What to Do If You've Already Sent Money to a Suspected Fraudulent Investment

If you have already transferred money to an investment that you now suspect is fraudulent, or if you have concerns about an operator with a history like that documented in these pages, act immediately. Time is critical. Here is what to do.

Step 1: Contact Your Bank Immediately

Call your bank's fraud line the moment you believe a transfer may have been made to a fraudulent investment. Ask them to initiate a recall or reversal of any recent transfers. Banks have protocols for fraud recall, and speed is critical — funds can be moved offshore within hours.

Even if a recall is not possible, your bank will create a record of the complaint that may be valuable in subsequent legal proceedings.

Step 2: Lodge a Police Report

If the operator or the company you paid is Australian — even if the promoter is now based overseas — Australian police have jurisdiction. Lodge a formal complaint with the police fraud squad in the state where you made the investment or where the company is registered.

• Queensland: QPS Economic Crime Command — 131 444
• NSW: NSW Police Fraud Squad
• Victoria: Victoria Police Cybercrime Division
• AFP: Australian Federal Police ReportCyber — cyber.gov.au

Do not assume police will not act because the individual is now in Thailand. If you paid an Australian company, police have jurisdiction over that company and can investigate.

Step 3: Report to ASIC and ACCC/Scamwatch

• ASIC: asic.gov.au — Report misconduct about a financial services provider
• Scamwatch: scamwatch.gov.au — Report the investment scam
• AFCA: afca.org.au — If the operator claimed to hold an Australian Financial Services Licence

Step 4: Gather and Preserve All Documentation

Before taking any further action, gather and secure copies of everything:

• All emails, WhatsApp messages, and written communications
• Bank transfer receipts and account details
• Promotional materials, websites (screenshot them — they disappear), and videos
• Any contracts, agreements, or term sheets
• Notes of any telephone or in-person conversations

Do not delete anything. This material will be essential for police, regulators, and any subsequent legal proceedings.

Step 5: Seek Independent Legal Advice

Contact an Australian solicitor with experience in fraud recovery or consumer law. Many offer free initial consultations. The Law Society in your state can provide referrals.

Do not seek legal advice from a lawyer recommended by the person you suspect of fraud.

Managing the Emotional Impact

Investment fraud is profoundly distressing. It is not a reflection of your intelligence. These operators are experienced, often charming, and specifically trained to overcome your protective instincts. If you are struggling, contact Beyond Blue on 1300 22 4636 or Lifeline on 13 11 14.