Scamwatch (Australian Competition and Consumer Commission)
Investment scams
Scamwatch says to report investment scams, to call your bank straight away after a scam and to cut contact with the fake company.
When a platform will not release your money, it can be hard to tell a dispute from a scam. This page summarises what Scamwatch and the FCA publish about reporting and next steps. It does not collect or publish complaints about any named firm, and it does not assess any firm.
Report It
Scamwatch's investment scams page, published and last modified on 13 July 2026, gives a short instruction: "Report the scam to Scamwatch." The FCA says the same for UK readers: "If you think you’ve been targeted by a scam, please report it to us online." It explains why reports matter: "We look into every report we receive, and it could help protect others from fraudsters."
Protect What Is Left
Scamwatch advises: "If you've been the target of a scam, call your bank immediately to stop any further losses." It also warns about a second wave of approaches: "Cut all contact with the fake company, and be on the lookout for anyone offering to help you get your money back." The pattern is described further in recovery scam warnings and exit scam warning signs.
A Dispute With an Authorised Firm
If the firm is authorised and the problem is a dispute rather than a scam, a different route applies: complain to the firm first and then to the relevant ombudsman. The UK steps are in the broker complaint resolution process. To see how regulator alert archives differ from complaint registers, read broker complaint databases explained.
Check Before You Pay More
Scamwatch's page says the licence should be checked on the Financial Advisors Register and the Authorised Representatives Register, and notes that scammers can impersonate real licensees. For UK checks see how to check whether a broker is regulated, and for the fee pattern see withdrawal fee scam warnings.
Frequently Asked Questions
What does Scamwatch tell people to do first?
Scamwatch states: "Report the scam to Scamwatch."
What should I do about my bank?
Scamwatch advises: "If you've been the target of a scam, call your bank immediately to stop any further losses."
Should I accept offers to help recover my money?
Scamwatch says: "Cut all contact with the fake company, and be on the lookout for anyone offering to help you get your money back."
Does this page address whether an individual could face liability?
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
Sources and Official References
- Scamwatch: Investment scams (published and last modified 13 July 2026)
- FCA: Warning List of unauthorised firms (first published 2 April 2016; last updated 30 June 2026)
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.