Fake adviser, fake investment: how can you check a professional before entrusting them with your money?

An adviser calls with an investment reserved for a few clients. Their pitch is precise, their website reassuring and their documents display an ORIAS number. They know the markets, answer your questions and promise attractive returns. Everything seems serious. Yet none of these appearances establishes their legitimacy.

Financial scams may use a fictitious company, but also the identity of a real professional. The firm's name exists and its registration is real, but fraudsters use this information to exploit your trust.

Before signing or making a transfer, three questions therefore need answers: Is the professional authorised for the proposed activity? Does your contact really work for them? Are the investment and payment arrangements genuine?

Here are the checks to carry out systematically.

Why a fake financial adviser can seem entirely credible

Financial fraud is not always recognisable by error-filled messages or extravagant promises. Some scammers copy the usual wealth advisory process: a phone interview, sales presentation, questionnaire, contract and client portal.

The French Financial Markets Authority warns in particular about impersonation of authorised professionals. Fraudsters can copy a name, logo, address or regulatory references. A website address almost identical to the genuine institution's can create confusion. Finding a company in an official register therefore does not prove that you are dealing with it.

Fraud must also be distinguished from financial risk. A genuine investment can lose money. Conversely, a screen regularly showing gains proves neither that the assets exist nor that you can recover your money.

Your aim is to check facts before assessing the commercial opportunity.

Financial scams in figures

Financial scams are a growing threat to French savers. According to the French Financial Markets Authority (AMF), 16 % of French people reported in 2025 having already been victims of financial fraud. The proportion reaches 32 % among those under 35. In 2025, the AMF and ACPR added more than 1 300 new unauthorised sites or operators to their blacklists and recorded almost 891 impersonation cases. The Paris public prosecutor's office also estimated losses from financial fraud at at least 500 million euros a year. In view of these risks, checking a professional's identity and authorisations before entrusting them with money is an essential precaution.

Sources:

ACPR / AMF – 2025 Report

AMF – Losses from scams

AMF – Check a professional

1. Identify the professional and activity precisely

Before discussing returns, ask who you are dealing with.

Obtain the firm's legal name, address, SIREN number, your contact's identity and professional references relevant to the activity. The trading name on a brochure may differ from the company's name: this must be clearly explainable.

The description “wealth management adviser” alone does not identify every activity a person may carry out. Depending on the services, several statuses may apply, such as financial investment advice, insurance intermediation or banking intermediation. Our guide to wealth management professionals helps distinguish their roles and areas of activity.

The right question is therefore: under which status are you acting for this specific transaction?

A SIREN number identifies a company. It does not, by itself, authorise the offering of financial investments. Likewise, a status valid for one activity must not be taken as general permission to market every product.

2. Check ORIAS registration and registration categories

TheORIAS maintains the official register of insurance, banking and finance intermediaries. It allows you to check, in particular, financial investment advisers, insurance intermediaries and intermediaries in banking transactions and payment services.

Search yourself, directly on the official website. Do not rely solely on a certificate your contact sends you.

What should you compare in the ORIAS register?

Check in particular:

• the professional's exact name;
• the registration number;
• the address and available identification details;
• the registration categories;
• the current status of the registration being checked.

Check consistency between the identified person and the proposed service. Registration in one category does not replace registration required for another activity.

Does an ORIAS number guarantee protection against scams?

No. It is one verification point, but guarantees neither an investment's return nor the identity of the person contacting you.

A scammer can copy an authorised professional's number. After checking registration, confirm that your contact really belongs to the firm.

These checks are a first step. To go further, read our guide explaining how to check that a wealth management adviser is reliable. The aim is to cross-check several elements rather than trust a registration number alone.

3. Consult the register appropriate to the service offered

ORIAS is not the only useful tool. The appropriate register depends on the professional's type and the transaction.

