Recovery Steps

Recovering money after being scammed is not easy.

Becoming victim to fraud is a challenge in which many people do not know what to do. However, recovering that money you lost is not impossible.

Here below are some recovery steps if you were to become a victim of fraud:

1. Act fast. The faster you do something, the better chance you have at getting that money back. Report the scam as soon as you realize what happened.

2. Contact the proper financial institution right away.

2A. If you paid with a credit or debit card, the bank may be able to stop the transaction or reverse the charge.

2B.If you gave out banking information, ask your bank to freeze your account to prevent any more losses.

2C. If you paid with a gift card, contact the gift card company and explain what happened. It may be harder to get your money back when losing it in gift cards, but acting quickly may help.

2D. If you pay with cryptocurrency, contact the platform used to send the crypto and report the scammers wallet address if possible. Report this fraud to the Federal Trade Commission (FTC) and the Internet Crime Complaint Center (IC3), they may be able to trace the funds and get them back.

3. If you have not already, report the scam to the FTC and IC3. Also report the scam to your state's website.

4. Contact a fraud hotline. They can let you know what to do next and who to contact.

5. Place a fraud alert on your credit report to protect your credit score.

Following these recovery steps may help you recover your money, but it is not guaranteed.