Here at Wealth Recovery Solicitors (WRS), we have been extremely successful at recovering client’s lost funds, with over £50million being recovered in the last few years alone. However, this success has consequently resulted in an increasing number of scammers using our reputation and our company name in an attempt to defraud individuals.
This article explores how scammers impersonate our company, the red flags of an individual impersonating WRS, and how to protect yourself against these scams.
How the scammers operate
The most common tactic we have seen from scammers impersonating WRS is contacting clients who have previously made an investment into cryptocurrency. In a lot of cases, clients have invested a small amount (such as £250.00) into a fraudulent cryptocurrency platform a few years ago, and have either been unable to access the investment, or have forgotten about the funds.
The scammers will then contact the client years later either via phone or email, advising their investment into cryptocurrency (usually Bitcoin) has grown to a substantial amount, and a small fee is required to be paid in order to release the funds. Often, the scammers give the victim a case reference number and a link to a portal where they can track their case. Once the client pays the fee required, further requests for payment are made either for withdrawal fees, taxes or gas fees before the victim finally realises they will not be receiving their funds.
Scammers also contact clients who have not invested previously, and also clients who have recently lost funds to a scam company. In the latter case, the fake WRS will claim to have assumed control of the scam company’s assets and are ready to distribute them to the client after a fee is paid.
How WRS are combatting the issue
We are fully aware of the issue of scammers impersonating us, and we are doing all we can to combat this. We report all instances of individuals being contacted by a fake WRS to our compliance officer, who takes further details regarding the scammers.
We have also reported the websites to the Solicitors Regulation Authority (SRA), who have published an article regarding scammers impersonating ourselves. We are working to take down any website purporting to be ourselves, in order prevent any further attempts to misuse our company name.
Red flags to look out for a potential WRS impersonator
Despite the scammers being extremely sophisticated with their tactics to defraud individuals, there are red flags to look out for:
- Use of fake names:
-
- Scammers often use fake names when contacting individuals purporting to be from WRS. All of WRS’ employees are listed on our website which is www.wealthrecovery.co.uk under the ‘about us’ section. If anyone contacts you who is not listed on the website, you can be sure they are a scammer.
- Unsolicited contact:
-
- We here at WRS would never make unsolicited contact with yourself and would only reach out to you if you have filled in an enquiry form. If anyone reaches out to you out of the blue saying they represent WRS, you can be sure this is a scam.
- Asking for fees upfront:
-
- WRS operate claims against your bank on a no win no fee basis, meaning we would only take payment for our services from yourself once the recovered funds are back in your bank account. Requests for payments before the funds have been returned to you is a red flag that you are dealing with a scammer.
What to do if you receive contact from someone claiming to be from WRS
- Check the individual who sent the email:
-
- The first thing you should do is check our website to see if the person reaching out is listed on our website under the About Us section. If the person is not listed on our website, it is highly likely they are a scammer.
- Check the email domain:
-
- We would only contact you from the email domain ‘@wealthrecovery.co.uk’, therefore any contact from other domains such as ‘@wealthrs.org or ‘@wealthrecovery.ca’ are scammers impersonating us.
- Ring our office number
-
- If you are still unsure as to whether the contact you received was legitimate, you can ring our office on 020 3695 9239, and a member of our team will be able to confirm to you if the contact was from ourselves or not. This is the safest way to check whether you are dealing with us.
Final Thoughts: Stay Vigilant and Stay Protected
Scammers exploiting the trusted name of Wealth Recovery Solicitors are becoming increasingly sophisticated, but with vigilance and awareness, you can protect yourself from falling victim. Always remember: WRS will never contact you unsolicited, never ask for upfront fees, and all legitimate staff members are listed on our official website.
If you receive suspicious communication claiming to be from us, always make sure you verify the sender’s identity, check the email domain, and don’t pay upfront in order to receive recovered funds. Staying informed and cautious is your best defence. Together, we can stop scammers in their tracks and ensure your financial recovery journey is secure and legitimate.
If you have fallen victim to a WRS impersonation scam, fill in an enquiry form on our website to see if we are able to assist you in recovering funds.