Professional or service presented	Check to perform
Financial investment adviser	Search for CIF registration in the ORIAS register
Broker or other insurance intermediary	Check the registration category in ORIAS
Banking transaction intermediary	Check the corresponding ORIAS registration
Bank or investment services provider	Consult REGAFI and the services the institution is authorised for
Asset management company or fund	Consult official AMF information, including GECO where appropriate
Crowdfunding platform	Check the official lists of providers authorised for the activity
Crypto-asset services provider	Check official lists and the services covered by the authorisation

The AMF explains checks for each type of intermediary. For a foreign operator, home-country authorisation alone does not establish entitlement to provide the proposed service in France: that must also be checked.

Start from the official AMF, ACPR or ABE Infoservice websites to reach the appropriate register. Avoid relying only on a link the seller sends.

4. Confirm the adviser's identity through independent contact

This is decisive when dealing with impersonation.

The AMF recommends contacting the claimed company using contact details you find yourself. Confirm the person's connection to the institution through a channel other than the initial contact.

Call the official switchboard and ask:

• whether the person really works there;
• whether their email address is correct;
• whether the offer genuinely comes from the institution;
• whether the documents and payment instructions are genuine.

Examine the email address and domain name

A tiny difference may hide impersonation: an added letter, hyphen, different ending or extra word in the domain. The AMF expressly advises checking these details.

The name displayed in your inbox is not enough: open the sender details to read the full address.

Finally, a website's HTTPS padlock means the connection is encrypted. It does not certify the operator's honesty. A fraudulent site can also have a polished interface and secure connection.

5. Consult the AMF and ACPR blacklists

Search the organisation's name, website address and correspondence address. An alert may concern a specific domain or impersonation even though the copied company's name is legitimate.

You can consult AMF Protect Épargne and resources fromABE Infoservice.

Absence from a blacklist does not prove a website is reliable. These lists are regularly updated but cannot immediately include every new fraudulent operator. A search yielding no result must therefore be followed by the other checks.

The logic is simple: an alert is a reason to stop; no alert is not a green light.

6. Check the investment and understand its risks

Even if the professional is identified, examine the offer separately.

Ask for documentation explaining:

• the product's exact nature;
• the issuer, insurer or asset management company's identity;
• the risk of loss;
• the recommended holding period;
• withdrawal or resale conditions;
• fees and the remuneration of those involved;
• the exact scope of any guarantee.

Relevant documents vary by product: key information document, contractual terms, prospectus or other applicable regulatory information.

Checking the investment must also take your circumstances into account. Your time horizon, liquidity needs and ability to bear losses are essential when assessing an offer. To prepare the discussion, discover how to determine your investor profile. A genuine product may still be unsuitable for your objectives.

An advertised return does not explain how the product works

An offer must be describable in terms other than its return.

Where does the return come from? Who bears the risk? Under what conditions can you exit? What happens if the issuer gets into difficulties?

A phrase such as “capital guaranteed” needs clarification: by whom, at what date and under what conditions? It does not necessarily mean your money is available at any time without loss.

Beware of claimed guarantees from authorities

A seller claiming an investment is guaranteed by the AMF, ACPR or Banque de France is using an argument that should raise alarm. These authorities do not guarantee the performance of the product offered.

Do not confuse regulatory authorisation, institutional supervision and a contractual guarantee.

7. Check who will actually receive your money

Before transferring funds, identify the beneficiary and check consistency with the contractual documents.

Depending on the transaction, the beneficiary may be an insurer, financial institution or another entity specified in the contract. It may not share the trading name of the advising firm. But any difference must be explained and independently confirmed.

A last-minute bank detail change, a request to pay an individual or instructions differing from the original documents justify stopping the transaction.

Can a CIF receive your investment capital?

In financial investment advice, a CIF must not receive client funds intended for investment. They may, however, receive payment for advisory services. Distinguish fee payment from transfer of the capital to be invested.

If your contact asks you to transfer personally to them the savings they claim to invest, demand clarification and have the payment route checked before acting.

Request a written breakdown of fees, any commissions and product charges. Understand what you pay, to whom and for which service. Our guide to wealth management adviser fees helps prepare questions about the professional's remuneration.

Warning signs of a fake investment

No single clue covers every situation. An accumulation of warning signs should, however, lead you to stop.

Pressure to decide immediately

The offer supposedly expires in hours, a quota is almost filled or the adviser insists you transfer funds during the call.

