Have you ever been a victim of online scams? 

If yes, you’re not alone.

According to the Federal Trade Commission, 2.6 million people reported being scammed in 2023, resulting in over $10 billion loss.

Because of the huge financial losses, it’s natural for scam victims to feel devastated and confused about what to do next. 

In this article, you’ll learn what to do after being scammed, how to recover from an online scam, and how to avoid being a scam victim. 

The Negative Effect of Online Scams

Emotional and Mental Trauma

After a scam, the victims struggle with feelings of shame, anger, anxiety, and even depression. 

A 2024 study by Cybersecurity Ventures shows that more than half of scammed victims experience intense emotional pain.

Instead of isolating yourself, confront your emotions and seek support from family, friends, or mental health professionals. Doing this would make it easier to recover emotionally from the loss and trauma.

Financial Loss

How much do people lose to digital scams?

A 2024 report shows that some victims lost nearly $2,000 to online fraud, while others lost hundreds of thousands.

Other financial consequences of online scams include:

• Stolen funds
• Identity theft
• Empty bank and savings accounts
• Loan Fraud

These financial losses can cause serious challenges, so it’s essential to avoid them by recognizing the different forms of cyber scams.

The Top 3 Online Scams to Watch Out for in 2024

Phishing Scam

Phishing scams are a popular form of cyber scam. They usually involve emails or messages that deceive people into revealing sensitive personal or financial information.

Although phishing scams appear outdated, many people continue to fall victim to them yearly. This is especially common among less digitally savvy people, as scammers constantly evolve tactics to trick innocent people.

Customer Support Scam

In customer service scams, scammers modify the support desk URLs of popular organizations. They then share and forward these links around social media platforms to make unsuspecting customers think they are legitimate. Opening this link exposes the user to malware attacks or asks for sensitive financial information, which scammers use for fraud.

Romance Scam

Romance scams are common in long-distance relationships. Scammers manipulate the victims emotionally into sending funds for big projects or health care.

Romance scams are harmful because they can take a long time for the victim to detect. If nothing is done immediately, this type of fraud can lead to severe emotional and mental trauma.

What Should You Do After a Scam?

Protect Your Bank and Social Media Accounts

Upgrade your passwords

After a scam, the first step is to change all your passwords to more secure ones, different from those you used before.

Here’s how to upgrade your passwords:

• Use both uppercase and lowercase letters, numbers, and symbols.
• Make your password at least eight characters long.
• Avoid using common words or number sequences like your birthdate or “12345.”
• Mix up the characters to make it harder to guess.
• Never reuse a password you’ve used on another website.

Enable Two-Factor Authentication (2FA)

Statistics show that accounts with 2FA are less susceptible to fraud. Follow the instructions provided by your service provider to enable 2FA for any social media account you use.

Monitor Your Bank Accounts and Transactions

Some online scams operate long-term rather than immediate. Monitor all your bank transactions and request your bank’s weekly or monthly financial reports. Doing This will help you stay current on all transactions after the fraud.

Record All Evidence of the Scam

Getting back your funds after a scam is only possible with substantial evidence of the communications between you and the scammer. Gather all documents, including emails, messages, and transaction records, and keep them safe.

Recording every interaction in an orderly manner will help in reporting the scam or pursuing legal action.

Report to the Appropriate Authorities

The next step is to report the scam to the appropriate authorities.

The Federal Trade Commission (FTC) in the United States handles scam cases, while Action Fraud is responsible for this in the United Kingdom.

Here are some authorities that handle fraud and scam cases across various countries:

Argentina –  Jefatura de Gabinete de Ministros 

Australia – Australian Competition & Consumer Commission 

Australia – Australian Cyber Security Center

Austria – Cyber Crime Competence Center

Belgium – Center For Cybersecurity, Belgium 

Brazil – Center for Studies, Response and Treatment of Security Incidents in Brazil

Bulgaria – General Directorate for Combating Organised Crime

Canada – Canadian Centre for Cyber Security 

China – Beijing Municipal Public Security Bureau

Cyprus – Cyprus Police

Denmark – Politi

Estonia – Politsei 

France – Ministry of the interior and overseas territories

Germany – Polizei

Hong Kong – Hong Kong Police Force

Japan – Japan Anti Fraud Organization Frauds 

Kenya – Directorate of Criminal Investigations Internet Crime 

New Zealand – Department of Internal Affairs Scams

Portugal – Policia Judiciaria 

South Africa – CSHUB-CSIRT 

South Korea – Ministry of Justice

Spain – National Police

Sweden – Polisen 

Switzerland – Suisse ePolice

United Kingdom – National Fraud And Cyber Crime Reporting Center 

United States of America – Federal Trade Commission & FBI

Report Accounts On Social Media and To Your Bank

Contact your bank to block your debit cards and prevent further unauthorized withdrawals from your bank account. If a scam happens on social media, report the account to the social media platform so they can block or close it to protect yourself and others.

Other Important Scam Recovery Options

Scam Resolution Services

Some professionals specialize in scam recovery. Scammerhunter is one service that assists individuals in recovering lost funds and identifying scammers.

Here are some services they provide:

• Review of scam information (names, phone numbers, email addresses)
• Identity verification to uncover the scammer’s real name
• Social media profile searches to investigate online activities
• Domain history investigations to trace digital footprints
• Asset investigation to uncover financial links
• Precise location investigation of the scammer

How to Avoid Falling Victim to Online Scams in 2024

Awareness and Self-Education

Learning about scams and the techniques scammers use can help you avoid becoming a victim. You can get regular updates about current scam trends and tips for protecting yourself on Scammerhunter.

Increase in Digital Security

The more secure you are in the digital world, the safer you’ll be from online scams.

Below are some tips to improve your digital privacy:

• Use strong, unique passwords for all online accounts.
• Activate two-factor authentication (2FA).
• Keep your backup codes handy if you get locked out of your accounts.
• Avoid using public Wi-Fi networks for sensitive activities.
• Share less personal information online, such as your current location or address.
• Install security software and anti-malware programs on all your devices.
• Be cautious when opening suspicious links or emails from unverified sources.

Research and Verify Before Shopping Online

Some online vendors, especially on social media, are scammers pretending to be legitimate businesses. Before making any purchases, verify all the information you receive.

Do the following to avoid being scammed by online vendors:

• Check and cross-check details. Find apps like Truecaller that can help verify phone numbers and warn you of possible fraudsters.
• Read reviews to learn about the vendor’s legitimacy. While some online reviews may be fake, thorough research can provide clues about the vendor.
• If possible, suggest paying on delivery. This option allows you to examine the product before making a payment.

Conclusion

The aftermath of a scam can be challenging, but recovery is possible with the right steps. Act promptly to protect your accounts, gather evidence, and report the fraud to the relevant authorities.

Safeguard yourself against digital scams by staying informed, using strong privacy and security measures, and seeking help from reputable scam recovery services if necessary.

Frequently Asked Questions (FAQs)

1. What should I do after being scammed?

First, protect your accounts by updating your passwords. Gather evidence of all interactions with the scammer and report the scam to the relevant authorities.

2. How can I get my money back after a scam?

Get help from the bank or financial institution to trace or reverse the money transfer. Expert scam recovery services like SCAMMERHUNTER can also assist in recovering lost funds and identifying scammers.

3. Who can help me get my money back from a scammer?

To get your money back from a scammer, you need an expert in scam recovery and repayment. Search online for reputable scam recovery services like Scammerhunter or get recommendations from other scam victims. Be cautious of recovery services that ask for payment without guaranteeing success.