The Investment Fraud Special Advisory Committee
Welcome to the Investment Fraud Committee
The Investment Fraud Committee is a distinguished advisory body within Parliament’s APPG on Investment Fraud and Fairer Financial Services. We work to protect investors and pension savers, push for fairer tax treatment for victims, and expose regulatory and enforcement failures in this area. Through Parliamentary debates, expert events, and influential publications, we campaign to ensure victims are heard, supported, and recognised at the highest levels in UK government.
In the press.
Dan Whitworth
Senior Reporter, BBC Radio 4's Money Box and BBC Breakfast (ex R1 Newsbeat and R4 Today)
"One of the most important stories I've ever worked on.
With the most inspiring victims... who *somehow* manage to keep going.
Thanks to the BBC Breakfast team at BBC News for sharing their story."
Rt Hon Caroline Nokes
Margaret Snowdon, OBE
Sue Flood
Carly Barnes-Short
Investment & Pension Fraud In Numbers
26,740
In 2023, 26,740 people fell victim to investment fraud. (CityAM)
2.6BN
£2.6 Billion Lost Since 2020: Between January 2020 and December 2023, UK residents reported losses exceeding £2.6 billion due to investment scams, affecting 98,525 victims. (CityAM)
50%
Online investment fraud is also reported to have increased by 50 per cent during the pandemic and to have been the costliest scam. (ThisIsMoney)
“The sums involved in fraud in the UK are vast, running into many billion. I doubt if household burglary even approaches a thousandth of the sums lost at all levels to fraud. Yet it is almost entirely ignored by the police, the Regulatory Authorities and the Government. Less than 1% of fraud is even looked at, let alone prosecuted.”
Anthony Stansfeld, Former Police & Crime Commissioner,

Our Campaigns
What the Committee Works On?
Investment and pension fraud is a growing crisis in the UK, leaving victims with devastating financial losses and inadequate support. Victims face a broken system, while fraud remains under-prioritised. The Investment Fraud Committee is committed to changing this, advocating for victims, demanding accountability, and driving reforms to protect investors and pension savers.
Our Key Campaigns:
- Victims’ Treatment by HMRC: We fight against unfair tax penalties imposed on fraud victims and advocate for a fairer system.
- Law Enforcement & Regulatory Failures: By benchmarking international best practices, we aim to address systemic failures in both law enforcement and regulation, ensuring fraud is investigated and prosecuted effectively.
- Financial Abuse in Sport: We focus on the growing issue of fraud and financial misconduct in sport, working to raise awareness and improve protections for professional athletes.
- Pension Fraud: We highlight the risks of pension fraud and advocate for stronger safeguards and better protection for those saving for retirement.
Why It Matters
- Victims Are Struggling: Many victims face ongoing financial and emotional distress while battling powerful institutions.
- System Integrity at Stake: The UK’s financial services sector must regain public trust and confidence.
- Fraud Is Growing: Without proper safeguards, the risk of fraud will continue to rise, impacting more people.
This committee’s work is vital to restoring justice for victims and ensuring a stronger, fairer financial system for everyone.
"While the Treasury and HMRC must, of course, ensure that everyone pays what they owe, and in a timely fashion, I believe there must be an immediate shift in how we treat those who have already been exploited. The government must ensure that victims are protected from further harm. Enforcement action against victims should be suspended immediately, and HMRC should be instructed to utilise its wide-ranging powers of debt forgiveness. Victims should not be pursued for payments they should never have been made liable for in the first place. Rather, the government should direct its resources towards tracking down and holding accountable the perpetrators of these fraudulent schemes and advice, with a concerted effort to recover stolen funds. ”
Sarah Bool MP - Co-Chair of the Investment Fraud Committee, MP representing South Northamptonshire.
“We will fight for the rights of investment fraud victims"
Alex Sobel MP, Co-Chair






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This is not an official website of the House of Commons or the House of Lords. It has not been approved by either House or its committees. All-Party Parliamentary Groups are informal groups of Members of both Houses with a common interest in particular issues. The views expressed in these webpages are those of the group.


