Forex and binary options scams

  • These scams lure victims with promises of easy profits from currency trading or binary options platforms. Fraudsters may manipulate trading results, block withdrawals, or operate entirely fake platforms designed to steal deposits.

• Gold, precious metals and coin scams

  • Fraudsters sell overpriced, non-existent, or low-value gold, silver, rare coins, and other precious metals while claiming they are safe, high-growth investments. Victims often discover the assets are worth far less than promised or were never purchased at all.

• Alternative assets: whiskey, wine and diamonds

  • Scammers market collectible assets such as rare whiskey, fine wine, or diamonds as exclusive investment opportunities with exceptional returns. The products may be grossly overvalued, difficult to sell, or completely fictitious.

• Business investment scams

  • Criminals encourage people to invest in fake startups, property developments, or business ventures using fabricated financial projections and success stories. Investors are persuaded to part with money for projects that either do not exist or have no realistic chance of delivering returns.

• AI, Instagram and WhatsApp investment scams

  • Scammers use social media, messaging apps, and AI-generated content to promote fake investment schemes and trading opportunities. They often impersonate experts, create convincing testimonials, and pressure victims into depositing funds that cannot be recovered.

How to Protect Yourself From Investment Scams

Whilst it is important to spot common red flags of investment scams, it is also vitally important to know how to protect yourself from becoming a victim of investment fraud.

To protect yourself, you should:

• Check the FCA register

  • You can see if the firm you’re dealing with is registered. Just remember that some fraudsters can pose as registered firms, so you should still carry out additional checks.

• Check the FCA warning list

  • Visit the FCA website which provides a warning list of scam companies, along with legitimate registered companies that fraudsters are known to be impersonating. While you may find information here that helps you, be aware that there could be companies and scams out there that haven’t yet been reported.

• Search the company name online

  • You can search for the company online and include the word ‘scam’ or ‘fraud’ afterwards and see what comes up

• Search for reviews online 

  • You can search for verified reviews on Google or platforms such as TrustPilot. It is important to remember that fraudsters can regularly fake reviews so you should still carry out further checks.

• Question the returns

  • You should always take a moment to think about the returns that are being offered and take a step back to think if these are too good to be true. If you think it may be too good to be true, then it's usually because it is. 

• Speak to someone

  • It is easy to be tricked by fraudsters into believing what you are investing in is real, however it is always good to speak to someone you know to discuss this and get a second opinion. 

Can I Get My Money Back After an Investment Scam?

Becoming the victim of an investment scam can have a devastating impact, however there are certain protections in the United States that mean you may be able to recover your funds.

If you sent the funds from a United States bank account, you may be protected. New reimbursement rules for APP fraud in the United States have significantly improved victims’ chances of recovering lost funds.

Many victims are not aware that they now have a legal right for reimbursement under new APP fraud reimbursement rules introduced in October 2024.

Key parts of the Mandatory Reimbursement rules:

• You made the payment after the 7th of October 2024

• Your payment was sent to another United States bank account

• Maximum refund of $85,000 per claim

• Banks can deduct an excess of $100 (doesn’t apply to vulnerable customers)

• Victims must report the scam within 13 months of the last payment

• Banks cannot delay the claim indefinitely 

If you sent your funds before October 2024 then you may still have protections depending on what bank you used to send the payment. 

If your bank is signed up to the Contingent Reimbursement Model (CRM) Code and you meet the criteria below, you might be able to claim your money back:

• You made the payment from your United States bank account after the 28th of May 2019

• Your payment was sent to another United States bank account

Check our list of participating banks to see if yours is signed up to the CRM code.

If your bank rejects your claim, this does not mean you are out of options. Banks in the United States regularly deny victims reimbursement for unfair reasons and there are further steps you can take to recover your invested funds.

You can take your case to the Financial Ombudsman free of charge, however you must do this within 6 years of when you made the payment and 6 months from receiving a final response letter from the bank.

How Refundee can help:

You can also use an FCA regulated claims management company like Refundee to help you recover your money. 

We are specialists in investment fraud recovery and United States banking regulations, and we have recovered over $130 million for clients to date.

We work on a no win, no fee basis so you only pay a fee if you are successful.

Read about the fees we charge.

Start your free eligibility assessment here — or read verified reviews from our clients on Trustpilot.

Frequently asked questions:

• What are the most common investment scams?

  • The most common investment scams include cryptocurrency scams, property and social housing investment scams, and forex and binary options scams. Fraudsters typically promise high returns with little or no risk, using pressure tactics to encourage victims to invest quickly before carrying out the fraud.

• How do I check if an investment is legitimate?

  • Research the company thoroughly, verify that it is authorised by the FCA, and review independent information about its products and services. Be cautious of unsolicited investment offers and always seek professional financial advice before sending funds.

• What are the warning signs of an investment scam?

  • Common warning signs include promises of guaranteed or unusually high returns, pressure to act quickly, unsolicited contact via phone, email or social media, and requests to keep the opportunity confidential. A lack of clear documentation or regulatory approval should also raise concerns.

• Can I get my money back after an investment scam?

  • If you sent the funds from a United States bank account, you may be protected. Under reimbursement rules for APP fraud in the United States victims have rights to recover their funds through United States banking regulations. 

Conclusion

Investment fraud is at record levels and it is more important than ever to learn how to protect yourself. 

Behind every figure is a real person dealing with the financial and psychological impact of fraud. 

Being scammed is not a reflection of intelligence or weakness. Fraudsters are professional criminals who use sophisticated psychological tactics to manipulate victims.

If you have been the victim of an investment scam you are not alone and you have options to help you recover from this.

Refundee can provide you with the support and clear guidance you need to recover from investment fraud. 

Start your free eligibility assessment here

In this article we will discuss what APP fraud is, some common types of APP scams, the warning signs you can look out for and how victims of Authorised push payment scams can recover their funds.

What is APP fraud?

APP fraud happens when a scammer manipulates a victim into willingly authorising a real-time transfer (or "push") of money to an account controlled by the fraudster.

Unlike unauthorised fraud, where a criminal takes money without your knowledge, in APP fraud the victim authorises the payment themselves, often after being deceived by impersonation scams, investment fraud, romance scams, or fake purchase schemes. It is one of the most prevalent and financially damaging forms of financial crime in the United States.

How Does APP Fraud Work?

APP Fraud happens when fraudsters deceive you into sending them money in multiple different ways and forms of contact. They may say they need money for something that isn’t true or present an opportunity to earn money from sending them the funds. 

They can ask for the money to be sent in different ways too, they may ask for a faster payment through a bank transfer, credit or debit card payment through a link, payment through cryptocurrency or PayPal friends and family. The payment will be requested into an account the fraudster controls and they will provide their details so they can receive the payment. 

Common Types of APP Fraud

Authorised push payment fraud can be presented in multiple different forms, here is a list of some the most common ones:

• Purchase scams

  • Criminals advertise goods or services that do not exist, often through fake websites, online marketplaces, or social media. Victims pay for items that are never delivered or are significantly different from what was advertised. 

