Is It Possible To Recover Money From Scammers?

Scammers are getting smarter every day and coming up with entirely new methods to cheat people. In case you communicate with a professional scamster, it may be difficult to determine whether they are fake or genuine. They have your phone number and possibly name and other details. Such information can be used to masquerade as a genuine caller from a bank or government organization.

There are various ways in which people are getting scammed. Lack of awareness is often the root cause. If you or someone you know has been scammed, it may still be possible to recover the money. You need to act fast and follow the guidelines. Here’s what you can do to recover your money from scammers.

Debit or credit card transaction – You need to contact the bank that has issued the debit or credit card. Explain the situation to them and request them to reverse the fraudulent charge. It may be possible to recover your money from scammers in this manner.

Unauthorized bank transfer – Here too, you need to contact your bank and explain the situation. Tell them that there has been an unauthorized withdrawal or debit transaction in your bank account. Request them to reverse the transaction and give you your money back.

Payment made via gift card – Scammers often attempt to get you into buying a gift card and revealing the details. In case you have been scammed via a gift card, you need to contact the company that has issued the gift card. Provide all the details of the gift card that you had purchased. Request the company to block or reverse the transaction.

Payment via wire transfer – Scammers often use wire transfer platforms like MoneyGram, Western Union, Ria, etc. to cheat people. You need to contact the respective platform in case you have been scammed. All these platforms have dedicated toll free numbers to assist customers. You need to ask them to reverse the transaction.

Money transfer app – Dozens of apps are available that allow people to send and receive money. If you have been scammed in this manner, you need to contact the company that is running the app. In case the app is linked to your debit card or credit card, you need to contact your bank.

Payment made via cryptocurrency – It is quite difficult to reverse cryptocurrency transactions. Unless, the scammer himself sends back the money to you. That is quite unlikely. However, you can still contact the company that you used to transfer the cryptocurrency. They could have special provisions to deal with such situations.

Cash sent via U.S. mail – In some cases, scammers may force you into sending cash via U.S. mail. In such cases, you need to approach the U.S. Postal Inspection Service at 877-876-2455. Report the fraud and request them to intercept the package.

As evident from above, there are various ways in which you can recover your money from scammers. It is not guaranteed to work every time, but at least you can give it a try. You also need to report the scam to the Federal Trade Commission (FTC).