What to do in the wake of a scam
1. Immediately cut off communication with the scammer.
You might be tempted to keep corresponding with the criminal, hoping you can persuade them to return your money or that they’ll let slip some information that will help law enforcement catch them. But scam prevention experts say continued communication is unlikely to help. “Don’t engage any further with the scammer under any circ*mstances,” says Michael Bruemmer, head of Global Data Breach Resolution at credit reporting company Experian and a fraud expert. “There’s nothing good that would come out of that.”
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2. Notify your bank and credit card companies.
Your bank and your credit card company should be your first two calls, says Amy Nofziger, director of victim support for the AARP Fraud Watch Network. If scammers already have gained access to your bank account, the bank can change your account number to deny them further access.
Check your recent credit or debit card transactions, and tell your financial institutions if you spot any fraudulent charges, says the Federal Trade Commission (FTC): “Ask them to reverse the transaction and give you your money back.”
Lisa Schifferle, a senior policy analyst in the Consumer Financial Protection Bureau (CFPB)’s Office for Older Americans, suggests that you also contact anyone else who’s made a payment to a scammer on your behalf, such as a wire transfer service or gift card company. “Ask them to stop payment, and see if you can get your money back,” Schifferle says. It may be a long shot at best, she says, but is worth a try.
3. Change your passwords.
Darius Kingsley, head of consumer banking practices at JPMorgan Chase & Co., recommends that you change your passwords as a precaution — and don’t stop with just the financial accounts. “You’re better off just going and changing those kind of major passwords, even if it’s a major online retailer or your personal email account,” he says. “I would recommend that you lock those down by changing them very quickly.”
4. Document the scam.
Gather evidence of fraudulent transactions and communications with scammers, and any information that might possibly help to identify the criminals, says Zulfikar Ramzan, chief scientist and executive vice president of product and development at Aura, which offers "an all-in-one online safety solution" to protect against issues such as identity theft and financial fraud. If you have an identity theft insurance policy, amassing this sort of information is especially crucial.
“You want to make sure that you have all of your receipts and all of the documentation in one place,” notes Josh Planos, vice president of communications and public relations for the BBB. Whatever information you’re able to gather will be a help to investigators, and may even improve your chances of recovering money that you’ve lost.
5. Report the scam.
Bruemmer recommends filing a police report with your local department to document the scam. You also should report scams to the FTC at ReportFraud.ftc.gov. The agency shares information with more than 2,800 law enforcement agencies.
FAQs
If you yourself have been scammed, it will be helpful for you to find ways to take care of yourself – such as leaning on your support system of caring family and friends, taking time for self care activities, and not getting caught in negative or distorted thought patterns associated with the fraud/scam.
How do you deal with the aftermath of a scam? ›
If you yourself have been scammed, it will be helpful for you to find ways to take care of yourself – such as leaning on your support system of caring family and friends, taking time for self care activities, and not getting caught in negative or distorted thought patterns associated with the fraud/scam.
Is there anything I can do after being scammed? ›
Federal Trade Commission: Contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP (1-877-382-4357) or use the Online Complaint Assistant to report various types of fraud, including counterfeit checks, lottery or sweepstakes scams, and more.
How do I recover a scam amount? ›
Contact the company or bank that issued the credit card or debit card. Tell them it was a fraudulent charge. Ask them to reverse the transaction and give you your money back. Did a scammer make an unauthorized transfer from your bank account?
What should you do if you believe you have been scammed? ›
Act fast to prevent further losses
Contact your bank or card provider immediately to report the scam. Ask them to stop any transactions. If you're not sure if you're being scammed, stop sending money. Scammers will keep asking for more money until you stop.
How to forgive yourself after a scam? ›
Page 1
- Write yourself a forgiveness letter and give yourself the permission and understanding to learn from the past. ...
- Forgive Yourself.
- Recognizing what you are feeling can help you understand why you are feeling this way. ...
- Accept Your Emotions. ...
- Many victims of fraud report feeling profound shame and self-blame. ...
- Overcoming.
Victims may fear judgment or ridicule from family and friends, causing them to deny or downplay the situation, even refusing to report the crime or cooperate with the police. Emotional Manipulation: Scammers often use emotional tactics to exploit victims, fostering feelings of trust, friendship, or even love.
How do I get happy after being scammed? ›
At a Glance
Through self-compassion, patience, inner work exercises, and social support, scam survivors can work through their emotions, rebuild their confidence, and regain control of their lives.
Do you ever get your money back after being scammed? ›
If you've paid for something you haven't received, you might be able to get your money back. Your card provider can ask the seller's bank to refund the money. This is known as the 'chargeback scheme'. If you paid by debit card, you can use chargeback however much you paid.
How do you bounce back from being scammed? ›
Here's what the experts recommend you do as soon as you notice any suspicious activity or suspect that you have been scammed:
- Notify your bank or credit card issuer. ...
- Consider filing a complaint with the Federal Trade Commission. ...
- Document the details. ...
- Consider a credit freeze.
If you spot a scam or have been scammed, report it and get help. Don't be embarrassed about reporting a scam. Because the scammers are cunning and clever there's no shame in being deceived. By reporting it, you'll make it more difficult for them to deceive others.
Can a bank recover scammed money? ›
Depending on the amount of stolen money, the type of scam, and the time it took to report it, banks can reimburse (or recover) your lost money.
How to track down someone who scammed you? ›
Contact details. Even fake names, accounts, and spoofed emails and phone numbers can help investigators track down scammers. Conversations. Take screenshots of texts and social media messages — especially anything that may help identify the scammer.
How do I start over after being scammed? ›
What to do in the wake of a scam
- Immediately cut off communication with the scammer. ...
- Notify your bank and credit card companies. ...
- Change your passwords. ...
- Document the scam. ...
- Report the scam. ...
- Protect your credit. ...
- Remain vigilant. ...
- Share your experience with someone you trust.
If you or someone you care about is the victim of a fraud, scam or financial exploitation, you can report the fraud or scam to the Federal Trade Commission (FTC). Because all scams are different, you might have to reach out to a number of other local, state, and federal agencies depending on your situation.
What not to do when you get scammed? ›
And never deposit a check and send money back to someone. Stop and talk to someone you trust. Before you do anything else, tell someone — a friend, a family member, a neighbor — what happened. Talking about it could help you realize it's a scam.
How do you heal a scam? ›
Start by reporting the scam
Contact your bank or credit card issuer immediately to report the scam and request a new account number and/or debit or credit card, says Mason Wilder, a certified fraud examiner.
Can being scammed cause trauma? ›
Some victims of financial fraud are upset for a few days and move on while others may develop full-fledged Post Traumatic Stress Disorder (PTSD). Some victims may have an uncomfortable relationship with money for years after experiencing financial fraud.
How long does it take to recover scammed money? ›
For example, banks usually issue refunds within 7 to 10 days for transactions involving a stolen debit card or unauthorized electronic fund transfers. For more complex cases, like those involving considerable sums or intricate tactics like a check scam, most banks will resolve claims within 10 to 45 days.
What are the effects of scamming? ›
Human impact
Fraud can have a devastating impact on these victims and increase the disadvantage, vulnerability and inequality they suffer. Fraud can also cause lasting mental and physical trauma for victims. Fraud also results in lost opportunities for individuals and businesses.
