Stop fraud before your money moves
How to confirm you are really dealing with Cambridge Currencies, spot the scams that target international transfers, check every payment before it leaves, and act fast if something goes wrong.
The single most effective protection against transfer fraud is to confirm payment details by phone, on a number you already trust, before any money moves. Cambridge Currencies agrees every rate and confirms every payment detail with you by phone through a dedicated specialist, and will never tell you by email or text that our bank details have changed. This page explains how to verify us, the scams to watch for, and exactly what to do if you are targeted.
Our bank details will never change by email.
If an email, text or message says Cambridge Currencies has new bank details, treat it as fraud, even if it looks genuine or comes from an address you recognise. Do not pay. Call us on +44 1223 608232.
How can I tell if a call, email or text is really from Cambridge Currencies?
A genuine contact from Cambridge Currencies will always match the details below, and will never ask you to do anything on the "never" list. Fraudsters can fake a caller ID, copy our logo and register look-alike web addresses, so check the substance of the request, not just its appearance. If anything feels wrong, hang up and call us back on a number from this page.
+44 1223 398087
Mon–Fri, 9am–7pm (UK). Hang up and call back on these numbers if in doubt.
We never use Gmail, Outlook.com, Yahoo or other webmail. Check every character of the sender's domain.
Type it yourself. Look-alike domains swap letters, add hyphens or use other endings.
Registered in England & Wales, No. 15402338. Check Companies House.
ScioPay (FRN 927951)
FCA-authorised partners that process our payments. Search the FCA Register.
Cambridge Currencies® is a registered UK trade mark. Anyone else trading under the name is not us.
We will always
- Agree the rate, amount and payment details with you by phone, through your dedicated specialist.
- Confirm our client money account details verbally before you send any funds.
- Email you only from an @cambridgecurrencies.com address.
- Welcome you hanging up and calling us back on a number published on this page.
- Pay your money only to the beneficiary account you have given us and confirmed.
We will never
- Tell you by email, text or WhatsApp that our bank details have changed.
- Ask you to pay into a personal account or move money to a "safe account".
- Ask for your online banking password, PIN, card details or one-time passcodes.
- Ask you to install remote-access software such as AnyDesk or TeamViewer.
- Offer investments, crypto or guaranteed returns, or charge a fee to recover lost money.
- Pressure you to pay before you have had time to check.
Is this call, email or message a scam?
Tick everything that applies to the contact you have received. The checker weighs each warning sign using the patterns behind the scam types UK Finance records, and tells you what to do next. Nothing you tick is stored or sent anywhere.
What happened?
Your result and next steps will appear here. If you are under pressure right now, stop: a genuine organisation will always let you call back.
How much money do UK fraud victims lose?
Criminals stole £1.28 billion through payment fraud in the UK in 2025, according to the UK Finance Annual Fraud Report 2026. Authorised push payment (APP) fraud, where the victim is tricked into sending the money themselves, accounted for £576.4 million of that, up 19% on the year.
Average loss per APP scam case, UK, 2025
Total losses divided by reported cases, by scam type. The scams that target large, planned payments are rarer but cost far more per victim.
Source: UK Finance Annual Fraud Report 2026. Averages calculated by Cambridge Currencies from the report's published losses and case counts, rounded to the nearest £100. Purchase and romance scams are excluded because case counts were not published in comparable form.
What are the most common scams targeting international transfers?
Almost every scam that targets a currency transfer works the same way: the fraudster inserts themselves between you and the person you mean to pay, then creates enough urgency that you skip a check. Select a scam type to see how it works, the warning signs and the defence that stops it.
Payment diversion (invoice and mandate fraud)
Payment diversion fraud is when a criminal intercepts or imitates a genuine email and replaces the payee's bank details with their own. It cost UK victims £41.3 million across 2,305 cases in 2025, an average of roughly £17,900 per case.
How it works
A mailbox belonging to you, your supplier, lawyer or agent is compromised. The fraudster watches the thread, then sends a perfectly timed "updated bank details" email as payment day approaches.
Red flags
- New or "updated" account details
- A reason the usual account can't be used (audit, tax, bank change)
- Subtle domain changes: rn for m, .co for .com
Your defence
- Call the payee on a number you already hold, never one in the email
- Confirm the account number and name out loud
- Use a free IBAN and sort code checker as a second check
Broker impersonation and clone firms
A clone firm is a fraudulent operation that uses the name, registration number or branding of a genuine, authorised firm. The FCA advises checking the Financial Services Register and contacting a firm only on the details listed there.
How it works
Fraudsters copy a real broker's name, logo and FRN onto a look-alike website, then quote rates slightly better than the market to win your transfer.
