How to Avoid Being a Victim of a “Recovery Scam”

So you know you’ve been scammed out of $1,000. You are emotional and upset, but understandably so. Post on Twitter to notify your friends and family so they don’t fall victim to the same scammers. Then out of the blue, a “recovery agent” contacts you claiming you can get your money back. Don’t let ill-wishers add insult to injury. Here’s what you need to know about “recovery scams” and how to avoid them.

How do recovery scams work?

after suffering With the first scam, you will be contacted via phone, email, or social media by someone claiming to be a scammer. Government officials, lawyers, or “recovery agents.”“ They may claim they already have your money or become Cooperate with public authorities or courts to distribute recovered material funds. They tell you to get your money back. prepaid fee. If you were roped, they probably They will come back to you for more handouts to cover additional “fees” or to pay taxes. of Scammers keep demanding money from you until you are wiped out or finally finished Please understand what is going on.

recovery cheater They prey on your frustration at being ripped off by promising to fix everything for you.If If your online account has been hacked, scammers may claim to be “account recovery agents” experienced in getting compromised accounts out of the wrong hands.

These scammers are very prolific in the cryptocurrency space, a relatively new market with many inexperienced users making them easy targets. Look for people who tweet or post on and try to find the next clue.

Scammers may also find seemingly gullible victims via “sucker lists.” Federal Trade Commission (Fair Trade Commission). These lists circulating within the fraud community contain a lot of personal information such as social media handles, phone numbers and email addresses. (This explains why you may be contacted shortly after being scammed, even if you haven’t publicly posted about the scam.)

like we have advised in the pastunless you personally know the recipient, Never send money through Zelle, PayPal Friends and Family, or peer-to-peer Venmo as there is no way to get your money back from us.If you have any problems please use these services. This is especially dangerous if this person claims they can give you your account back or refund your money.

Can someone help me if I am deceived?

the sad reality is there teeth no fraud recovery police, general law enforcement have In particular, we are under no obligation to collect money on your behalf When Scammers Are Likely another state or another state Country. Never believe “official” agents who claim they can help you collect funds. or your social media accounts.never pay prepaid fee or to someone your bank account information.

What should I do if I am scammed?

The best thing you can do is contact your bank and let them know what happened.. Next, report fraud to FTC and the Federal Bureau of Investigation Internet Crime Complaint Center. You can also let us know your of the state Prosecutor General, You Can Help Others Avoid Suffering same experience. If the scammer claims to be from a legitimate business, report the business to the same agency and of Better Business Bureau.

Before providing your personal information (or money), business, research it Reputable sites like scam advisor, website validatorWhen Invalid URLyou can see the good reputation (or not) These collection businesses.

immediately rreport situation and contact Your financial institution may improve chance to get money back, notes of National Consumer Law Centerbut by means of fraud, may not be likely to be perfect.