VERDICT: VERIFIED (V5)
Losing money to fraud can create another vulnerability: somebody offering to get it back.
CLAIM
Fraudsters are impersonating the Financial Conduct Authority and telling previous fraud victims that money has been recovered, before trying to take further money or sensitive banking information.
EVIDENCE
The FCA said it received 4,465 reports of fake-FCA scams during the first six months of 2025. It recorded 480 people who had been duped into sending money. Almost two-thirds of reports came from people aged 56 or over.
The regulator identified a common method in which fraudsters claimed the FCA had recovered funds from a cryptocurrency wallet opened illegally in the consumer’s name. It also identified approaches to previous loan-scam victims claiming the FCA could recover their losses, followed by attempts to obtain further funds. A separate reported variant falsely claimed that creditors had obtained a County Court Judgment and that money was owed to the FCA.
TEST
The figures come directly from the FCA. They cover fake-FCA scams generally, not only the recovered-money variant. TVD therefore does not attribute all 4,465 reports or all 480 payments to recovery fraud.
VERDICT
V5 — Verified.
How to prevent it
- Do not send money because an unexpected caller says the FCA has recovered previous losses.
- The FCA says it will never ask you to transfer money to it or provide bank PINs or passwords.
- End the contact and reach the FCA independently through its official contact details.
- If you have previously been defrauded, be particularly cautious of unsolicited recovery offers.
Warning signs
- An unexpected caller says the FCA has recovered money for you.
- You are asked to pay a fee, tax or release payment before receiving recovered funds.
- The contact asks for PINs, passwords or a transfer of money.
What to do if you responded
Stop contact, contact your bank immediately if you paid or disclosed banking information, and independently contact the FCA using its official details. Preserve the telephone number, emails, payment details and any names used.
Where to report it
Report FCA impersonation to the FCA and report any fraud through the appropriate official fraud-reporting route. See Fraud First Aid for urgent steps after a payment or disclosure.
Source: Financial Conduct Authority, “Almost 5,000 fake FCA scams reported in first 6 months of 2025”, 27 August 2025.
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