Lesson 6 of 7 · 9 min
If you have been scammed: what to do next
The steps to take, in order, after a forex scam, which payments may be recoverable, where to report it, and how to recognise the recovery scam that usually follows.
By the end you'll be able to
- Take the first steps after a scam in a sensible order
- Judge which kinds of payment may be recoverable and which usually are not
- Recognise a "fund recovery" offer as a second scam
Free course
Enrol in “Protect Yourself: Scams, Signals and Fake Brokers” to start this lesson
Enrolling is free. Your progress, quiz scores and certificate are kept in your account, on every device.
- 7 short lessons with quizzes and interactive tools
- Lesson videos for members
- A certificate when you finish
Your withdrawal has been “pending” for three weeks and the support chat now wants a fee to release it. The next few days decide how much evidence you keep and whether your bank can still act.
Six steps, in order
Stage 1 of 6
Stop paying
Send nothing more, whatever the reason given: tax, fees, a “last step”. Each new payment is lost with the rest.
The check that stops it: Any request to pay before you can withdraw confirms the scam.
Stage 2 of 6
Keep the evidence
Screenshot the site, the chats, the account and the payment receipts, with dates. Save the web address, wallet addresses and the names on receiving accounts and cards.
The check that stops it: Do it before the site or the chat disappears, often within days.
Stage 3 of 6
Call your bank
Say it was a scam and ask what can be done: a card chargeback, a fraud claim, or a block on the receiving account. Speed matters.
The check that stops it: Card payments can often be disputed for a limited time. Crypto transfers usually cannot be reversed.
Stage 4 of 6
Secure your accounts
Change any password you shared, remove any remote-access app they asked you to install, and turn on two-step sign-in for email and banking.
The check that stops it: If they had access to your device, assume they saw what was on it.
Stage 5 of 6
Report it
Report to the police cyber-crime unit and to the regulator whose name the firm used. A report helps others even when your money cannot be returned.
The check that stops it: Use the regulator’s own website, reached by typing its address.
Stage 6 of 6
Ignore recovery offers
Expect calls or messages offering to get your money back for a fee. Victims’ details are sold and reused.
The check that stops it: Regulators, police and banks do not charge to help you. Anyone asking for a fee in advance is the next scam.
General steps in a sensible order, not legal advice. Tap a step for what it involves.
Stopping payment comes first because every request after this point is designed to take more. Evidence comes next because sites and chat accounts disappear quickly. Then speed matters for your bank.
A chargeback is your card issuer’s process for reversing a disputed card payment. Card schemes set time limits, often a few months from the payment, so ask straight away. For bank transfers, some countries now require banks to refund many scam victims: in the UK, rules introduced in 2024 cover many bank-transfer scams up to a limit. Crypto transfers are rarely reversible, but report the receiving wallet address to the exchange you sent from and to the police.
Where to report
- The police. In the UK, Action Fraud (England, Wales and Northern Ireland); in Iran, the FATA cyber police; elsewhere, the national police cyber-crime unit.
- The regulator whose name was used, and your own country’s financial regulator. The FCA, for example, has an online form for reporting scam and clone firms.
- The platform where you were contacted. Reporting the account or channel on Telegram or Instagram can slow down the next victim.
If the firm really was authorised and failed or treated you unfairly, the regulator’s complaints and compensation routes may apply; our check-a-broker page lists them. For an unlicensed scam, the bank and the police are the main routes.
The recovery scam
Victims’ details are sold and reused, so a message offering to recover your money often arrives within weeks. It may claim to be a law firm, a “blockchain tracing” service or even a regulator. It may know exactly how much you lost. It nearly always wants a fee first, sometimes asks you to install a remote-access app, and sets a deadline. Regulators, police and banks do not charge victims and do not cold-call to offer recovery. If you want a lawyer, find one yourself and check their registration.
Try it
Tap every line you think is a warning sign.
Warning signs found: 0 of 6
A made-up example. Names, numbers and web addresses are fictional; patterns like these are common in real scams.
The email sounds helpful and mentions real organisations. Look for the lines that ask you to pay, install something or hurry.
Quick check
Quick check
Question 1 of 4
The platform says one last fee will release your withdrawal. What do you do first?
Question 2 of 4
Which payment method usually gives the best chance of getting money back?
Question 3 of 4
A firm emails saying it works with the regulator and can recover your funds for a $450 fee in USDT. This is:
Question 4 of 4
Who should you report a forex scam to?
Go deeper: Forex broker scams: 9 red flags and how to check a licence · Forex withdrawal: how to get your money out · How to check a broker before you deposit