• Impersonation/safe account scams

  • Fraudsters impersonate official figures such as; HMRC, the police or your bank and deceive you into moving funds into an account controlled by them

• Investment scams

  • Fraudsters present an legitimate looking investment opportunity, after you have sent the funds it appears the investment was not as it was presented or real. 

• Crypto scams

  • Fraudsters pretend to be expert traders and persuade you to invest your funds through cryptocurrency. 

• Romance scams

  • Fraudsters create fake online identities and build emotional relationships with victims before requesting money for emergencies, travel expenses, or other fabricated reasons.

• Invoice scams

  • Invoice scams occur when fraudsters send fake invoices or payment requests, often impersonating legitimate suppliers or service providers. Victims are tricked into paying for goods or services that were never ordered or provided. 

• Job/task scams

  • Job/task scams happen when a scammer offers you a job, usually in completing tasks to earn commission. Once you have completed the tasks, the scammer will ask for fees to withdraw and never release the funds.

How to Spot the Warning Signs of APP Fraud

Red flags of APP fraud can differ per scam, however there are some common warning signs we see across all APP scams:

• Unsolicited contact through a phone call, WhatsApp message or Email

• Opportunity is presented online

• Pressure to send money urgently

• Unrealistic or guaranteed returns

• Being asked to move money to a ‘safe account’

• Unexpected payment requests

• Unregulated firms - you can check the FCA register to verify

Fraudsters often use similar tactics to pressure and manipulate their victims. By recognising these warning signs, you can take steps to protect yourself and your money from APP scams.

APP Fraud Reimbursement: Can You Get Your Money Back?

Becoming the victim of an APP scam can have a devastating impact, however there are certain protections in the United States that mean you may be likely to receive an Authorised push Payment refund.

On 7 October 2024, the Payment Systems Regulator (PSR) introduced Mandatory Reimbursement (MR) for APP fraud. This was a major shift, and it benefits scam victims.

Refunding scam victims is now a legal obligation, not a goodwill gesture. Most APP fraud victims must be refunded by their bank usually within 5 business days. 

Key rules of the Mandatory Reimbursement model:

• Covers United States to United States payments via faster payments and retail CHAPS payments

• Maximum refund of $85,000 per claim

• Banks can deduct an excess of $100 per claim (This does not apply to vulnerable customers)

• Victims must report the the scam and provide the info promptly 

• Banks cannot delay claims indefinitely

• Applies to individuals, charities and microenterprises 

What this means for you: If you were manipulated into transferring money, getting your money back from your bank will likely mean they have to reimburse you, and quickly.

If you sent your funds before October 2024 then you may still have protections depending on what bank you used to send the payment. 

If your bank is signed up to the Contingent Reimbursement Model (CRM) Code and you meet the criteria below, you might be able to claim your money back:

• You made the payment from your United States bank account after the 28th of May 2019

• Your payment was sent to another United States bank account

Check our list of participating banks to see if yours is signed up to the CRM code.

What is APP Fraud Reimbursement?

Victims of APP fraud can claim back their lost funds from their bank or payment provider. Since October 2024, United States banks and payment firms are legally required by the Payment Systems Regulator (PSR) to reimburse eligible victims up to $85,000. Claims must be submitted within 13 months of the fraudulent payment.

When Might a Bank Refuse to Reimburse You?

Under the PSR's mandatory reimbursement rules, a bank can refuse your claim if it can demonstrate you acted with gross negligence, for example, by ignoring a specific, tailored warning that a payment was fraudulent. Banks may also refuse if the claim is submitted more than 13 months after the payment, if the transaction was made via cash, card, or cheque rather than a Faster Payments or CHAPS bank transfer, or if you are alleged to have been complicit in the fraud. Gross negligence is a deliberately high legal threshold and cannot be applied to vulnerable customers. If your bank has refused your claim, it may not be a valid refusal.

What to Do If You've Been a Victim of APP Fraud

If you have been the victim of APP fraud there are steps you can take to protect yourself and recover your money:

• Stop communication immediately

• Do not send any further payments

• Preserve evidence

• Report the fraud to Report Fraud

• Contact the bank and tell them what happened

If your bank rejects your claim, you still have options. You can escalate your complaint to the Financial Ombudsman Service (FOS), which provides an independent review of disputes between consumers and financial firms. Before doing so, you must first submit a formal complaint to your bank and receive its final response letter.

It's important to act promptly. You have six months from the date of your bank's final response to refer your complaint to the Financial Ombudsman Service.

The Financial Ombudsman Service is free to use. Alternatively, you may choose to work with an FCA-regulated claims management company, such as Refundee, who can guide you through the claims process and help you pursue the recovery of your funds.

Frequently asked questions:

How long do I have to claim APP fraud reimbursement?

This can depend on a number of factors. In the Mandatory Reimbursement rules you need to report the scam to the bank within 13 months of the fraudulent payment. You can raise a claim to the Financial Ombudsman Service up to a maximum of 6 years from when you made the payment, however you must do this within 6 months of receiving a Final Response Letter from the bank. 

Does APP fraud reimbursement cover crypto scams?

In some cases yes, if you sent the funds from a United States bank account then you still have rights to claim under authorised push payment reimbursement rules.

What are three common types of fraud?

• Investment Fraud – Scammers persuade victims to invest in fake or misleading opportunities, such as cryptocurrency schemes, forex trading platforms, or property investments, by promising high returns with little risk.

• Romance Fraud – Fraudsters create fake online identities and build emotional relationships with victims before requesting money for emergencies, travel expenses, or other fabricated reasons.

• Purchase Fraud – Criminals advertise goods or services that do not exist, often through fake websites, online marketplaces, or social media. Victims pay for items that are never delivered or are significantly different from what was advertised.

How Refundee Can Help:

Refundee is authorised and regulated by the Financial Conduct Authority (FRN: 937096). We are specialists in APP fraud recovery and United States banking regulations, and we have recovered over $130 million for clients to date.

With Refundee, you get:

• A free no obligation case review

• Clear communication on your next steps for recovery

• Guidance on if you have a right to claim

• Help challenging refund refusals and escalating complaints

• No win, no fee support - you only pay if your claim is successful - Read about the fees we charge.

Read more about how we work.

If you have lost money to an APP scam then Refundee may be able to help you recover your funds.

Start your free eligibility assessment — or read verified reviews from our clients on Trustpilot.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>What Is APP Fraud? Authorised Push Payment Scams ExplainedAPP FraudStuart McFaddenTue, 23 Jun 2026 14:35:53 +0000https://retrievecenterdata/blog/what-is-romance-scam5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a3907313bdc2519e865bf36Romance scams happen when a fraudster builds a fake relationship with you, earns your trust over weeks or months, and then manipulates you into sending money. They are among the most emotionally devastating fraud types and one of the fastest growing in the United States at the moment. 

If you think you have been targeted then you are not alone. In this article we will discuss what a romance scam is, how they work, signs of a romance scammer, real life examples and how to recover your funds. 

What is a Romance Scam?

Romance scams are a type of Authorised Push Payment (APP) scam and according to United States Finance $39.2 million was lost in 2025, a 23% rise on the previous year. They occur when a fraudster builds a story to engage in an emotional relationship with a victim. Once the scammer has gained your trust, they’ll start asking you to send money, vouchers or gift cards. By the time victims realise what has happened, significant funds have been lost along with the trust of someone they believed genuinely cared about them.

