What is a firm or offer check?
Ownvance's firm or offer check is a fixed-fee piece of work that tests whether a firm, platform or person offering you an investment is who they claim to be, and whether the offer holds up. We look at public records and the documents and messages you've been given, then write down exactly what we found and where.
What do we check?
Ownvance checks six things: whether the firm is on the regulator's register for the exact service on offer, whether its contact details match that register, signs of a clone firm, who would hold your money and in whose name, what the terms say about fees and withdrawals, and the fraud red flags in how you were approached.
- The regulator's register: whether the firm is authorised in its country, for which services, and whether any restrictions or warnings apply.
- Clone signs: the website address, email domain and phone number you were given, compared with the details on the register.
- Public warning lists and enforcement notices that mention the firm or a similar name.
- Who would hold your money or investments, in whose name, and whether that institution is itself authorised.
- The terms: fees, lock-in periods, minimum withdrawals, and any charge to release your money.
- How you were approached, and any pressure, secrecy or promised returns in the messages you've received.
What will you receive?
You receive a written record of the check: each thing we looked at, what we could confirm, what we couldn't, and where the information came from. Any red flags are explained in plain words. The record is yours to keep, and you can show it to your bank, a family member or an adviser if you wish.
- A written record of each check, with the source behind every finding.
- A clear list of what could not be confirmed, and why.
- Any red flags we found, explained in plain English.
- Questions you could put to the firm in writing before you decide anything.
How long does a check take?
A check on one firm or offer usually takes two to five working days once we have the details: the firm's name, how it contacted you, and any documents, links or messages it has sent. A check that hits a serious red flag early can be quicker. Your engagement letter confirms the dates.
If you're being pushed to pay before the check is finished, don't pay. A genuine firm will wait while you look into it, and pressure to act now is a red flag in itself.
When is a check worth asking for?
Ask for a check whenever someone you didn't approach first offers you an investment, a trading account or help with your money, and before you send anything. It's also worth it when a friend recommends a platform you don't know, when an online contact keeps mentioning crypto, or when a firm asks you to pay somewhere new.
- An unexpected message, phone approach or social media advert offering an investment, often with a high or fixed return.
- A 'manager' or 'mentor' who offers to trade for you on a platform you hadn't heard of.
- A new online friend or dating match who keeps steering the conversation to their investment profits.
- Bonds, shares ahead of a listing or any scheme offered with a deadline attached.
- A firm you've dealt with before suddenly asking you to pay into a different account.
Which red flags end a check early?
Some findings settle the question on their own, so we stop and tell you straight away rather than finishing every step. They include a firm missing from the register, contact details that don't match it, a request to pay a personal account or buy crypto to send on, guaranteed high returns, and any fee to release your money.
- The firm isn't on the register, or isn't authorised for the service it's offering you.
- The phone number, website or email address differs from the register, which is the classic sign of a clone.
- You're asked to pay an account in someone else's name, or to buy crypto and transfer it.
- Returns are guaranteed, unusually high or described as carrying no risk.
- There's a fee, tax or charge to withdraw your own money.
- You're told to keep it from your bank or family, or to install remote-access software.
Our guide to investment fraud red flags explains each of these in more depth, and how crypto and romance scams work covers the slower schemes that begin with friendship.
What should you do if you've already paid?
Contact your bank's fraud team straight away, using the number on your card or the bank's own website, and ask whether the payment can be stopped or recalled. Next, report what happened to the police or your national fraud reporting service. Stop all contact with the firm, and keep every message, receipt and screenshot as evidence.
Expect a second approach. People who have lost money are often contacted by 'recovery' firms, lawyers or even fake officials who promise to get it back in exchange for an upfront fee. It's a well-known second scam, aimed at people who are already hurting. Genuine help from your bank or the police never asks for a fee first.
Ownvance doesn't recover money and never offers to. If you've paid and aren't sure whether the firm is genuine, speak to your bank first. A check can come afterwards, if it would still help you decide what to do next.
What can't a check do?
A check can't prove that a firm is safe or that an investment will do well. It records what we could and couldn't confirm on the day, from public records and what you've shown us. We don't vouch for any firm beyond that, recover lost money, or tell you whether to invest. The decision stays with you.
Ownvance isn't a regulated investment adviser. If the offer turns out to be genuine and you want to know whether it suits you, that's a question for an authorised adviser. Our important information has more on what our work is and isn't.