How to tell a real investigator from a recovery scam

Losing money to a scam is painful, and the urge to get it back is completely understandable. Unfortunately, criminals know this too. Lists of fraud victims are shared and sold, and many people who have just lost money are contacted within days by someone promising to recover it.

These ‘recovery services’ are often run by the same networks behind the original fraud. They use the details they already have about you to sound credible — and then ask for an upfront fee, a ‘tax’ or access to your accounts.

• They contacted you first — by phone, social media, email or a comment under your post.
• They guarantee your money back, or quote a high ‘success rate’.
• They ask for payment in cryptocurrency, gift cards or to a personal account.
• They claim to work with, or be, the police, a regulator or a government agency — but want you to pay them directly.
• They ask for your passwords, private keys, seed phrase or remote access to your computer.
• They create urgency: ‘pay today or the funds will be lost for good’.
• They can’t explain, in plain language, how they will actually find your money.

A genuine investigator will be cautious about what they promise. Tracing can show where money went; whether it can be recovered depends on exchanges, banks, courts and law enforcement — not on the investigator alone.

• They explain their method and its limits before you pay.
• They agree scope and cost in writing.
• They only need public information such as transaction IDs and addresses.
• They produce a report you can give to the police, your bank or a lawyer.
• They are comfortable with your lawyer reviewing the engagement.

1. Who exactly are you, and where are you registered?
2. What will you do, step by step, and what will I receive at the end?
3. What can’t you do? What are the limits of this work?
4. How is the fee calculated, and is it agreed in writing?
5. Will you ever need access to my accounts or wallet? (The answer should be no.)

If the answers are vague, pressured or too good to be true, walk away — and report the contact to your local police or national fraud reporting service.