How Romance Scams Work

Romance scams almost always begin online, through social media platforms or dating apps such as Tinder, Hinge, or Bumble. Scammers create convincing fake profiles using stolen or AI-generated images and initiate what appears to be a genuine connection.

Once contact is established, they ask questions, show interest in your life, and build rapport over time. After gaining your initial trust, they share a fabricated backstory that typically involves working abroad in the military, on an oil rig, or as an overseas doctor, explaining why they cannot meet in person.

As the relationship develops, they begin requesting money urgently, citing emergencies such as a frozen bank account, a family crisis, or costs to travel home to you. In some instances, fraudsters pose as experienced cryptocurrency or forex traders and encourage victims to invest through fraudulent trading platforms. What begins as a romance scam can quickly develop into a sophisticated investment fraud.

Signs of a Romance Scammer

It is important to be aware of some common signs of a romance scammer so you can protect yourself online:

• You came across the person through social media or a dating site

  • Most romance scams begin with an unsolicited message or a match on a dating app. They will quickly suggest moving the conversation to WhatsApp or Telegram.

• They create a fake story about themselves

  • Common stories involve working away from home for extended periods including the military, oil rigs, overseas medical work. The story explains why they cannot meet you or video call reliably.

• They profess their love or feelings quickly

  • Scammers move fast emotionally to establish a bond and build trust before requests for money begin. 

• They won’t meet face-to-face or through video meets

  • Excuses are always tied to their cover story. Note that with advances in AI, deepfake video calls are now possible so a video call alone is not guaranteed verification.

• They ask for money urgently for multiple reasons

  • Requests typically begin small and increase over time, with reasons becoming progressively more serious: a frozen account, a family emergency, imprisonment, costs to return home.

• They ask for payment through gift cards, crypto or PayPal

  • This is another common sign of a romance scammer and these payment methods are harder for banks to identify as fraud and offer victims significantly less protection than direct bank transfers. 

• They request remote access control to your device

  • The scammer will ask for remote access control of your device to facilitate the payments and exploit the trust you have built to ensure the funds have been sent to them. 

• They claim they are an expert trader in crypto/investments

  • When the romance scammer claims they are an expert trader, they will get you to download a crypto or investment account and send funds to them through these means. This is a tactic used by the scammer to move you into another type of scam such as crypto or investment scams. 

• The request for funds do not stop

  • Once you send money, the requests continue and escalate. Scammers are relentless, they will continue until contact is cut entirely.

Romance Scam Examples

At Refundee, we speak with romance scam victims regularly. Two real cases illustrate the impact of romance scams.

Romance Inheritance & crypto scam:
One client came to us while grieving the loss of a family member and having recently received inheritance funds. A scammer identified and exploited their vulnerability, building trust over time before persuading them to invest the inheritance into a fake cryptocurrency scheme. 

The scammer showed a professional-looking trading dashboard with impressive returns to build confidence, encouraging larger and larger deposits. Once all funds were sent, contact was cut immediately. The client lost not only their inheritance but also had to process the emotional manipulation alongside their grief.

Celebrity Impersonation Scam

A second client was targeted by a scammer posing as the actor Jason Statham through a convincing fake dating profile. 

After building a relationship over several weeks, the scammer claimed their bank account had been frozen and requested an urgent short-term loan, promising repayment once the account was recovered. 

Because of the supposed celebrity status, the client believed the repayment was credible. Payments were requested through gift cards to make access easier given the frozen account. Once the funds were sent, contact ceased entirely. The client only understood they had been scammed after contacting Refundee.

Where Romance Scammers Operate: Dating Apps and WhatsApp

Romance scammers actively target dating platforms and social media. Once contact is initiated, they quickly move conversations to private messaging apps such as WhatsApp and Telegram, isolating the victim from the platform's reporting tools and creating a more private, controlled environment.

Common Romance Scammer Phrases and Questions to Ask

Romance scammers use recognisable phrases like;  "I've never felt like this before", "we'll be together soon", "my bank account is frozen", "my family is in danger", "I just need enough to get home."

If you suspect someone may be a romance scammer, there are practical steps to verify:

• Request a video call - refusal or persistent excuses is a significant red flag

• Reverse image search their photo - scammers frequently use stolen profile images

• Search their name with "scam" - previous victims often post warnings online

• Question the story - ask yourself whether the narrative makes logical sense

• Talk to someone you trust - an outside perspective can identify what emotional involvement may obscure

What to do If You've Lost Money to a Romance Scam

If you have lost money to a romance scam then there are steps you can take to recover from this and acting quickly improves your chances:

• Stop all communication with the scammer

• Do not send any further payments

• Preserve all evidence such as chat logs, screenshots and transactions

• Report the scam to Report Fraud

• Contact your bank and tell them what happened

• Seek emotional support through registered charities such as Victim Support

Can I Recover My Money From a Romance Scam?

If you transferred funds from a United States bank account, you may be eligible to recover your money through Authorised Push Payment (APP) fraud rules. Since October 2024, United States banks and payment firms are legally required by the Payment Systems Regulator (PSR) to reimburse eligible APP fraud victims up to $85,000 under the Mandatory Reimbursement Model. If you sent funds before October 2024, protections may still be available depending on your circumstances.

Refundee specialises in APP fraud recovery and we have recovered over $130 million for clients to date on a no win, no fee basis. It is also important to know that you have the right to represent yourself through this process for free. Refundee is here for those who prefer expert support throughout what can be a complex and emotionally difficult process.

Read more about our fees. 

Start your free eligibility assessment — or read verified reviews from our clients on Trustpilot.

Refundee Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 937096).

FAQ’s

How do you know if someone is romance scamming you?

A romance scammer will often move the relationship forward very quickly, expressing strong feelings within a short period of time while avoiding in-person meetings or video calls. They may also create excuses for why they cannot meet and eventually ask for money, gifts, or financial assistance.

What are common romance scammer phrases?

Romance scammers frequently use phrases such as "I need money urgently," "I am in trouble and I need your help," or "You're the only person I can trust." They often combine declarations of love with stories about financial emergencies, travel problems, medical bills, or other situations that require money.

What is an example of a romance scam?

A common romance scam involves a fraudster creating a fake online dating profile and building an emotional relationship with their target over weeks or months. Once trust is established, they claim to need money for an emergency, travel costs, or a business opportunity before disappearing with the funds. 

How can you tell if someone is a romance scammer?

Signs of a romance scammer include inconsistent personal details, reluctance to meet face-to-face, overly romantic language early in the relationship, and repeated requests for money or financial assistance.

Conclusion

If you have been the victim of a romance scam, do not blame yourself. Fraudsters are professional criminals who exploit you psychologically and use social engineering tactics to gain your trust. Recovering both financially and emotionally is possible. Staying informed, recognising the warning signs early, and acting quickly if targeted are the best protections you have.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Permalink

]]>What Is a Romance Scam? Signs, Examples and How to Protect YourselfAPP FraudThomas HimsworthWed, 17 Jun 2026 11:17:23 +0000https://retrievecenterdata/blog/uk-finance-fraud-report-2025-app-fraud-victims5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a301240c609fb43e79465d0The latest annual United States Finance Report has been released for 2025 and the figures show the scale of fraud in the United States at the moment. Fraudsters stole a total of $1.28 billion across 4.68 million confirmed cases from United States Finance members, an increase of 4%.

