Have you fallen victim to investment fraud? Do not despair - but act quickly. In the first hours after discovering the fraud, your chances of saving your funds are at their highest. This article provides a practical step-by-step guide on how to proceed.
The First Hours Are Critical
Time is your most valuable ally in an investment fraud case - and simultaneously your worst enemy. Statistics show that if the victim contacts the bank within the first 2-4 hours after the transfer, the chance of a successful payment recall (reversal of the transfer) reaches 60-70%. After 24 hours, this chance drops sharply because fraudsters immediately move the money through a chain of accounts abroad.
Do not waste time blaming yourself. Investment frauds are sophisticated operations - even experienced and well-educated people fall victim to them. What matters is what you do now.
Step 1 - Contact Your Bank Immediately
This is the most important step and should be your first reaction - even before filing a criminal complaint, even before consulting a lawyer.
What to tell the bank:
- State that you are a victim of fraud and request a payment recall (reversal of the transfer)
- Provide the exact amount and date of the transaction
- If you paid by card, request a chargeback (reversal of the card transaction)
- Ask the bank to block any further outgoing payments to the fraudster’s account
Important information:
- The bank’s helpline operates 24/7 - you do not need to wait for branch opening hours
- A recall is only possible for bank transfers, not for cryptocurrency transactions
- For card payments, you have a statutory right to a chargeback - the bank is obliged to investigate your request
- Document everything - call reference number, operator’s name, time of the call
Step 2 - Secure All Evidence
Evidence is the foundation of any legal action - both criminal and civil. Fraudsters often delete websites and communications, so you must act quickly.
What to preserve and how:
- Screenshots of the fraudulent platform - full pages with the URL visible
- Email correspondence - download complete emails including headers
- SMS and chat messages - WhatsApp, Telegram, Viber - export entire conversations
- Bank statements - confirmation of all transactions related to the fraud
- Advertisements that attracted you - screenshots from Facebook, Instagram, Google
- Documents you signed - contracts, terms and conditions of the platform
- Records of telephone calls - if “brokers” called you, note down the numbers and times
Tip: Use the full-page screenshot function in your browser (Ctrl+Shift+P then “capture full size screenshot” in Chrome) - this captures the entire page at once.
Step 3 - File a Criminal Complaint
A criminal complaint (trestni oznameni) is crucial not only for initiating an investigation but also for subsequently claiming damages through joinder of a civil claim in criminal proceedings.
Where to file:
- At any Czech Police department - you do not need to go to the department in your area of residence
- At the state prosecutor’s office - in writing or electronically
- Through a lawyer - recommended, as the quality of the filing significantly affects the outcome
What to include in the criminal complaint:
- A precise description of events in chronological order
- The amount of the loss (even an approximate figure)
- All identifying information about the fraudster (names, emails, telephone numbers, URLs)
- A list of attached evidence
A professionally drafted criminal complaint prepared by a lawyer includes the legal classification of the offence (typically s 209 of the trestni zakonik (Czech Criminal Code) - fraud) and evidentiary proposals that facilitate the police investigation and increase the chances of initiating criminal prosecution.
More about criminal law options can be found on our Criminal Law page.
Step 4 - Civil Action in Parallel
Criminal proceedings and civil recovery of damages are not mutually exclusive - on the contrary, they can be pursued in parallel.
Joinder of Civil Claim in Criminal Proceedings
If the perpetrator is identified and criminal prosecution commences, you can claim damages directly within the criminal proceedings - through joinder of a civil claim in criminal proceedings (adhezni rizeni). This is faster and less expensive than a separate civil action.
Interim Measures
The court may, upon the injured party’s application, order the securing of the suspect’s assets - blocking bank accounts, prohibiting disposal of real property, etc. This is an effective tool if the perpetrator’s identity is known.
Civil Action
A standalone action for damages or unjust enrichment. Particularly suitable when the perpetrator is identified but criminal proceedings are not progressing or have been dismissed.
What NOT to Do - Warning Against Recovery Scams
After a fraud, you are vulnerable and the fraudsters know it. So-called recovery scams are a second wave of fraud targeting those who have already been defrauded once.
Warning signs:
- A firm contacts you unsolicited (cold call, email) offering to recover your money
- It demands an advance payment for expenses, a “registration fee” or a “refund tax”
- It promises 100% success - no legitimate lawyer makes such promises
- It is not registered in the Czech Bar Association directory
- It communicates only online without any personal contact
A legitimate lawyer never demands an advance for expenses. If someone demands payment upfront to “commence the case”, it is a fraud.
Conclusion - Act Quickly, Act Correctly
Investment fraud is a traumatic experience, but the chance of recovering at least part of your funds exists - especially if you act quickly and correctly. The key steps:
- Contact your bank immediately - payment recall
- Secure evidence - screenshots, emails, statements
- File a criminal complaint - ideally with a lawyer’s assistance
- Consider the civil route - joinder of civil claim, interim measures
If you need assistance, contact our office. The initial consultation is free of charge and without obligation. We specialise in helping victims of investment and online fraud.