Funds Recovery Review – Be Careful With The Scam!


Funds Recovery Review: How Recovery Room Scams Work?

Recovery room scams are usually a follow-up to boiler rooms, or any other investment scam in which a consumer lost money. The original scammers may run the recovery room, contact the victim and pretend to be from another firm or sell their details to others recovery rooms. Cold calling and high-pressure tactics are used to scam victims. Upfront charges, such as solicitor fees or administrative costs, can also be charged.

Recovery rooms have websites that look professional to convince visitors they’re legitimate. They may even claim to be based in the UK when they are not. These websites make false claims that they have recovered money from scam victims.

Recovery rooms use an email address that is web-based, like gmail, Yahoo or Hotmail, or a Russian search engine called yandex. The FCA, the Government or any law firm will never use webmail to contact consumers.

Funds Recovery Review – Masters of Scamming

Funds Recovery, for example, contacts victims they’ve already been scammed and claims to work with the law enforcement. They claim they can help recover their money. You may have thought that telemarketing scammers could not go any lower. Some telemarketers will re-contact victims to scam them even more money. The “recovery-room” scam occurs after a telemarketing fraud has been committed.

After the initial telemarketing fraud has taken the majority of the victims’ money, the victims become desperate to recover their money. The victims feel embarrassed and foolish. This situation is frustrating. They are afraid to tell the authorities what happened. This is where the “recovery room” scammers step in to save the day.

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The Crooks Claims to Be Recovery Specialists

Scammers from the “recovery rooms” call the victim pretending to be a representative of an organization or government agency that assists scam victims, and say they can recover some of the losses. Some scammers from the recovery room pose as FBI agents, IRS agents or Customs officers. Some pretend to be lawyers from law firms, or government representatives such as the local district prosecutor’s office. The scammers could pretend to be anything, which is usually a welcome sound to the ears of victims.

Many times, the telemarketer has been involved in a fraud that the victim fell for. They are therefore aware of the details of the crime, including the amount of money the victim lost. The caller will appear to be well-informed about the victim’s situation and gain credibility. Who else would have this kind of information other than law enforcement?

Funds Recovery: Buying Time To Get Away With Your Money

They tell the victim they must pay a fee to get their money. After the customer pays the fee, the court will release their money and transfer or deliver it to them.. This nasty scheme is more than just an insult. The victim loses even more money. It’s called “double-dipping”. Then the telemarketer is able to disappear into the shadows without leaving a trace, while the victims are waiting for their money.

Warning From the FCA

The FCA released a press release regarding the operation of FundsRecovery. In the report, it is stated that “we believe this firm provided financial services or products to UK customers without our authorization.” The UK offers some of the most comprehensive consumer and investor protections in the world, and the FCA is always on the lookout for potential dangers. The FCA must authorize any organization offering financial services to UK residents. The FCA strongly warns against doing business with any financial firms that do not have this approval.

Funds Recovery states on their website they are able to advise, refer or assist any UK residents in any way. This is a very disturbing sign. An organization would act in blatant violation of the FCA regulations. It’s disconcerting to think that a major financial institution would not be allowed to operate in a country with renowned finance. The FCA states that Funs Recovery does not appear to be affiliated with UK-registered company Payback Limited and that “scammers are falsely claiming this UK-registered company’s name.”

Warning From the FSMA

The FSMA goes further than the FCA in stating that Funds Recovery is not legit. The FSMA has issued a warning stating that Funds Recovery is committing a recovery room fraud. The FSMA has reported a rise in scams over the last few months. The scam involves charging a number of advance fees to operate and then not providing any results. This type of fraud should be a big red flag for everyone to avoid this company.

Funds Recovery is accused of operating illegally by the regulator, and they have warned people against doing business with this company. The regulator also claims that Funds Recovery is a cloned company, which means that it has taken the identity of an authorized firm to deceive its clients. They warn people to avoid companies that charge advance fees or make unsolicited contacts. Online Rumors claim that Funds Recovery is a front for Pay Back Ltd.

How to Protect Yourself

Be wary if a company contacts out of the blue and claims to be recovering stolen money as a result of fraud or a failed investment. If it asks you to send money immediately or promises something that seems too good to true, be wary. Beware of websites, telephone calls, or online or social media ads that promise to help you recover money lost through investments or fraud.

Ask the caller how they know about your money. Fraud can only be reported to other law enforcement agencies. This information should never be shared with a private company operating a recovery facility. You should not give your financial information to a private company that asks for a payment or a card, or any other details.

Recovery room scams offer services that are usually provided by claim management companies. The regulators must approve a firm to advertise these services or provide them anywhere in the world. To verify that the firm has been authorised, check the FCA’s Financial Services Register. The FCA has a Warning List that lists firms to avoid.

The FCA does not inspect most firms that advertise and offer to recover funds from consumers. If you engage or pay any fees to them, you won’t have access to the Financial Ombudsman Service and the Financial Services Compensation Scheme in the event of a problem.

Chargeback Is Your Solution!

A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods.

By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some of all of their funds lost.

However, using a trustworthy service such as MyChargeBack is critical in this endeavour as a typical chargeback process can often be complex and drawn out without the right guidance.

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What Should I Do If I Become a Victim of Funds Recovery?

We understand the distress and concern you may be experiencing. Falling victim to scams can have significant financial consequences. Taking prompt action is crucial to prevent the fraudster from profiting at your expense and to work towards recovering your misappropriated funds. We strongly advise you to contact us immediately for effective assistance.

Our dedicated team of legal experts is ready and available to support individuals in your situation. You can reach out to us at any time, and we will leverage our resources to attentively listen to your concerns and provide expert guidance.

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Author: William Thompson
William Thompson

Copywriter with more than 10 years of experience. Wrote analytical content for one of the largest forex brokers in the world. Works as an editor-in-chief at



  • What Is a Funds Recovery Scam?

    A funds recovery scam is a fraudulent scheme where scammers pose as individuals or companies offering to help victims recover funds lost in previous scams or fraudulent investments. They typically target individuals who have already fallen victim to a scam and are desperate to recoup their losses.

  • How Do Funds Recovery Scams Work?

    Funds recovery scams often involve scammers reaching out to victims, claiming to be lawyers, investigators, or representatives from financial institutions. They offer their services to recover the lost funds for a fee or by requesting personal information, such as bank account details or credit card information. The scammers may use various tactics to convince victims of their legitimacy, but ultimately, they aim to deceive people into paying upfront fees or stealing their sensitive information.

  • Can I Trust a Funds Recovery Company That Contacts Me?

    It is essential to exercise caution and thoroughly research any funds recovery company that contacts you. Scammers often impersonate legitimate companies or create fake organizations to deceive victims. Verify their credentials, check for reviews or complaints online, and contact relevant authorities or consumer protection agencies to confirm their legitimacy. Additionally, be wary if the company asks for upfront fees or sensitive personal information.

  • Are All Funds Recovery Services Scams?

    Not all funds recovery services are scams, but it is crucial to approach them with caution.