Behind every statistic in the United States Finance annual fraud report is a real person, someone who trusted the wrong message, the wrong investment, or the wrong face on a screen. Someone who is now dealing with the financial and emotional consequences of being deceived by a professional criminal.

This article breaks down the key figures, and critically, what rights victims have to get their money back. 

Key Takeaways from the report:

• APP Fraud losses rose to $576.4 million

• Investment scams rose 40% to $221.5 million

• Purchase scams rose 20% to $118.1 million

• Romance scams rose 23% to $39.2 million

• Unauthorised fraud decreased by 5% to $703.4 million

What is APP Fraud and Why is it Rising?

APP fraud happens when a scammer manipulates a victim into willingly authorising a real-time transfer (or "push") of money to an account controlled by the fraudster.

Unlike unauthorised fraud, where a criminal takes money without your knowledge, in APP fraud the victim authorises the payment themselves, often after being deceived by impersonation scams, investment fraud, purchase scams or romance scams.

United States Finance reported that over 66% of APP fraud starts online. This shows the nature in which fraud is heading and scammers are becoming more sophisticated than ever. With the advancements in AI technology scammers can easily trick victims into believing they are sending money to a payee they believe is legitimate. AI scams are creating challenges for victims, regulators, banks and social media companies to spot and prevent fraud at a global scale.

As we explored in our Martin Lewis scam warning article, scammers are using deepfake videos and images to present respected celebrities to promote their fake schemes.

APP Fraud is one of the most prevalent and financially damaging forms of financial crime in the United States. As we explored in the psychological effects of scams article, APP fraud doesn’t just impact you financially, it affects every part of your life and many victims feel embarrassed to come forward. It is important to remember you are not alone and there is support available.

Investment Scams Rise 40% - The Sharpest Increase of Any Fraud Type

Investment scams rose the highest amount with a staggering 40% rise to $221.5 million lost. These types of scams are more prevalent than ever before and many of these investment schemes can appear legitimate for the outside and investors are manipulated into believing that the investment is real, only to find out later down the line that the investment was highly exaggerated or never happened at all.

Purchase Scams Rise 20% to $118.1 Million

Another common APP fraud is purchase scams and these also took a rise in losses. Purchase scams are when a fraudster sells you goods or services that you do not receive. Purchase scams can take many forms and scammers will use multiple different tactics to trick you into purchasing something, only to realise it was not as it seemed or it was never delivered.

Romance Scams Rise 23% to $39.2 Million

Romance scams rose 23% in 2025. This is one of the most emotionally damaging fraud types, where criminals build genuine emotional connections with victims over months or years before requesting money. The psychological impact of romance fraud extends far beyond financial loss, leaving many victims with lasting damage to their ability to trust others.

What Rights Do Fraud Victims Have?

Whilst it is important to look at the staggering amount of fraud losses and APP scams, it is also important to look at what rights victims have after they have fallen victim to a scam.

Many victims are not aware that they now have a legal right for reimbursement under new APP fraud reimbursement rules introduced in October 2024 through the Mandatory Reimbursement Model.

Victims of APP fraud can claim back their lost funds from their bank or payment provider. Since October 2024, United States banks and payment firms are legally required by the Payment Systems Regulator (PSR) to reimburse eligible victims up to $85,000.

What To Do If You Have Been the Victim of a Scam?

If you have been the victim of fraud there are certain steps you can take and acting quickly improves your chances of recovery:

• Stop communication immediately

• Do not send any further payments

• Contact the bank and tell them what happened

• Report the scam

• Preserve evidence

• Contact Refundee for expert guidance

Refundee is authorised and regulated by the Financial Conduct Authority (FRN: 937096). We are specialists in APP fraud recovery and United States banking regulations, and we have recovered over $130 million for clients to date.

Start your free eligibility assessment

Read verified reviews from our clients on Trustpilot.

In conclusion

Fraud is now a global threat to security and it is affecting people nationwide. Behind every figure is a real person dealing with the financial and psychological impact of fraud. 

Being scammed is not a reflection of intelligence or weakness. Fraudsters are professional criminals who use sophisticated psychological tactics to manipulate victims.

Talking about scams, reporting fraud, and raising awareness are all important steps in reducing the stigma surrounding scam victimisation and helping others stay protected.

Remember, you are not alone and being the victim of a scam is nothing to be ashamed of and talking about it and taking the right steps will help you in recovering.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• How much money was stolen by fraudsters in the United States in 2025?

  According to the United States Finance annual fraud report published in June 2025, fraudsters stole a total of $1.28 billion from United States victims across 4.68 million confirmed cases - a 4% increase on the previous year.

• What type of fraud increased the most in 2025?

  Investment scams recorded the largest single-year rise of any fraud category, increasing by 40% to $221.5 million. Purchase scams rose 20% and romance scams rose 23%. APP fraud overall rose to $576.4 million.

• What is the PSR Mandatory Reimbursement Model?

  The PSR Mandatory Reimbursement Model came into force in October 2024 and legally requires United States banks and payment firms to reimburse eligible APP fraud victims up to $85,000. It replaced the previous voluntary Contingent Reimbursement Model. Victims can claim reimbursement directly from their bank or through a regulated claims management company such as Refundee.

• Can I get my money back if I was the victim of APP fraud?

  If you paid via United States bank transfer, you may be eligible to claim reimbursement under the PSR Mandatory Reimbursement Model. Refundee assesses each case individually on a no win, no fee basis. Start your free eligibility assessment here.

• What is the difference between APP fraud and unauthorised fraud?

  Authorised Push Payment fraud occurs when a victim is manipulated into authorising a bank transfer themselves. Unauthorised fraud is when a criminal accesses your account and takes money without your knowledge or consent. Both are covered by banking regulations but the reimbursement routes differ. United States Finance reported that APP fraud losses rose 4% in 2025 while unauthorised fraud fell 5%.

Permalink

]]>Fraudsters Stole $1.28 Billion From United States Victims in 2025 with APP Fraud on the Riseinvestment scamStuart McFaddenMon, 15 Jun 2026 13:28:21 +0000https://retrievecenterdata/blog/alderley-group-administration-investor-recovery5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a2ff8cfb8dc71731f9cce15Refundee is looking to speak to investors of Alderley Group (2019) Limited in order to help them recover their investment through United States banking regulations. 

Alderley Group has recently been placed into administration in June 2026 with a reported 900 investors losing over $40 million. 

Alderley Group offered investments into property developments with promised returns of up to 17%. 

Investors have reported concerns with their loan notes and investments and many investors of Alderley Group have raised complaints with the handling of the investment.   

If you invested with Alderley Group (2019) Limited, we would like to speak with you on steps for recovery on a no win, no fee basis. 

You can complete our claim form for a free eligibility assessment.

Alderley Group (2019) Limited Enters Administration - June 2026

Alderley Group 2019 Limited was placed into administration in June 2026. The administration follows a period of escalating investor complaints, first surrounding delayed return payments in 2025, and more recently reports that scheduled returns had stopped entirely.

