This page describes a real fraud type affecting SWIFT wire transfer users. If you believe you have been targeted, do not send money and contact your bank immediately. Verify any SWIFT payment free using the UETR tracker at the bottom of this page.
Wire Fraud Recovery Scams
Wire fraud recovery scams target people who have already lost money to a SWIFT wire fraud, BEC attack or advance fee scam. A fake "fund recovery specialist", "asset recovery company" or even someone posing as a law enforcement officer contacts the victim and promises to recover the lost funds — for an upfront fee or percentage. This is fraud layered on top of fraud, and victims can lose further significant sums.
How This Fraud Works
The victim loses money to a wire fraud and, in desperation, searches online for "SWIFT wire fraud recovery" or similar terms.
A fake recovery company — with a professional website, fake testimonials and sometimes impersonating a genuine law firm or government agency — contacts them.
They claim to have special connections with SWIFT, Interpol, or the receiving bank and guarantee recovery for an upfront fee or retainer.
The victim pays the fee. The "recovery company" then demands additional fees for "legal processing", "bank release", or "tax clearance". No money is ever recovered.
Red Flags — Warning Signs
Any company that guarantees to recover funds from a completed wire transfer.
Requests for an upfront fee before starting recovery work.
Claims of special connections with SWIFT, Interpol, or central banks.
Testimonials and case studies on the website that cannot be verified.
Contact arrives unsolicited — scammers often scrape victim forums and fraud-reporting sites to find new targets.
Requests for remote access to your computer.
How to Verify Before Acting
Check if the company is registered with relevant professional regulators (e.g. FCA in UK, SEC in US for investment recovery, relevant bar association for lawyers).
Search the company name plus "scam" or "review" online.
Legitimate asset recovery lawyers work on a contingency (no win, no fee) basis or transparent fixed fee — no guarantee of recovery.
SWIFT does not have a "fund recovery service" — be sceptical of anyone claiming to work with SWIFT to recover funds.
What To Do If You Are Targeted
Contact your bank directly using official contact details from their website.
File a report with your national fraud authority — they track recovery scam operations.
Consult a regulated solicitor or attorney if you believe legal recovery action is viable.
Check the UETR status on Ohmyfin to understand where the money is in the payment chain — this may inform genuine recovery options.
Verify Any SWIFT Payment — Free in 30 Seconds
Paste the 36-character UETR from any MT103 or payment confirmation. If the payment is real, Ohmyfin shows the live SWIFT GPI status. If it's fake, it shows "not found". Free for individuals.
Can I recover funds from a completed SWIFT wire fraud?
Genuine recovery is difficult but not impossible. If acted on quickly (within 24 hours), your bank can file a recall under SWIFT's MT n92 / camt.056 mechanism. Law enforcement can also freeze accounts in some jurisdictions. A regulated solicitor with experience in asset tracing is the legitimate route — not an unsolicited "recovery company".
Does SWIFT have a fund recovery service?
No. SWIFT (the Society for Worldwide Interbank Financial Telecommunication) does not operate a fund recovery service, does not contact individuals, and does not require fees of any kind from payment recipients or senders. Anyone claiming to be "from SWIFT" offering to recover funds is a fraudster.
How do I report a fake recovery company?
In the UK: Action Fraud and the FCA (if they claim to be a financial service). In the US: IC3 (FBI) and the FTC. In the EU: national financial intelligence units. Also report to the platform (website host, social media) they use to operate.