Before you send money

Check the firm on the Firm Checker. The firm reference number and the contact details you were given should match.

If the Checker has no contact details, or the firm says they are out of date, call 0800 111 6768. Use the address on the Checker, not a link in an email or on a company website.

A firm offering crypto in the UK must be registered with the FCA, or have permission to promote it. If you cannot find the firm, it is unlikely to have that permission. The FCA says avoid the firm. Check which activities a registered firm is allowed to do.

Being on the register does not mean a complaint can go to the Financial Ombudsman Service, and it does not mean the Financial Services Compensation Scheme will cover a loss if the firm goes out of business.

Be wary of a contact out of the blue, of pressure to invest quickly, or of a promise that sounds too good to be true. If a financial business contacts you unexpectedly, reply only using the details on the Firm Checker.

Most crypto activity in the UK is not regulated. If the risk warning is missing and you are offered an incentive to join, the firm is not following the FCA's rules. The FCA says that could be illegal, or even a scam. Be prepared to lose all the money.

Early investors may make money. People who invest later usually lose theirs.

After a fraud, or after an investment that failed, someone may offer to get the money back if you pay a fee first. The charge may be called a tax, a solicitor's fee, or an admin fee. They may pretend to be the FCA, or claim to work with the Government, the police or another regulator.

If you are asked to pay, or to hand over a bank account, a card or other financial details, end the contact. Do not pay, and do not hand the details over.

A fraud report can be shared between law enforcement. It cannot be shared with a private recovery business. The people behind the first approach may call again, or they may sell your details. The second loss can be larger than the first.

If you are worried about a possible fraud, or think someone has contacted you to defraud you, report it to the FCA on 0800 111 6768 or through its contact form.

If the matter is outside what the FCA regulates, or you have lost money, contact Report Fraud on 0300 123 2040, or on the website the FCA links.

If you have lost money, contact Report Fraud and then the FCA. The FCA cannot get the money back for you.