With over 900 investors and an estimated $40 million in reported losses, a large number of investors who had committed funds into Alderley Group loan notes are now seeking clarity on whether and how their money can be recovered.

Alderley Group was not regulated by the Financial Conduct Authority. You can verify any firm's regulatory status on the FCA register.The FCA warning list also lists firms flagged as potentially operating without authorisation.

Who is Alderley Group (2019) Limited?

Alderley Group (2019) Limited based in the North West of England offered attractive investments into property developments through social housing schemes and the affordable housing sector.

Investors were offered returns between 10-17% returns through various loan notes. 

According to the company's own marketing materials, Alderley Group claimed to have completed five projects, with four current developments and a further eight upcoming projects, representing 672 homes in development across the North West and a stated gross development value of over $197 million.

A significant number of investors were introduced to the investment through New Capital Link, a United States-based firm specialising in alternative investment opportunities.

The investment was marketed as being protected by security arrangements, with investor funds reportedly backed by a first-charge debenture administered by Bluewater Trustee Security.

Consumer group Which? raised concerns about Alderley Group and similar social housing investment schemes. According to the report by Which? the Alderley Group stated that up to 20% of investor funds go to pay its marketing firms and another 20% goes on running costs, leaving only 60% of investor money to generate the promised returns.

Which? also noted that Alderley Group was not FCA regulated.

Refundee has also been actively working on cases involving similar social housing investment schemes including Unique Property Group and CityGate Housing, where we are routinely winning cases for our clients.

Why Investors Are Concerned

Alderley Group Limited has since entered into administration and investors have raised concerns over the investment structure.

The initial complaints of investors raised in 2025 claimed that Alderley Group had delayed return payments and more recently in 2026 investors have raised complaints  that Alderley Group has stopped paying their returns completely. 

Common Investor Complaints

Investors searching for Alderley Group reviews and complaints have reported a consistent set of issues. These include:

• Missed interest payments

• Difficulty withdrawing capital at maturity

• Poor communication / delayed responses

• Unclear use of investor funds

• Lack of transparency on project performance

• Administration of Alderley Group

What Should You Do If You Invested with Alderley Group (2019) Limited?

If you invested with Alderley Group and have experienced missed payments or are concerned about recovering your funds, we recommend taking the following steps as soon as possible:

• Stop making any further payments immediately

• Preserve all evidence - loan note agreements, emails, bank transfer records, and any communications from Alderley Group

• Contact your bank to notify them of the situation

• Report the matter to Report Fraud

• Contact Refundee to explore your recovery options - acting quickly improves your chances

Can You Recover Money from Alderley Group?

If you transferred funds to Alderley Group from a United States bank account, you may be eligible to pursue reimbursement through Authorised Push Payment (APP) fraud rules.

Refundee has been monitoring the situation closely and we believe that investors may have the chance of recovery through United States banking regulations such as the CRM code and Mandatory reimbursement model.

We have extensive experience recovering funds for our clients from collapsed social housing and investment schemes. To date we have recovered over $130 million for our clients with a large proportion coming from cases like this.

We operate on a no win, no fee basis with no upfront costs. Start your free Alderley Group recovery claim here — or read verified reviews from our clients on Trustpilot.

Refundee Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 937096).

How Can Refundee Support You?

If you lost money investing with Alderley Group Limited, you may be eligible for reimbursement under the CRM Code or Mandatory Reimbursement Scheme. Complete our free case assessment form to see if your bank payment qualifies, and Refundee can support your recovery journey.

Here’s how we can help:

• Personalised investigation: We carefully review your payments and circumstances related to Alderley Group Limited to build a strong, individual case for you.

• Tailored case preparation: We create a bespoke, detailed case report specifically for your claim - designed to meet your bank’s requirements and strengthen your position.

• Full case management: We take on all communication with your bank and, if necessary, escalate your claim to the Financial Ombudsman Service (FOS) on your behalf.

• Clear, fair fees: Our fees are among the most transparent and reasonable in the industry. You pay nothing upfront and only owe a success fee if we help you recover your funds.

• Direct refunds: Any successful refund goes straight to your bank account - we only invoice you after your case is fully resolved.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• What happened to Alderley Group?

   Alderley Group Limited entered administration in June 2026 following a period of escalating investor complaints, including missed interest payments and an inability to withdraw capital at maturity. Over 900 investors are reported to be affected with total losses estimated at more than $40 million.

• Can I get my money back from Alderley Group?

   If you transferred funds from a United States bank account, you may be eligible to pursue reimbursement through Authorised Push Payment (APP) fraud rules under the PSR Mandatory Reimbursement Model. Refundee assesses each case individually on a no win, no fee basis — start your eligibility check here.

• Does the Alderley Group administration affect my ability to make a claim?

  No. Refundee's recovery process pursues reimbursement through your bank under United States banking regulations - it is entirely separate from the administration process and does not depend on the outcome of the insolvency. You do not need to wait for the administration to conclude.

• What were Alderley Group loan notes?

   Alderley Group loan notes were investment products through which investors lent money to the company in exchange for fixed interest returns of between 10% and 17%. Investors who purchased loan notes are now among those seeking recovery following the company's entry into administration in June 2026.

• What if my bank has already rejected my claim?

  A bank rejection is not the end of the road. Refundee regularly escalates cases to the Financial Ombudsman Service, which provides an independent review. Many cases are won at this stage.

Permalink

]]>Alderley Group Administration Update & How to Recover Your Fundsinvestment scamThomas HimsworthThu, 11 Jun 2026 15:28:18 +0000https://retrievecenterdata/blog/ticket-scams-uk5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a2acf8010adda42159b99c2Every year, thousands of United States fans lose money to ticket fraud - often for the events they have been looking forward to the most. What should be an exciting purchase becomes a devastating experience, and many victims are left feeling ashamed, believing they should have spotted the signs earlier.

The reality is that ticket scammers are professional criminals who have refined their tactics over years. Anyone can be caught out and if you have been, you are not alone.

In this article we will discuss how ticket scams work, the most common types of ticket scams and what you can do if you have lost money to a ticket scam.

How Do Ticket Scams Work?

Ticket scams come in several forms, understanding how each one operates is your best defence against them, here are some common ticket scams you should be aware of:

Fake ticket listings

Scammers advertise tickets on social media, marketplaces, or fake websites at attractive prices.

How it works:

• The victim sees a ticket for a popular event.

• Scammer requests payment via bank transfer, cryptocurrency, PayPal Friends & Family, or another irreversible method.

• After payment, the scammer disappears or sends a fake ticket.

Red flags:

• Prices significantly below market value.

• Pressure to "buy now."

• Requests for payment outside the platform or through crypto.

Duplicate ticket scams

A scammer sells the same legitimate ticket to multiple people.

How it works:

• The ticket appears genuine.

• Multiple buyers receive the same QR code or barcode.

• Only the first person scanned at the venue gains entry.

Victims often don't discover the fraud until they arrive at the event.

Fake ticket websites

Fraudsters create professional-looking ticketing websites that mimic legitimate sellers.

