Letter to Report a Cryptocurrency Scam

What is a Letter to Report a Cryptocurrency Scam?

A letter to report a cryptocurrency scam is a formal document used to notify relevant authorities or entities about a suspected or confirmed cryptocurrency scam. It details the scam's nature, how the victim was targeted, and any losses incurred.

The goal is to request immediate action, such as freezing affected accounts or reversing fraudulent transactions.

Is it mandatory to have a letter to report a cryptocurrency scam?

No, it is not mandatory to have a letter to report a cryptocurrency scam, however having one is highly recommended as it offers benefits such as providing a clear, written record of the potential or actual scam, helping establish the facts, timelines and details of the incident.

Who is involved in a letter to report a cryptocurrency scam?

The victim (individual or organisation) who believes they have been scammed is responsible for drafting the letter and including any evidence such as transaction records.

The letter to report a cryptocurrency scam is addressed to an authority responsible for handling fraud reports and claims. Examples of authorities to report this letter to include:

Police
Action Fraud
Citizens Advice Bureau
Financial Conduct Authority.

What has to be done once a letter to report a cryptocurrency scam is ready?

Once a letter to report a cryptocurrency scam is ready, reporters should submit it to Action Fraud, the national centre for fraud and cybercrime, either online or by phone, to obtain a crime reference number for tracking the case.

Next, they should notify any cryptocurrency exchanges involved, providing transaction details and the crime reference number to request account freezing if possible. Inform your bank or payment provider if payments were made through them, as they may assist with chargebacks. Finally, if the scam involved an unregulated investment scheme, it should be reported to the Financial Conduct Authority (FCA) to support broader regulatory oversight.

What must a letter to report a cryptocurrency scam contain?

A letter to report a cryptocurrency scam should contain:

• The victim and recipient's contact details;
• Summary of the incident;
• Details of the transaction and losses in question;
• Suspect's information;
• Evidences;
• Request for action.

Applicable law

Fraud Act 2006.

Help from a lawyer

You can choose to consult a lawyer if you need help.

The lawyer can answer your questions or help you through the process. You will be offered this option when you complete the document.

How to modify the template?

You fill out a form. The document is created before your eyes as you respond to the questions.

At the end, you receive it in Word and PDF formats. You can modify it and reuse it.