Red flags
- Contact details that differ from the FCA Register or Companies House
- Webmail addresses or mobile-only numbers
- Rates noticeably better than every competitor
Your defence
- Check the firm on the FCA Register and Companies House
- Call the number from the official record, not the website you were sent
- Compare the details with our verification cards above
Property and conveyancing fraud
Property purchases are prime targets because the sum, the deadline and the parties are all predictable. A deposit or completion payment is usually the largest transfer a private client ever makes, and it moves on a date the fraudster can learn from a compromised inbox.
How it works
The fraudster poses as your solicitor, notary, abogado or estate agent and emails revised completion details days before the deadline.
Red flags
- Changed client-account details close to completion
- Pressure that the purchase will fall through
- A "new" member of the firm handling payment
Your defence
- Agree at the outset that bank details will never change
- Confirm details by phone with the lawyer you instructed
- Send a small first payment and confirm receipt before the balance
Bank and police impersonation
Impersonation of police or bank staff cost UK victims £55.5 million in 2025. The caller claims your account is compromised and talks you into moving money to a "safe account" that they control.
How it works
A spoofed caller ID shows your bank's real number. The caller already knows some personal details, creating instant credibility.
Red flags
- Any request to move money to protect it
- Requests for one-time passcodes
- Being told not to tell your branch or family
Your defence
- Hang up and dial 159, which connects you safely to your bank
- Use a different phone if possible, as some scammers hold the line open
- No bank or police officer will ever ask you to move money
Investment and forex trading scams
Investment scams were the largest APP category in the UK in 2025, at £221.5 million across 14,893 cases; losses rose 40% and cases 26% on the year. Forex and crypto "trading platforms" promising steady returns are a common vehicle.
How it works
Victims are drawn in through social media adverts, fake celebrity endorsements or a new online contact, then shown a dashboard of fictitious profits to encourage larger deposits.
Red flags
- Guaranteed or unusually high returns
- Fees or tax demanded before withdrawals
- An unregistered firm or one on the FCA Warning List
Your defence
- Check the FCA Warning List before paying
- Remember a currency broker exchanges money; it does not manage investments
- Never pay to "unlock" profits
CEO fraud
CEO fraud is when a criminal impersonates a senior executive and instructs a member of staff to make an urgent, confidential payment. It was the least common APP scam type in the UK in 2025, but carried the highest average loss, at roughly £28,400 per case.
How it works
An email, message or AI-generated voice note "from the MD" asks finance to pay a supplier or acquisition deposit abroad, today, without telling anyone.
Red flags
- Secrecy and bypassing normal approval
- The executive is "travelling" and can't be called
- A new overseas beneficiary
Your defence
- Dual authorisation on every new beneficiary
- Call-back to the executive on a known number
- A culture where staff are thanked for challenging
Recovery room scams
A recovery room scam targets people who have already lost money, offering to get it back for an upfront fee. The FCA warns that these fraudsters often claim to represent the FCA, government, law enforcement or another regulator.
How it works
Victim lists are sold between criminal groups. Weeks after a loss, a "recovery agent" or "regulator" calls, knowing the details of the original scam.
Red flags
- Any fee to recover lost money
- Contact you did not initiate after a loss
- Webmail addresses from a "regulator"
Your defence
- Deal only with your own bank and the police
- Report the contact to Report Fraud
- Recovery routes through your bank are free
How do I spot a fake investment?
An investment scam is when a criminal persuades you to move money into a fictitious fund or pay for an investment that does not exist. It is the most expensive scam in the UK: victims lost £221.5 million across 14,893 cases in 2025, and only 48% of those losses were returned, according to the UK Finance Annual Fraud Report 2026.
What fake investments look like
Crypto and forex trading platforms
A slick website or app shows your balance growing daily. The profits are invented, and withdrawals are blocked by "fees", "taxes" or "verification charges".
Fake celebrity and news adverts
Adverts and fake news articles show well-known people endorsing a scheme. UK Finance notes social media adverts offering unrealistic returns are used heavily in investment scams.
The friend with a tip
A new contact met online, often on a dating app or messaging group, builds trust over weeks, then shares the platform "that changed their life".
Time-limited "exclusive" offers
A confident caller offers gold, property, carbon credits, land banks or wine, and insists the opportunity closes today.
Clone investment firms
Fraudsters copy the name and registration number of a genuine FCA-authorised firm, then give you their own phone number and bank details.
"Send it abroad to invest"
Victims are told to convert money and send it to an overseas account, exchange or broker, which moves the loss outside UK reimbursement rules.
The FCA's seven warning signs
- The contact was unexpected.
- You feel pressured to act quickly.
- The returns sound too good to be true.
- The offer is exclusive to you.
- They are flattering you or building a friendship.
- You feel worried or excited.
