Courtesy of Travelers Insurance
If you’ve been scammed out of money online, it can be embarrassing to admit and scary to know what to do about it. However, becoming the victim of an online scam is all too common, with over 2.1 million people having reported fraud within the past year.1 Scammers exploit vulnerabilities and take advantage of good-natured victims. Seniors are particularly attractive targets for scammers, as typically, many are financially secure, own a home, and have good credit.2 The keys to recovering your dignity and your money from an online fraudster are knowing what to do when you get scammed and taking quick action.
Who to Contact if You’ve Been Scammed
Recovery begins with making the right contacts and knowing how you can report a scammer. Here are the organizations to contact if you’ve been scammed:
- The Federal Trade Commission (FTC)
Typically, the FTC will create a custom recovery plan for you, to help you know what to do next. The FTC uses the information you provide in your report to build a case against online scammers, notice trends, and educate the public.3 Depending on the facts of your case, you may also choose to file a report with your local police department.4
- Your Financial Institutions
It is important to report fraudulent activity on your accounts to your financial institution as soon as possible so they can attempt to reverse the transaction and get your money back. If you paid a scammer…