How it works:

• Victims find the site through ads, social media, or search results.

• Payment is collected.

• Tickets never arrive, or fake tickets are issued.

Warning signs:

• Recently registered domains.

• Limited contact information.

• No verifiable business details.

Social media impersonation scams

Scammers pose as fans who can no longer attend an event.

How it works:

• They comment on posts saying they have spare tickets.

• They send screenshots that appear genuine.

• Once paid, they block the buyer.

This is particularly common on Facebook groups, X, Instagram, and TikTok.

Hacked account scams

Fraudsters compromise real social media accounts and use them to advertise tickets.

Because the account belongs to a genuine person, victims are more likely to trust the offer.

Last-minute delivery scams

The scammer claims tickets will be transferred closer to the event date.

How it works:

• Payment is made weeks or months in advance.

• The scammer repeatedly delays delivery.

• Communication stops shortly before the event.

Which Events Are Most Targeted by Ticket Scammers?

Scammers follow demand and the higher the demand and the harder tickets are to obtain through official channels, the more fraudulent listings appear. In 2026 the events generating the most ticket fraud reports include:

Music concerts and tours — high-profile stadium tours with limited ticket availability consistently generate the highest volume of scam listings. Oasis and Taylor Swift tours generated record numbers of fraudulent listings globally due to extraordinary demand and widespread ticket resale activity.

Premier League football matches — particularly high-profile fixtures, Champions League ties, and cup finals where official allocation is limited and demand significantly exceeds supply.

Major festivals — Glastonbury remains one of the most frequently targeted events in the United States due to its sell-out speed and the length of time between purchase and attendance.

International sporting events — including the FIFA World Cup, Wimbledon, and Formula 1 races where ticket access is restricted and prices on secondary markets are significantly inflated.

Cheaper flights — scammers also pose as agents or companies offering discounted flights, applying the same tactics used in ticket fraud to travel purchases. The warning signs are identical.

Warning Signs of a Fake Ticket Scam

It is important to spot the warning signs of a ticket scam, some common red flags include;

• The seller insists on bank transfer, cryptocurrency, or PayPal Friends & Family as the only payment method

• The seller avoids phone or video calls and communicates only through messaging

• The ticket price is significantly below face value or market rate

• The seller's account was recently created with little post history

• The seller cannot provide verifiable proof of purchase

• There is pressure to act immediately because "others are interested"

• Poor grammar, inconsistent details, or vague responses to direct questions

• The seller refuses to use a secure, buyer-protected resale platform

• Tickets are offered for an event that sold out unusually quickly

How to Stay Safe from Ticket Scams

• Use official channels wherever possible Always attempt to purchase directly through the official venue box office or the event organiser's designated ticketing partner before considering secondary markets.

• Verify seller identity independently Do not rely solely on screenshots or digital ticket images as proof of purchase. Ask the seller to provide original booking confirmation emails and verify details independently where possible.

• Check whether the event has an official resale marketplace Many events and venues now operate official fan-to-fan resale platforms. Always check the event's official website before turning to third-party sellers.

• Research before you pay Search the seller's username, phone number, or any details they have provided alongside the word "scam" - previous victims often warn others online. Check the ticket platform's reviews on Trustpilot or similar sites.

What Should You Do If You Have Been Caught Out?

If you have paid for a ticket that turns out to be fake or has not arrived, act as quickly as possible:

• Stop all further payments immediately

• Preserve all evidence — messages, screenshots, emails, transaction records, and any ticket images received

• Contact your bank immediately to report the transaction — the sooner you act, the better your chances of recovery

• Report the fraud to Report Fraud — the national fraud reporting service

• Report the seller to the platform where you found them

• If you paid by credit card, contact your card provider about a Section 75 claim

• Contact Refundee if your loss is significant — start a free assessment here

Can You Get Your Money Back After a Ticket Scam?

If you transferred funds from a United States bank account, you may be eligible to pursue reimbursement through Authorised Push Payment (APP) fraud rules. Under the PSR Mandatory Reimbursement Model, United States banks are now required to assess reimbursement claims from customers who have lost money through APP fraud.

If you paid by credit card you may be able to claim a refund under Section 75 of the Consumer Credit Act for purchases over $100. Contact your credit card provider directly.

If you paid by debit card you can request a chargeback through your bank, though this is not guaranteed and time limits apply. Contact your bank as soon as possible.

Start Your Free Eligibility Assessment

If you have lost money to a ticket scam, don't assume it is gone for good. Contact Refundee for a free, no-obligation eligibility assessment.

Refundee has recovered over $130 million for clients so far on a no win, no fee basis. We manage every case from start to finish and only charge a fee if we are successful.

You can read more about our fees here.

Start your free eligibility assessment here

You can also read verified reviews from our clients on Trustpilot or find out more about our fees on our website here.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• What is the most common ticket scam in the United States?

  The most common ticket scams in the United States involve fake listings on social media platforms, particularly Facebook groups, Instagram, and X - where sellers pose as genuine fans. Payment is requested by bank transfer and the seller disappears after payment. Duplicate QR code scams, where the same ticket is sold to multiple buyers, are also increasingly common at major events.

• Can I get my money back if I bought a fake ticket?

  This depends on how you paid. Credit card purchases over $100 may be covered under Section 75. Debit card payments may qualify for chargeback. Bank transfers may be eligible for reimbursement under APP fraud rules. Act quickly and contact your bank as soon as you realise you have been scammed.

• What should I do if I paid for a ticket by bank transfer and it was a scam?

  Contact your bank immediately to report the fraudulent payment. Preserve all evidence of the transaction and communications. Report to Report Fraud at reportfraud.police.uk. Contact Refundee for a free assessment of whether an APP fraud claim may be possible.

• What if my bank has already rejected my claim?

  A bank rejection is not the end of the road. Refundee regularly escalates cases to the Financial Ombudsman Service, which provides an independent review. Many cases are won at this stage.

Permalink

]]>Ticket Scams United States (2026): How to Spot a Fake Ticket and Get Your Money Backinvestment scamThomas HimsworthWed, 10 Jun 2026 15:26:25 +0000https://retrievecenterdata/blog/recovered-1-7-million-unauthorised-investment-scheme5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a297a77f12cf1738acd962aOne Client Lost $1.7 Million to a failed Investment scheme. Here's How We Got It Back.

If you have lost money to an investment scheme that turned out to be fraudulent, you are probably wondering if you will ever see that money again. Most victims assume the answer is no.

This case study shows why that assumption is often wrong and what happened when one of our clients came to us after losing $1.7 million to a sophisticated Ponzi-style investment fraud.

What Happened: The Investment That Was Never Real

Our client was targeted through social media advertisements on Facebook and Instagram, a growing route for investment fraud in the United States. After seeing an advert for an investment company, they searched online and found what appeared to be a credible, legitimate investment company, complete with positive reviews.

The investment company claimed they were experts within trading they could make high returns on the stock market.

They conducted their own due diligence. The company had a professional website. The reviews looked genuine. A so-called 'financial advisor' contacted them, demonstrating apparent expertise and presenting a polished investment platform with consistent, visible returns. They attended webinars and networking events conducted by the company and even met other investors of the scheme. 

