Launch of the Investment Fraud Committee and Amalgamation of Two APPGs
11 November 2024

Investment fraud continues to impact countless individuals

Westminster, November 2024 The All-Party Parliamentary Group (APPG) on Investment Fraud and Fairer Financial Services has officially launched its Investment Fraud Committee. This new committee represents a unified effort, following the successful amalgamation of the previous APPGs dedicated to Investment Fraud and Fairer Financial Services. Its mission is clear: to advocate for the rights, recovery, and justice of investment fraud victims, while building on the foundational work established by the former Investment Fraud APPG.


Investment fraud continues to impact countless individuals, often leaving victims feeling unsupported and overwhelmed. The APPG Investment Fraud Committee seeks to address these issues at a national policy level, focusing on comprehensive advocacy, resource allocation, and policy reform to better protect the public and provide adequate support for victims. The committee brings together parliamentarians, legal experts, and advocates, all united by the common goal of creating a fairer financial system.


Co-Chairs Leading the Charge


The committee is co-chaired by three influential figures: Carly Barnes-Short, Sarah Bool, and Alex Sobel. Each co-chair brings unique experience and dedication to this critical cause.


Carly Barnes-Short is a lawyer with a deep personal and professional connection to the issue of investment fraud. She has firsthand experience of the devastating effects of fraud through a family member's ordeal and has represented numerous victims over her career. Carly’s prior role as co-chair of the Investment Fraud APPG advisory board has positioned her as a trusted voice in the fight against fraud, with a commitment to ensuring that victims' stories and concerns are front and center in parliamentary discussions. Carly’s involvement in the committee underscores her dedication to fostering systemic change and amplifying victims’ voices in meaningful ways.


Sarah Bool MP joins as a co-chair, taking over from Caroline Nokes MP, who now serves as Deputy Speaker and thus cannot continue in the APPG. Sarah’s participation reinforces the committee’s commitment to advocacy for victims and reform within the financial services sector. Her legislative background and her engagement with constituents impacted by fraud make her a powerful advocate for those affected.


Alex Sobel, who previously co-chaired the former Investment Fraud APPG, also brings extensive knowledge and advocacy experience to the new committee. His commitment to tackling investment fraud was sparked by his work with a constituent who had been a victim, and since then, he has been an ardent supporter of policy reforms to protect the public from fraudsters. Alex’s perspective, shaped by his direct advocacy, is invaluable as the committee takes on ambitious projects and initiatives.


The Committee’s Goals and Objectives


The APPG Investment Fraud Committee aims to address several key areas of reform, from policy advocacy to direct support for victims. Some of the committee’s primary goals include:


1. Strengthening Fraud Prevention: The committee will work to push for more stringent regulations within the financial services sector to prevent fraud before it happens. This includes advocating for enhanced oversight of investment schemes, improved monitoring of high-risk activities, and promoting awareness campaigns to educate the public.


2. Supporting Victims in Recovery: Many victims of investment fraud struggle to regain their financial stability and feel a lack of support. The committee seeks to advocate for better support systems, including access to resources, legal assistance, and financial recovery programs.


3. Encouraging Transparency and Accountability: The committee will push for policies that demand greater transparency within the financial services industry, especially concerning high-risk investment opportunities. By holding institutions accountable, the APPG hopes to create a safer environment for investors.


4. Bringing Victims’ Voices to Parliament: Recognising that the voices of victims are often underrepresented, the committee intends to provide a platform for individuals affected by investment fraud to share their experiences. This initiative aims to foster greater understanding among lawmakers of the real-life consequences of fraud and the need for systemic change.


5. Promoting Fairer Financial Services: Beyond tackling fraud, the committee advocates for fairer practices within the financial services industry overall, ensuring that all individuals have access to secure, transparent, and supportive financial products.


A Unified Approach to Change


The launch of the APPG’s Investment Fraud Committee marks a significant milestone in the pursuit of a more secure financial landscape for everyone. By combining the expertise of parliamentarians and experienced advocates like Carly Barnes-Short, Sarah Bool, and Alex Sobel, the committee is poised to make a substantial impact. Their combined efforts aim to address not only the symptoms of investment fraud but also the systemic issues that allow it to persist.


