news item

Alert: Money recovery scam using fake documents to impersonate ASIC –


Key points

  • ASIC is alerting consumers about Payback-Recovery Co which claims to be a money recovery service. The entity is providing consumers with fake documents displaying the ASIC logo and Commonwealth Coat of Arms.
  • ASIC is not associated with the operators of We do not assist in recovering funds lost to a scam or fraud and would never hold crypto-assets.
  • Consumers have also reported paying upfront fees without receiving any recovered money or refund.

Why ASIC is concerned

The operators of claim that they are a money recovery service helping victims of online fraud or scams get their money back. ASIC has received reports from Australian consumers who have paid upfront fees but did not receive any refund or recovered money.

The website is misleading consumers by:

  • providing fake documents to consumers claiming to have an affiliation with ASIC. This is not true.
  • falsely claiming that ASIC approves’s activities. This is not true.
  • suggesting they have the authority to act for ASIC as an Unclaimed Money Representative. This is not true, you can search unclaimed money for free (however ASIC does not hold unclaimed money from fraud/scam losses).

The website also provides unrealistic recovery rates, suggesting they recovered 95% of consumer losses. It is likely operating as a scam.

How to tell a document is not from ASIC

A document is probably a scam and not from ASIC if it:

  • claims that ASIC can provide assistance in recovering funds from victims of a scam
  • claims to have a relationship with a third party to assist in recovering scam funds
  • purports to be from ASIC but refers to third-party service provider websites to proceed
  • purports that ASIC holds funds in crypto-assets.


What to do if you think you have been scammed?

  1. Do not send any more money. Block all contact from the scammer.
  2. Report it to your financial institution. If you are not happy with your financial institution’s response, you can make a complaint to the Australian Financial Complaints Authority.
  3. Be wary of secondary scams or other money recovery services that may offer to help you get your money back for a fee, these are often also scams.
  4. Contact IDCARE, a free government-funded service, which can help to develop a specific response plan if your identity has been compromised. IDCARE will never contact you out of the blue.
  5. You do not need to lodge a report with ASIC as we have sufficient information at this stage. ASIC is unable to assist you to recover your money.

For more detailed steps, see what to do if you’ve been scammed.

Further support

If you need someone to talk to, contact:

  • Lifeline on 13 11 14 (24 hours) or their crisis support online chat or
  • Beyond Blue on 1300 22 46 36 (24 hours) or their webchat

If you are experiencing problems with debt, contact:

  • the National Debt Helpline on 1800 007 007 (Monday to Friday 9.30am to 4.30pm) or chat online

Related links

ASIC is Australia’s corporate, markets and financial services regulator.

Media enquiries: Contact ASIC Media Unit