Money recovery company: double scam?

As you know, there are more and more online scams: financial investment scams including forex, insurance scams, catfishing, etc. Now a new form of scam has arised: fake money recovery companies. In this article, Financial Fraud Lawyers, a network of lawyers specialising in trading platform scams, wishes to warn you about these so-called law firms or agents of public bodies.

What to do in case of financial disputes?

In case you feel or you are certain that you have suffered a financial scam, it is normal to want your money back. That is why you often do a search on the web. You may then see these types of ads appear:

But how do you know which one is the best place to help you? Also, how could you know that another scam is possible. Indeed, once you have been scammed, you think that it is over. However, more and more companies are posing as money collectors following scams, but this is also a scam.

This scam, which calls itself a lost money recovery scam or a promise of a refund, is ruthless. They know that you have already lost money in order to get more.

So what do you do if you have a financial dispute? If we take the example of a financial scam on Forex trading platforms, then you should recognise at least one of the following types of fraudulent manipulation:

  • The broker is trying to establish a “friendly” relationship
  • You are dependent on the advice of the account manager
  • Promises of profits, bonuses and/or gifts
  • Artificial emergency situations
  • Commercial pressure i.e. re- investing money
  • Unable to withdraw your funds

If at least one of these situations has happened to you, then you can consider that you have suffered a financial scam. You should then find out more about the Autorité des Marchés Financiers (AMF) to find out what has happened to you. Note that you are not alone in this kind of situation, and that you should talk to your family.

Afterwards, we advise you to contact a lawyer specialising in scams if you wish to lodge a complaint, as he or she will have all the knowledge you need to have a chance of recovering your funds.

Note that recovering your funds is not a simple matter, and is done on a case by case basis. Indeed, depending on whether the broker has a licence in France, or how the account manager has behaved with you, the procedure and actions may be different. To find out if you are dealing with a real lawyer and not a scammer, we advise you to read on.

How to recognise possible recovery scams?

In order to find the right recovery lawyer for you, you need to be aware that it is unlikely that you will recover the exact amount of your loss. Indeed, it is a long process, and a real lawyer has to make a thorough analysis of your situation before he can represent you.

As we said before, to find a lawyer, you will probably use your search engine for a lawyer specialised in the scam you have suffered. If we stay with the same example, i.e. trading platform scams. You can then search for keywords such as “trading lawyers”, “forex scam” etc. As a result, you will find a number of money recovery companies, and very few lawyers.

When you click on one of the advertisements, you should be careful of websites that are entirely in English, as this may be a sign of fraud. If a lawyer wants to help you, for example, they will do what is necessary to speak in your language. For example, if we take the example of Payback LTD, their site is in English. Also, you are told directly that you can get your money back through their actions. This can be a sign of deception, because they have not even analysed your case beforehand. They don’t know if it is possible to help you.


Moreover, we continue to analyse the website. You can read the reviews on Trustpilot. Although we note some good reviews, we also note some surprisingly negative reviews.


As trading scam lawyers, we advise you to beware of this type of malicious companies whose sole purpose is to take money from you. You should also beware of companies that we believe are offering legal services without being authorised to do so.

Why you should trust us?

Following these different points, you are probably wondering why you should trust us. First of all, we are a law firm specialised in the defence of your interests, i.e. traders who have invested in regulated markets such as Forex. Our lawyers have extensive knowledge of financial and European law and we can represent you throughout Europe. You can view our network of lawyers and their knowledge here. We have also successfully represented European clients in the recovery of their lost funds through out-of-court proceedings.

Secondly, we are here to tell you the truth and be completely transparent with you. We will try to help you recover your funds. We cannot guarantee this 100%, but when we agree to represent you, after analysing your situation, we consider that your chances of recovering your funds are positive.

To recover the money you have invested, we operate in the following cases:

  • Non-European residents against EU regulated brokers.
  • European residents against EU regulated brokers.
  • European residents against brokers regulated outside the European regulatory framework.

In addition, the dispute must not be older than 5 years and the dispute amount must not be less than USD/EUR 30,000.

Finally, we advise you to read our articles about our clients and different brokers. For example, the case between 1Market and our client.

To conclude, we advise you to remain vigilant even after a scam, because it is possible that your data will be reused for commercial purposes and thus you can be scammed again.

Also, beware of companies that in our opinion offer legal services without being authorised to do so such as Payback, Broker Defense, etc. Make sure you check the legal permissions for example.

If you feel that your broker is liable for your losses, please contact us and we will provide you with a free preliminary analysis of the case.


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