- They speak with authority and claim to be authorised.
Source: FCA ScamSmart
Four checks before you invest a penny
- Search the firm on the FCA Register and confirm it is authorised for investments.
- Check the FCA Warning List of unauthorised firms.
- Contact the firm only on the phone number listed on the Register, or call the FCA on 0800 111 6768.
- Never pay a fee, tax or "unlocking" charge to withdraw your own money. A genuine platform deducts charges; it does not invoice you for them.
Been told to use Cambridge Currencies, and what to say? Stop.
A common tactic: a fraudster tells you to open an account with a legitimate currency broker such as Cambridge Currencies, coaches you to give a false reason for the transfer (a holiday home, family support, paying a supplier), and asks you to send the money to an overseas account "in your own name". That account is usually set up or controlled by the fraudster, so the money is gone as soon as it arrives.
Cambridge Currencies does not offer, recommend or manage investments, and has no connection to any scheme that tells you to use us. Every transfer starts with a conversation about its purpose, which UK anti-money laundering rules require. If anyone has told you what to say, asked you to keep the payment secret, or opened an overseas account in your name for you, tell your specialist before any money moves. That conversation is there to protect you.
Which UK fraud protections stop at the border?
The UK's strongest fraud protections were built for domestic payments. Mandatory APP scam reimbursement covers money moved "from one UK bank account to another over the Faster Payments system or CHAPS", according to the Payment Systems Regulator. Once money is sent abroad, that safety net no longer applies, which is why checks before the payment matter far more than remedies after it.
| Protection | UK-to-UK payment | International payment |
|---|---|---|
| APP scam reimbursement | Up to £85,000; claim within 13 months; optional £100 excess | Not covered by the scheme |
| Confirmation of Payee name check | Checks the account name before you pay | Does not check the overseas beneficiary (see why) |
| Recalling a payment | Possible, but not guaranteed once funds are withdrawn | Depends on the receiving bank's cooperation abroad (recall guide) |
| Eurozone Verification of Payee | Not applicable | Name check on euro payments inside the euro area; not a UK-bank feature |
| FSCS protection | Applies to bank deposits up to the FSCS limit | Money held by payment firms is not FSCS-protected; it is safeguarded instead |
What checks should I make before sending money abroad?
Six checks, about five minutes, before every international payment. Tick them off as you go; the list resets when you leave the page.
How can businesses stop invoice and payment diversion fraud?
Businesses absorbed 68% of UK invoice and mandate fraud losses in 2025, and the problem is global: the FBI's Internet Crime Complaint Center recorded $55.5 billion in business email compromise losses worldwide between October 2013 and December 2023. The controls that stop it are procedural, not technical.
Independent call-back
Verify every new or changed beneficiary by calling a number held on your supplier master file, never one supplied in the request.
Dual authorisation
Require two people to approve any new overseas beneficiary and any payment above a set threshold, with neither able to override the other.
Bank-detail change control
Log every request to change supplier details, hold payment for a cooling-off period, and confirm through a second channel before release.
Email and domain hygiene
Enable multi-factor authentication on every mailbox, set up SPF, DKIM and DMARC on your domain, and flag external emails that imitate internal names.
For a full framework, including staff training and incident response, read our guide to international payment fraud for UK businesses or explore business foreign exchange with Cambridge Currencies.
What should I do if I think I've been scammed?
Speed is the single biggest factor in recovering money. Banks can sometimes freeze funds that have not yet been withdrawn, but the window is measured in hours, not days. Follow these steps in order.
- Now
Call your bank immediately
Dial 159 from a UK phone to be connected safely to your bank. Stop Scams UK says the service reaches customers of more than 99% of UK retail current accounts and cannot be spoofed. Or use the number on the back of your card.
- Now
Call us if a Cambridge Currencies payment is involved
Call +44 1223 608232 or +44 1223 398087. If a transfer has not yet been released, we can work with our payment partners to try to stop it.
- 24h
Report it to the police
In England, Wales and Northern Ireland, report to Report Fraud online or on 0300 123 2040. The service replaced Action Fraud in January 2026. In Scotland, call Police Scotland on 101.
- 24h
Report the message itself
Forward scam texts free to 7726 and suspicious emails to report@phishing.gov.uk, as set out by GOV.UK. Change any passwords you may have shared.
- 13 mo
Claim reimbursement where it applies
For UK-to-UK Faster Payments and CHAPS payments, you must report within 13 months to claim under the APP reimbursement rules. International legs are not covered, so the earlier stops are what count.
- After
Beware of anyone offering to recover your money
Fraud victims are often targeted again. Your bank and the police will never charge a fee to recover lost funds.
Our step-by-step guide covers the recovery process in more depth: what to do if you've been scammed sending money abroad.
