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recovery-room-scams

Recovery Room Scams

Victims of investment scams are increasingly vulnerable to other investment scams, follow-up scams and recovery room fraud.

The perpetrators of these scams are in possession of your details and even when they have been stopped and closed, down your details may have already been shared and re-used by numerous scammers. Once you have made an initial ‘investment’, you are classed as a potential repeat target and the web of scammers will stop at nothing if they think they can steal more of your money.

The risks

- Investments in carbon credits and rare earth metals, for example, require an exit route in order for you to make money on your investment. The next step of the scam will be to help recover your investment (the exit route). Upfront payments will be required to help release/sell your investment, but you will see nothing for your payment.

- Even when ‎scams undertaken by corporate entities are identified, investigated and wound up in the public interest, fraudsters still see opportunities. For example, they may try to impersonate the liquidators or say they represent the liquidators and seek upfront payment (plus tax) from you to either sell or release and return your investment to you. Contact can be made via telephone, email or mail. Some fraudsters will masquerade as legitimate companies to add further legitimacy to their scam.

Protect yourself from recovery room scams

- Do not part with any money. The real Liquidator’s details can be found on the London Gazette or through Companies House.

- If you have lost money from a company in liquidation and are approached to pay a fee or a tax to release your ‘found’ investment always revert back to the Liquidator and report your concerns to Action Fraud.

www.thegazette.co.uk

www.beta.companieshouse.gov.uk

If you have fallen victim to a recovery room scam

Do not be ashamed, fraudsters are often intelligent people or large, highly skilled organised crime racketeers. The most important thing is to report the scam to help prevent it happening to others and to put a stop to the fraudsters. Always report it to Action Fraud, the UK’s national fraud reporting centre by calling 0300 123 20 40 or by visitng www.actionfraud.police.uk

More information

http://www.grantthornton.co.uk/en/insights/investment-scams---asset-tracing--recovering-money/

         This page has been compiled with the kind assistance of Grant Thornton