Double scam: how recovery room fraud works

Anyone who has been the victim of fraud runs the risk of falling into a trap a second time. Fraudsters know you've lost money and often strike again with a story that sounds even more credible this time.

You were scammed a few weeks or months ago. You have filed a report, but there is no trace of your money or the perpetrators. Or is there...? Just when you've accepted your fate, you get a phone call. It's a friendly voice and someone who speaks English or your language fluently. They introduce themselves as a lawyer, detective or police officer. They know your name. They know how the fraudster scammed you. They know the amount. "The perpetrator has been arrested abroad", they say. "We can recover your money. But first you have to pay an administrative fee."

What is recovery room fraud?

In recovery room fraud, criminals pretend to be accountants, agents or employees of a financial regulator. They approach victims of past fraud with the promise to recover their lost money. For a fee, of course.

But this compensation never resolves anything. Firstly, there are administrative fees. Then there are legal fees. And taxes that need to be paid in advance. Each time you pay, a new obstacle arises. Until the fraudsters disappear with your money – on top of the money you lost the first time.

It is worth remembering that reports of fraud are only shared with judicial authorities and never with private companies, lawyers, private detectives or other parties. No company can legitimately know that you have been the victim of a scam. Asking 'How do you know this?' is your first line of defence.

Recovery room fraud on the rise

Recovery room fraud is not a marginal phenomenon in Belgium. In the second half of 2025, the FSMA registered 183 reports of recovery room fraud, amounting to over €850,000 that vanished into thin air (source). A year earlier, this figure was 25% lower. The broader context is equally as concerning: the total number of fraud reports to the FSMA has been growing for years at an average of nearly 20% per year (source). In the second half of 2025, victims of fraud in Belgium lost a total of nearly €23 million (source). And these are only the amounts that were officially reported.

What is their approach?

Most victims are contacted by phone or email. Fraudsters are not afraid to use the name, logo and contact details of real organisations. The FSMA has issued several warnings that fraudsters use its name and logo to mislead victims.

There are three common scenarios:

1. Advance payment of fictitious fees

These are referred to as administrative fees, legal fees, taxes on the sum to be recovered. If you pay, new fees will be required. Until all contact suddenly disappears.

2. Access to your computer

The scammer claims to work for free, but requests access to your computer via a tool such as AnyDesk. Once inside, they install spyware or log in to your bank account.

3. Creating a crypto wallet

You will be asked to open an account on a crypto platform. This wallet is emptied immediately. Sometimes, it's the same fraudsters who have returned in a different form. Other times, lists of victims are sold to other criminal networks. Names, contact details, the amounts lost and the platforms involved are all valuable information on the black market.

TIP Not sure whether a message, phone call or email really is from Keytrade Bank? Use the call function in the Keytrade Bank app when calling us. This way, you can be 100% sure that you're speaking to an official staff member.

Who is most at risk?

By definition, recovery room fraud affects people who have already been scammed. This is what makes it so deceptive: the target group is already suspicious, but also desperate enough to believe it when someone comes up with a solution. Everyone is vulnerable to fraudsters, even if the majority of victims appear to be over fifty.

There is a psychological mechanism that makes recovery room fraud so effective: the 'sunk cost effect'. Anyone who has already lost a large amount of money unconsciously thinks that if they add a little more and succeed, they will get everything back. Hope beats logic. And then there is the credibility of the fraudster themselves. They know the details. They speak with authority. They sound like a rescue angel. Add to that feelings of shame. Those who have been scammed often don't talk about it, either with friends or even family. This makes victims even more vulnerable: no one warns them that fraudsters can show up with a new list of demands.

How do you protect yourself?

1. Know what official authorities can and cannot do

The FSMA, lawyers, detectives and accountants are not authorised to recover lost money and never contact victims for this purpose. Any unsolicited contact with this message is fraud – without exception.

2. Verify through an official channel

Contact the police through the official channels.

3. Never pay

No matter how convincing the story.

4. Never allow access to your computer

No legitimate organisation will ever ask for this.

5. Report it

If you are a victim of fraud, report it to the police. Also report it to the FSMA and Safeonweb. This helps to protect others.

Stay safe online with Keytrade Bank

At Keytrade Bank, security is a top priority. If your personal bank details have been listed on a suspicious website, your personal details have been shared with an unknown person over the phone or you've spotted an unknown payment that you didn't make personally, you can call us 24/7 on +32 (0)2 679 90 00.