How are Cambridge Currencies client funds protected?
Cambridge Currencies operates with FCA-authorised partners Currencycloud (FRN 900199) and ScioPay (FRN 927951). Funds are safeguarded by these FCA-regulated e-money partners at a credit institution, which means client money is held separately from the firms' own money. Cambridge Currencies is not itself FCA-authorised.
Safeguarding is not the same as FSCS protection, and the FCA states that money held with a payment firm will not be covered by the Financial Services Compensation Scheme. Read how this works on our safeguarding page, see how a Cambridge Currencies payment works end to end, or learn what happens if a currency broker stops trading.
Specialist insight
Why the phone is a security control, not an inconvenience. Every scam on this page depends on one thing: an instruction that arrives in writing and is acted on without a conversation. Online-only platforms accept payment instructions typed into a screen. At Cambridge Currencies, every transaction is completed by phone with a dedicated specialist who knows your transfer, your beneficiary and your timeline. A change that arrives out of pattern is questioned before money moves, not investigated after it has gone.
See exactly how paying a currency broker from your UK bank works.
How do I report someone pretending to be Cambridge Currencies?
If you receive a call, email, text, social media message, app or website using the Cambridge Currencies name that you are unsure about, do not engage with it. Email info@cambridgecurrencies.com with a screenshot or the forwarded message, or call us during opening hours. We investigate every report and act against impersonation of our registered trade mark. You can also report scam websites through the National Cyber Security Centre. Existing clients with a concern about how a transfer was handled can use our complaints process.
Security and fraud: frequently asked questions
Is Cambridge Currencies regulated by the FCA?
Cambridge Currencies is not itself FCA-authorised. It operates with FCA-authorised partners Currencycloud (FRN 900199) and ScioPay (FRN 927951), which process payments and safeguard client funds at a credit institution. You can check both partners on the FCA Register.
Will Cambridge Currencies ever change its bank details?
Cambridge Currencies will never notify you of a change to our bank details by email, text or messaging app. Payment details are confirmed with you by phone by your dedicated specialist. Any written message claiming our details have changed should be treated as fraud and reported to us.
What should I do if someone calls claiming to be from Cambridge Currencies?
If you are unsure, hang up and call us back on +44 1223 608232 or +44 1223 398087. Caller IDs can be faked, so a familiar number on your screen is not proof. A genuine specialist will always be happy for you to call back.
Can an international transfer be stopped if I was scammed?
An international transfer can sometimes be stopped before it is released, and occasionally recalled afterwards if the receiving bank cooperates and the funds are still there. Success falls sharply with every hour, so contact your bank and the sending firm immediately. Our recall guide explains the process.
Does Confirmation of Payee protect international payments?
Confirmation of Payee checks the account name on UK domestic payments only. It does not verify a beneficiary's name at an overseas bank, which is why calling the recipient on a known number remains the most important check on any international transfer.
Will my bank refund me if I'm scammed on an international transfer?
The UK's mandatory APP reimbursement rules cover payments between UK accounts over Faster Payments or CHAPS, up to £85,000, claimed within 13 months. International payments are outside the scheme, although a bank may still choose to investigate and help recover funds.
Does Cambridge Currencies offer investments?
No. Cambridge Currencies exchanges currency and makes international payments; it does not offer, recommend or manage investments, trading accounts or crypto. Anyone using our name to promote an investment is not us, and you should report it to us and to Report Fraud.
How can I check a currency broker is genuine?
Check the firm on Companies House and its payment partners on the FCA Register, compare the contact details there with those you were given, and confirm the website address letter by letter. Our guide to checking a currency broker is legitimate walks through each step.
Explore our fraud prevention guides
Move money abroad with a specialist on the line
Speak to a Cambridge Currencies specialist about your next international transfer. Every transaction is agreed and confirmed by phone with a dedicated specialist, so payment details are checked by a person before your money moves.
- UK Finance, Annual Fraud Report 2026
- Payment Systems Regulator, APP fraud reimbursement protections
- City of London Police, Report Fraud launches (January 2026)
- FCA, Clone firms and individuals and Recovery room scams
- FCA, Using payment service providers
- FCA ScamSmart, How to avoid investment scams
- Stop Scams UK, 159
- FBI IC3, Business Email Compromise: The $55 Billion Scam
Cambridge Currencies Ltd, registered in England & Wales No. 15402338. Cambridge Currencies® is a registered UK trade mark (UK00004380526). Cambridge Currencies is not authorised by the FCA; payment services are provided by FCA-authorised partners Currencycloud (FRN 900199) and ScioPay (FRN 927951). This page provides general guidance on fraud prevention and is not a substitute for contacting your bank or the police.