Recovering Stolen Funds
The difficulty of recovering money from a scammer depends on how they were paid. Did the scammer ask you to send them gift cards or cryptocurrency? If so, then unfortunately there is a very high likelihood that the money cannot be recovered. Regardless, you can still use the instructions to attempt a recovery for gift card funds. For cryptocurrency, you will need to contact the broker or service that you used to purchase and send the cryptocurrency to the scammer.
The Federal Trade Commission has again prepared a list of recommended steps for recovering funds lost in a scam. You can use the steps they provide to alert your bank, dispute charges, and take the necessary actions with the three major credit bureaus.
The three credit bureaus (Experian, TransUnion, and Equifax) have also prepared steps on how to place freezes and alerts on your credit. You can read Equifax’s instructions , TransUnion’s instructions , and Experian’s instructions .
If the transaction occurred with your credit, debit, or ATM card, you will need to contact your bank. Disputing charges on a credit card is generally more reliable than doing so on a debit or ATM card, but you can still find instructions on disputing debit and ATM transactions . For credit cards, you can use the FTC’s instructions .
You can also attempt to recover money wired to the scammer. However, it is typically not possible to recovery wired money. We still recommend that you read the FTC’s guide on attempting recovery . It is also advisable to contact your bank as soon as possible.
If the money was sent to the scammer through a money transfer app, such as PayPal or Zelle, you will need to contact that company. Each company will have a different set of steps that you will need to take, so we recommend contacting their customer support team for guidance.