scam brokersAmong the red flags regulators highlighted in 2026 — including in FinCEN’s scam-centre alert — are ‘recovery’ services: operations that promise to get back money lost to a previous scam. For many victims, this becomes a devastating second fraud.
How recovery scams work
Recovery scammers often target people who have already been defrauded — sometimes using victim lists sold between criminal groups. They pose as ‘asset recovery specialists’, law firms, or even government agencies, claim they can trace and return your funds, and then demand upfront fees, ‘taxes’ or ‘deposits’ to release the money. Nothing is ever recovered.
Warning signs of a recovery scam
- Unsolicited contact offering to recover money you lost
- Upfront fees, ‘release taxes’ or ‘deposits’ required before any recovery
- Claims of a special relationship with banks, exchanges or regulators
- Pressure and secrecy, or a guarantee that funds will be returned
What legitimate recovery looks like
Genuine routes are slow and rarely guaranteed: reporting to police and the relevant regulator, notifying your bank or card provider, and seeking qualified legal advice. Be extremely wary of anyone who guarantees results for a fee. Our guide on getting money back from a forex scam explains the legitimate steps.
This article summarises publicly reported regulatory actions and news for educational and consumer-awareness purposes. Details are based on statements from regulators and press reports at the time of writing; always verify the current status of any firm directly with the relevant regulator before making decisions.