Through ongoing collaboration and a commitment to reform, the Investment Fraud Committee will work tirelessly to create safer financial environments, support victims on their path to recovery, and advocate for long-lasting change. This new chapter promises an era of stronger protections, a louder voice for victims, and a financial system that values integrity and transparency.

8 August 2025
By Sue Flood When you are fighting injustice and taking on a government agency like HMRC, compassion can be hard to find. For victims of financial abuse, pension scams, and investment fraud, compassion isn’t just a nice-to-have — it’s a lifeline. And I know this because I’ve lived it. I’m one of them. Over the last several years, I’ve had the privilege — and the heartbreak — of walking alongside hundreds of victims who’ve been financially and emotionally devastated by fraud and scams. Together with two incredible women, Carly Barnes-Short and Margaret Snowdon OBE, I’ve fought to make sure these victims are seen, heard, and treated with fairness and dignity. Our campaign is not just about fixing systems. It’s about giving people hope when everything else is being taken from them. Victims from Every Walk of Life This isn’t just a story about pensions or investment schemes — it’s about people. Nurses, firemen, athletes, single mums, retired professionals. People from every walk of life who’ve fallen prey to sophisticated scams or been left high and dry by broken systems. What they share is trauma, confusion, and often shame — and far too many are suffering in silence. One of the hardest truths is that this could happen to anyone. I know that, because it happened to me. When victims come to us, they're often at breaking point — emotionally, financially, and sometimes even physically. I’ve personally taken calls from people on the brink of suicide because of HMRC. Carly has too. And I can honestly say that those late-night calls, those heartbreaking conversations, are what fuel this campaign more than anything else. Carly Barnes-Short: The Strategic Heartbeat It’s a privilege to work alongside Carly. As co-chair of the Investment Fraud Special Advisory Committee, she is the strategic powerhouse behind so much of what we’ve achieved — and one of the most compassionate people I’ve ever met. She was already campaigning tirelessly for victims in the world of sport when she learned about what was happening in the pensions space. Without hesitation, she stepped up to help us too — and has never looked back. Carly is the reason we’ve secured key meetings in Westminster and was the driving force behind the Investment Fraud APPG inquiry. She drafts legislation, leads events, builds relationships, and keeps the pressure on — all while juggling her legal career and family life. She's brought serious figures into the campaign like Lord Mann and Simon Myerson KC. Our MPs respect her. They listen to her. And most importantly, they act because of her. She leads much of the dialogue with government ministers and policymakers, always with empathy and professionalism, and sees every victim as a person first — not a case, not a number, but a human being in need of support and help. She stays up late and works on this with me every day. When things get overwhelming or we hit another wall, Carly finds another way forward. She never stops. Her work often goes unseen, but I see it — and I am endlessly grateful. Carly gives me the strength to keep going, especially on the hardest days. Margaret Snowdon OBE: The Voice of Integrity Margaret brings a level of experience and wisdom that gives our campaign real weight and credibility. She commands respect in every room she enters — not through volume, but through quiet authority and integrity. Margaret has been a consistent and principled voice for pension victims for many years, calling out institutional failure and championing fair treatment long before it was fashionable to do so. Her calm approach is a vital counterbalance to the raw emotion this work often brings. She reminds us that we can change the law — because she’s made it happen before. Margaret doesn’t need to shout to be heard. Her presence says everything. My Own Journey: From Victim to Campaigner I never set out to lead a campaign with Carly and Margaret. Like many others, I found myself here because I had no choice. As a fraud survivor, I’ve felt the devastation firsthand. And I couldn’t walk away knowing others were going through the same — or worse — with no one to turn to. With the help of my daughters, close friends, and an incredible group of volunteers, we’ve built a grassroots engine that powers media outreach, peer support, and public pressure. We’ve faced online abuse, institutional resistance, and days where the emotional toll is crushing. But we carry on — not for ourselves, but for the people counting on us. Behind the Scenes While much of our campaign plays out in public — in Parliament, the media, or out on the streets — so much of the real work happens behind the scenes. And I want to pay tribute to the people who help me and Carly keep this engine running day in and day out: my