This urgency mainly prevents you checking. Set your own pace: a wealth decision must allow enough time for assessment.

Presenting gains while obscuring risks

Positive scenarios dominate the discussion while possible losses are minimised. You hear “no risk” or “certain return” without a sound explanation of what these mean.

Ask for a concrete adverse scenario. A vague answer is a reason to slow down.

Obstacles as soon as you try to withdraw

The AMF warns about requests for additional sums described as taxes or fees needed to release funds. Paying more to recover a suspicious investment may prolong the scam.

A successful first withdrawal must not replace checks on the firm and product either.

Online reputation used as the sole proof

Positive reviews, followers and testimonials cannot confirm regulatory authorisation.

Treat this information as supplementary. It replaces neither official registers nor independent identity confirmation.

Checklist before signing or transferring funds

Before committing, make sure you can answer “yes” to these questions:

1. Have I identified the company and my contact?
2. Have I checked the status for the proposed activity?
3. Have I consulted the official registers myself?
4. Have I confirmed the contact with the genuine firm?
5. Have I searched for alerts and impersonation?
6. Do I understand the product, fees and risks?
7. Have I checked exit conditions and advertised guarantees?
8. Have I confirmed the payment beneficiary's identity?
9. Have I retained documents and correspondence?
10. Have I decided without sales pressure?

A “no” does not automatically mean fraud. It indicates a check remains necessary before committing your money.

What if you think you have already been scammed?

Contact your bank immediately using its usual details. Explain what happened and ask whether a transfer recall or other measures remain possible. Speed can matter, but recovery is not guaranteed.

Keep evidence: emails, messages, contracts, bank details, payment receipts, web addresses and screenshots. Report to the police or gendarmerie, or use the official online reporting system if eligible. You can also notify the relevant authority.

If you shared login details, secure the affected accounts. If you sent identity documents, mention this when reporting and watch for fraudulent use.

Finally, beware of people contacting you again promising to recover losses for an upfront payment. Victims may be targeted again, this time with a promise to return their money.

FAQ: checking a financial adviser and avoiding fake investments

How can I tell whether a financial adviser is authorised?

Identify the activity, then consult the corresponding register: ORIAS for relevant intermediaries, REGAFI for institutions covered by it, or the French Financial Markets Authority's (AMF) official lists for the service concerned. Then check that your contact genuinely represents the identified firm.

Can I trust an ORIAS-registered adviser?

ORIAS registration is an important check, but does not guarantee reliability by itself. Check the category, authorised activities and your contact's identity. A fraudster can impersonate a real professional using their name, contact details or ORIAS number.

Is an investment absent from the AMF's blacklists reliable?

No. Absence from the AMF's blacklists does not guarantee an investment or intermediary is reliable. The lists are not exhaustive: a fraudulent platform may be new or not yet publicly flagged. Checking authorisations and the proposed investment's features is therefore essential.

Can a reputable financial adviser offer a risky investment?

Yes. An investment carrying capital-loss risk is not necessarily fraudulent. Risks must, however, be clearly explained and advice tailored to the investor's situation, objectives, knowledge and risk tolerance. Authorisation to practise guarantees neither capital security nor investment performance.

Should I check an adviser recommended by someone close to me?

Yes. A personal recommendation may help find a professional, but does not replace regulatory checks. Before entrusting money, check identity, authorisations, professional contact details and investment terms. These precautions remain necessary even when the introduction comes from someone you trust.

Does a professional directory replace official registers?

No. A professional directory helps discover advisers, compare expertise and prepare contact. You can read our page explaining

how companies listed in the Les Experts du Patrimoine directory are checked
.

This does not replace checks before a financial transaction. Consult official registers for the activity and directly confirm your contact's identity and details with the firm concerned.

Take time to check before entrusting your money

Choosing a wealth professional means understanding their role, status and way of working. The relationship matters, but must rest on verifiable facts.

Before committing, keep three habits: check authorisation, confirm identity and verify your money's route.

To start your search, you can find a wealth management adviser near you and compare professionals' areas of activity. Then complement this initial selection with official checks suited to your project. A professional who welcomes questions and allows time for checks helps you decide under better conditions.