Recovery scam using name of UK Authority

We are aware that a New Zealand resident has been contacted by individuals claiming to represent the UK’s Financial Conduct Authority (FCA) and offering assistance to recover money lost in a previous scam.

The email address used is different to the email domains used by the FCA. The FCA advises on its website that they send emails from addresses ending in:

• fca.org.uk
• fcanewsletters.org.uk
• fcamails.org.uk

[Updated 8 August 2024]: Recent reports have revealed more about the tactics used by these FCA impersonators. Victims tend to receive an email saying that the FCA has recovered their lost funds, but in the form of cryptocurrency.

If the victim responds, the impersonators then instruct them to set up a cryptocurrency wallet. The impersonators then ask the victim to deposit some money into the new wallet, saying this will help release their lost funds.

The impersonators will then take these funds out of the victim's cryptocurrency wallet.

Scammers will sometimes use other tactics to extract even more money from their targets. After a victim deposits cryptocurrency and the first stage of the scam is complete, the scammers move on to impersonate other regulators.

We have received a report of one of the scammers purporting to be from the New Zealand Financial Markets Authority (FMA). A victim was told that a money transfer had been suspended and more payment was needed before funds could be released.

However, no money is returned, no matter how many payments the victim makes to the scammers.

We remain concerned that this is a recovery scam using the name of the FCA and the FMA. We recommend caution when dealing with anyone claiming to be from financial regulators or authorities offering to help recover money.

Email: [email protected]; [email protected];  [email protected]; [email protected]