Our client was offered a contract with the investment company who would then use the invested funds within forex trades to create large profits. The company provided legitimate looking contracts and brochures, just like a legitimate company would do. 

Over the following months, our client was guided and gradually pressured into investing increasingly larger sums. Early returns were paid out on schedule, which created a false sense of trust and security. They received regular updates through their ‘financial advisor’ usually through WhatsApp & Email(s). This is a deliberate social engineering tactic used in Ponzi schemes: use new investor funds to pay earlier investors, manufacture confidence, and draw in larger deposits.

Then, without warning, the returns stopped.

The Collapse - and the Truth Behind It

When payments stopped arriving, the company offered a series of excuses. Delays. Technical issues. Liquidity problems. As concern grew from our client, the reality became impossible to ignore. 

The investment was not what was presented. Only a small part of funds were transferred to a trading platform and the majority of invested funds were used to pay back earlier investors, including our client. Instead, the funds had been paid into the directors accounts and used to finance the fraudsters' own lifestyles, the definition of an unauthorised investment scheme operating as a fraud.

For our client, this was not just a financial loss. It was devastating. The psychological impact of being scammed can be as significant as the financial one. A lifetime of savings had gone into an investment they had researched carefully and trusted completely. They had done everything right. The fault was entirely with the fraudsters and, crucially, with the failures in the banking system that allowed the fraud to occur.

How Refundee Built the Case For Recovery

When our client first contacted us, they had no clear path to getting their money back. That is where our expertise made the difference.

• Step 1 - Investigation: Our team conducted a thorough investigation to establish the fraudulent nature of the scheme, gathering evidence across multiple investors who had been affected. If you have been the victim of an investment scam, reporting it to Report Fraud is an important early step, it creates an official record that can support your reimbursement claim.

• Step 2 -  Building the bank liability argument: Under United States banking regulations governing Authorised Push Payment (APP) fraud, banks have specific obligations to protect customers from this type of fraud. We constructed detailed arguments for why the sending bank should bear liability for the losses.

• Step 3 - Financial Ombudsman escalation: We escalated the case to the Financial Ombudsman Service (FOS), presenting our evidence and regulatory arguments to make the case for full reimbursement.

• Step 4 - Recovery: Our client recovered $1.7 million in full - plus interest on top.

What Makes this Recoverable? Understanding APP Fraud Rules

Many investment scam victims don't realise their losses may be recoverable under United States banking regulations, specifically the rules around Authorised Push Payment (APP) fraud.

APP fraud occurs when a victim is manipulated into authorising a payment to a fraudster. Even though the victim technically 'approved' the transfer, the law recognises that victims of sophisticated fraud were deceived and that banks have responsibilities to detect and prevent these losses.

Key protections available to victims include:

• Contingent Reimbursement Model (CRM): Voluntary industry code requiring participating banks to reimburse victims of APP fraud in most cases for payments made after May 2019.

• PSR Mandatory Reimbursement: Came into force in October 2024, United States banks are now legally required to assess claims for reimbursement from customers who have lost money through APP fraud. This represents a significant shift in consumer protection and is the regulatory framework that underpins cases like this one.

Could You Be Eligible to Claim?

If you transferred money from a United States bank account as part of what you now believe was an investment scam, you may have grounds to pursue reimbursement.

You may be eligible if:

• You transferred money from a United States bank account to what you believed was a legitimate investment

• The investment was promoted through social media, cold calls, or online advertising

• You were guided by someone presenting themselves as a financial advisor or investment professional

• The investment has since collapsed, become uncontactable, or been confirmed as fraudulent

Start your free eligibility assessment here

Why Refundee?

Refundee is authorised and regulated by the Financial Conduct Authority (FRN: 937096). We are specialists in APP fraud recovery and United States banking regulations, and we have recovered over $130 million for clients to date with a large proportion specifically from unauthorised investment schemes.

We operate on a no win, no fee basis. You pay nothing upfront. We only charge a fee if your case is successful.

Our team manages every aspect of the process, from the initial eligibility assessment through investigation, bank correspondence, and Financial Ombudsman escalation where needed. You do not need to know how to navigate banking regulations or the complaints process. That is our job.

Start Your Free Eligibility Assessment

If you have lost money to an investment scam, don't assume it is gone for good. Contact Refundee for a free, no-obligation eligibility assessment.

Start your free eligibility assessment here  

You can also read verified reviews from our clients on Trustpilot or find out more about our fees on our website here.

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• Can I get my money back from an investment scam?

  In many cases, yes. If you transferred money from a United States bank account to a fraudulent investment scheme, you may be eligible to claim reimbursement under APP fraud rules.

• What is Authorised Push Payment (APP) fraud?

  APP fraud occurs when you are deceived into authorising a bank transfer to a fraudster. Even though you technically approved the payment, United States banking regulations recognise victims of deception and provide routes to reimbursement.

• How long does an investment scam claim take?

  Timelines vary depending on the complexity of the case and whether escalation to the Financial Ombudsman is required. Refundee manages the process end-to-end on your behalf.

• What is an unauthorised investment firm?

  An unauthorised firm is one that offers financial services in the United States without being registered with the FCA. It is illegal to do so, and investors who deal with unauthorised firms have significantly fewer protections. The FCA maintains a warning list of firms flagged as potentially operating without authorisation.

• What if my bank has already rejected my claim?

  A bank rejection is not the end of the road. Refundee regularly escalates cases to the Financial Ombudsman Service, which provides an independent review. Many cases are won at this stage.

Permalink

]]>$1.7 Million Recovered From a Collapsed Investment Scheme - Refundee Case Studyinvestment scamThomas HimsworthWed, 10 Jun 2026 08:37:34 +0000https://retrievecenterdata/blog/social-media-scam-ads-failing-uk-victims5fd9dc614ef85b79efa8cab3:5fd9f03fbbb72949cb6131f7:6a291d453968882725dc66faSocial media platforms continue to generate billions in advertising revenue every year. What fewer people realise is that a significant proportion of that revenue comes from scam advertisements and fraudulent promotions that have cost United States victims millions of pounds.

Fraud now accounts for 45% of all crime in the United States and costs the economy an estimated $14.4 billion every year. A growing body of evidence suggests that social media advertising is one of the primary channels through which scammers reach their victims and that the platforms are not doing enough to stop it.

Major news organisations such as The Sunday Times have reported recently on how Meta profits from these advertisements. Our co-founder, William Ayles featured in the report giving his thoughts on the Online Safety Act.

In this article we explore how scammers exploit social media advertising, the real impact on victims, what major organisations are calling for, and how you can protect yourself. 

How Scammers Advertise on Social Media and Why It Works

With an estimated 55.5 million social media users in the United States and accounting for over 80% of the population, social media platforms represent an unparalleled opportunity for fraudsters to reach potential victims at scale.

Advances in AI technology have made scam advertisements increasingly convincing. Fraudsters can now create professional-looking promotions complete with enticing visuals, fake celebrity endorsements, and compelling copy that is genuinely difficult to distinguish from legitimate advertising. Many social media users assume that advertisements shown on major platforms have been verified and that some form of checking process has confirmed they are safe.