daughters, their close friends, and the brilliant Barry Lee Parker of Piston Design. This campaign simply wouldn’t function without them. My daughters and a small circle of trusted friends have worked tirelessly on everything from managing our social media, building content, updating the website, and keeping us organised. They’ve done this around full-time jobs, families, and their own lives — often late into the night. Together, this team has helped us not only build our online presence, but also organise vital moments like the parliamentary summit — which was a major milestone for our movement. They juggle logistics, liaise with media, and make sure that the front-line work Carly, Margaret, and I are doing can actually happen. Grassroots campaigns like ours are built on heart, hard work, and human connection. Thank you, from the bottom of my heart. What We've Achieved So Far Together, we have: Launched a parliamentary inquiry into investment fraud and unfair tax treatment Built a cross-party alliance of MPs, legal experts, and financial leaders Supported hundreds of victims with pro bono advice, peer support, and advocacy Organised the “Enough is Enough” march and secured meetings with HMRC and Treasury officials Pushed for reforms that prioritise compassion and affordability over bureaucracy But we’re not done. Despite all our hard work and support, the government isn’t listening — and until they do, we will keep fighting. We won’t stop until the Government, Treasury, and HMRC finally wake up to the reality of what victims are facing. Lives are on the line — and they need to start listening. I will keep fighting until they do. To Our Supporters: Thank You This campaign is nothing without the hundreds of people who’ve stood beside us — from MPs and journalists to volunteers and fellow victims. You’ve shown that compassion is contagious, and that together, we are stronger. Final Thoughts: Why We Keep Going People often ask how we do it. The truth is: we don’t really have a choice. Not when we know lives are at stake. This fight is about justice, yes — but it’s also really about compassion. Compassion for people we’ve never met, but whose stories have become part of us. To Carly and Margaret: thank you. For all your hard work without charge, for giving us hope, and most of all your compassion. You’re helping save lives. And to every victim out there: You are not alone. We see you. We hear you. And we won’t stop fighting for you. We are all in this together, and we have some great people behind us who really care. Compassion is not a weakness — it’s the greatest strength of all, and it means everything to victims. We just need HMRC and the Government to start showing it to our victims now too.
8 August 2025
According to media reports, HMRC is under fire for allegedly inflicting serious harm on vulnerable taxpayers—particularly those who have experienced financial abuse. Tax and business advisory firm Blick Rothenberg has raised urgent concerns over HMRC’s treatment of individuals caught in complex or abusive financial situations. Partner Fiona Fernie highlighted multiple cases where vulnerable taxpayers were subjected to prolonged inquiries, lack of empathy, and crushing penalties—even in situations where individuals were unaware of the income being questioned. It was reported that in one harrowing case, a woman whose husband secretly deposited and removed funds from their joint account was pursued for failing to notify HMRC of the income—despite having no knowledge of it. The severe stress led her to attempt suicide. Yet HMRC reportedly took months to conclude the inquiry and ruled she had "no reasonable excuse," while demanding backdated interest and penalties spanning 20 years.  “HMRC must improve their understanding of financial abuse and mental health conditions,” said Fernie. “They need to act with compassion, not further punish those who are already struggling.” Read the full article here: Dorset Echo – HMRC accused of causing undue harm to vulnerable taxpayers 🔍 Why This Matters to Our Campaign This article strongly reinforces the concerns at the heart of the Investment Fraud HMRC Campaign. Victims of investment and pension fraud are often re-traumatised by HMRC’s aggressive pursuit of tax liabilities, even when they were misled or manipulated into fraudulent schemes. This case shows the issue extends beyond investment scams—highlighting how financial abuse, mental health conditions, and institutional misunderstanding are leading to severe emotional, financial, and even life-threatening consequences for taxpayers. 📣 Our Message to the Government The Government must act now. This is not just about isolated failures—it’s a systemic issue. We are calling for: A clear, compassionate policy for victims of fraud and financial abuse HMRC to stop penalising victims and instead pursue the actual perpetrators Full alignment with the Victims’ Code of Practice Better staff training on financial abuse and vulnerability If you’ve been affected by HMRC’s treatment after being defrauded, we urge you to share your experience with us as we continue to campaign for justice and reform.