Suspicion of investment fraud? Read this blog!

What is investment fraud?

Investment fraud is a scam in which you put money into an investment that does not exist or is not what was promised. It can involve shares, bonds, a fund or, more and more often, crypto. The provider often uses a name that closely resembles an existing Swiss or London firm.

The products and names change, but the structure is almost always the same. First comes trust and visible “profit”. Then comes pressure to invest more. Only when you try to withdraw does it turn out that the money is not coming back.

According to the AFM, the damage from investment fraud in the Netherlands probably runs into hundreds of millions of euros a year, and few victims report it (AFM press release, December 2025). More background is in our glossary under investment fraud.

How to spot investment fraud: the warning signs

The AFM lists a number of recurring signs of dubious investment offers (page in Dutch). If you recognise one or more of them, be extra careful:

• Unsolicited contact, for example a phone call after an ad on social media or a form you once filled in.
• Fast, high returns that are too good to be true.
• Pressure to decide now: the offer is only valid today or only for you.
• Well-known Dutch people in the ad, without their permission.
• An appeal to the AFM, such as “AFM approved”. The AFM never gives a positive opinion on a specific investment.
• Start small, then more and more deposits.
• A withdrawal that fails unless you first pay “tax”, “release fees” or “compliance costs”.

The modern version is rarely a loud salesperson. There are portals with login details, monthly reports and a friendly account manager who asks how your holiday was. This method is also known as boiler room fraud. Business owners, doctors and people with a healthy dose of suspicion are targeted precisely this way. You are certainly not the only one.

What to do if you suspect investment fraud

1. Stop paying. Not even for a last “release”, “tax” or “fine”.
2. Record everything: messages, screenshots, names, web addresses, amounts, bank statements, transaction IDs and wallet addresses.
3. Cut off contact. Never give out your recovery phrase, private keys or remote access to your computer.
4. Report it. The AFM advises victims to file a police report and notify the AFM.
5. Have the money flow established independently, so that your police report or your lawyer can build on facts.

Can you get your money back after investment fraud?

Nobody can promise that in advance. Parties that do promise it in exchange for an upfront payment are often the next scammers. The AFM warns about “recovery funds”, fake lawyers and fake authorities that get in touch after a loss and ask for money first.

What is possible: establishing what happened and where the money went. The sooner you have that done, the better the chance that traces on-chain and off-chain can still be found.

Who investigates suspected investment fraud?

Investment fraud today runs through crypto, foreign legal entities and payment flows across several countries. A friend, accountant or bank adviser can look along with the best intentions, but lacks a view of that chain.

Paucitas establishes the facts: the communication, the set-up of the platform and the blockchain transactions. Paucitas does all tracing itself, without tracing tools. You receive a report that anyone can follow and understand step by step. You can use that report for a police report, civil proceedings or a counter-expertise.

We make no promises and offer no reassuring talk. Sometimes the outcome is a relief, sometimes it is hard. But it is always something other than continuing to guess. How such an investigation works is explained on the page about crypto fraud investigation.

What can you provide and what can you expect from an investigation?

You can provide your information digitally or at our office. For each case you receive a list of the information needed. Where necessary, Paucitas helps you gather and submit it.

Turnaround. An investigation takes from the same day to about two weeks, depending on the case.

Costs. Every investigation is tailored: you receive a custom quote in advance that we go through together, with no surprises. No investigation starts before the costs have been discussed and agreed.

Paucitas answers email within 24 hours, usually the same day, and messages via the contact form usually within 1 to 3 hours; you can call at any time, 24/7, on +31 20 244 5774. You can also email paucitas@paucitas.com, use the contact form below or visit our office in Amsterdam.

Sources: AFM, press release on investment fraud (2025); AFM, dubious investment offers; AFM, what if you have been scammed; Financial Supervision Act (Wft); EU Directive 2014/65 (MiFID II).