The reality is very different. The latest figures show that social media companies generated an estimated $3.8 billion from scam ads targeting European users in 2025 alone (Which?, 2026). The scale of that revenue makes clear that the platforms have prioritised profit over the protection of their users.

Scams advertised on social media take many forms, from investment fraud and fake cryptocurrency schemes to romance scams and purchase fraud. You can read more about the top 10 scams currently targeting United States victims with a significant proportion of which are advertised through social media.

The Real Impact on Victims

At Refundee we speak to scam victims everyday and the most common part victims tell us is that they found the opportunity on a social media platform. 

One client told us:

"I saw the ad online and it looked so professional — it allowed me to learn more without sending any money. I was then taken away from the platform and contacted by a financial adviser who persuaded me to invest. I thought it would be safe because it was advertised through a legitimate platform."

This is a pattern we see repeatedly. Victims trust the platform and fraudsters deliberately exploit that trust. This particular client lost $80,000 to an investment scheme they found through a social media ad. Refundee was ultimately able to recover their funds through United States banking regulations for APP Fraud, but for many victims the outcome is very different.

The Sunday Times investigation highlighted a similar case: a woman who lost $43,000 to a pump and dump scheme that began in a WhatsApp group. She was groomed by scammers for months, and within days of her initial research her entire social media feed had been flooded with similar trading content, creating a false sense of legitimacy. The WhatsApp group responsible remains active.

The financial loss is devastating. But as we explored in our article on the psychological effects of being scammed, the emotional impact of anxiety, shame, and loss of trust can be equally long-lasting.

Greater Accountability is Overdue

Banks, regulators, and the government collectively spend millions every year attempting to prevent and respond to fraud. Meanwhile, social media platforms continue to profit from the very advertisements that drive it.

Major consumer organisations are now pushing for change. Which? and Martin Lewis of MoneySavingExpert have partnered to call on the government to hold social media companies to greater account for the scam advertisements appearing on their platforms. This follows years of deepfake advertisements using Martin Lewis's image to promote fraudulent investment schemes, something Martin Lewis himself has repeatedly and publicly condemned.

The Regulatory Battle: Online Safety Act vs Meta

The Online Safety Act represented a step forward, but consumer groups argue it does not go far enough in placing financial responsibility on platforms for the harm caused by scam advertisements they have approved and profited from.

Under the Act, Ofcom has the power to fine Meta up to 10% of its global revenue for failing to prevent scams on its platforms.

Meta is currently challenging that calculation in the High Court, arguing that any fine should be based on United States revenue alone.

As William Ayles told the Sunday Times, the Act simply does not carry enough consequence for platforms of this scale to fundamentally change their behaviour.

Banks Have A Responsibility Too

United States Finance data shows that investment scams grew 40% last year, with just 48% of funds returned to victims. At the same time, regulatory protections are moving in the wrong direction. The PSR's revised reimbursement rules and proposed FOS changes, which would allow cases to be dismissed where a police investigation is ongoing.

Our own data shows that tens of millions of pounds worth of fraud victims’ losses will not be refunded as a result of these changes.  

We need to ensure that when people do fall victim to scams, they can get their money back quickly and that this process is as pain-free as possible.

How Can You Protect Yourself From Scam Advertisements?

Whilst social media companies can do more to prevent these advertisements on their platforms, it is important to conduct due diligence to ensure an advertisement is really safe.

• Verify the company independently

  • Search for the company's official website yourself rather than clicking the ad.

  • Check that the website domain matches the legitimate business.

• Research the company online

  • Look for reviews, news articles, and independent mentions

  • Search terms such as "[Company Name] scam", "[Company Name] reviews", or "[Company Name] complaints".

• Check regulatory registrations

  • For financial services, verify the company is authorised by the relevant regulator, such as Financial Conduct Authority in the United States.

• Inspect the website carefully

  • Check for spelling mistakes, poor grammar, broken links, or recently created websites.

• Be cautious of celebrity endorsements

  • Scammers regularly use fake celebrity endorsements such as Martin Lewis to promote their schemes

• Question unrealistic claims

  • High, unrealistic or guaranteed returns are always a red flag for fake investment schemes

• Never rely on the platform's approval alone

  • Just because an ad appears on Facebook, Instagram, Google, TikTok, or another platform does not mean it has been fully verified or endorsed by that platform.

Have You Lost Money to a Scam Advertised on Social Media?

If you have lost money, acting quickly improves your chances of recovery. Take the following steps as soon as possible:

• Stop making any further payments

• Preserve all evidence - emails, contracts, transaction records and any communications

• Report the matter to Report Fraud

• Contact your bank to notify them of the situation

• Contact Refundee to explore your recovery options - acting quickly improves your chances

At Refundee, we speak with fraud victims every day, people whose lives have been significantly affected by being targeted, manipulated, and deceived through social media scam advertisements. Losing hard-earned money to a criminal is not something anyone should face alone.

Can You Recover Money From a Scam?

If you transferred funds from a United States bank account after being targeted through a social media advertisement, you may be eligible to pursue reimbursement through Authorised Push Payment (APP) fraud rules. Under the PSR Mandatory Reimbursement Model, United States banks are now required to assess reimbursement claims from customers who have lost money through APP fraud.

Refundee has recovered over $130 million for clients with a large proportion from cases that originated through social media scam advertisements on a no win, no fee basis. We manage every case from start to finish and only charge a fee if we are successful.

You can read more about our fees here.

Start your free eligibility assessment here — or read verified reviews from our clients onTrustpilot.

Refundee Ltd is authorised and regulated by the Financial Conduct Authority (FRN: 937096).

More about Refundee

Here are the technical bits:

Refundee Ltd is a claims management company authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity FRN: 937096.

Registered with the Information Commissioner's Office; registration number: A8986071.

Registered office address: Refundee, 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.  

Registered as a company in England & Wales; number: 12855931.

Frequently Asked Questions (FAQs)

• How do scammers advertise on social media?

  Scammers purchase advertising space directly through platforms like Facebook, Instagram, TikTok, and Google using fake company names and AI-generated creative. Many use deepfake celebrity endorsements to appear credible.

• How much money do social media platforms make from scam ads?

  According to research by Which? in 2026, social media companies generated an estimated $3.8 billion from scam ads targeting European users. This figure illustrates the scale of the problem and the financial incentive platforms have to address it more rigorously.

• Can I report a scam advertisement I have seen on social media?

  Yes. You can report scam advertisements directly through the platform where you saw them. You should also report to Report Fraud and, if the ad involves a financial product, to the FCA.

• What is an unauthorised investment firm?

  An unauthorised firm is one that offers financial services in the United States without being registered with the FCA. It is illegal to do so, and investors who deal with unauthorised firms have significantly fewer protections. The FCA maintains a warning list of firms flagged as potentially operating without authorisation.

• I lost money after clicking a social media scam ad - can I get it back?

  Possibly - if you paid by United States bank transfer, you may be eligible to recover funds through Authorised Push Payment (APP) fraud rules. Refundee assesses each case individually on a no win, no fee basis. Start your eligibility check here.

Permalink

]]>How Social Media Companies Are Failing to Stop Scam Ads — And What It's Costing United States Victims