How to Take Legal Action and Recover Scammed Money

Being scammed is a truly horrible experience. There are so many questions that come to mind, even after all the feelings of being exploited: What should I do? Should I tell anyone? Should I take legal action? Am I able to get a refund? Is there someone who can help me recover my money after being scammed?

It’s a lot of mess in the mind.

Unfortunately, a lot of con artists are skilled at dodging both the law and their victims. To make it more difficult to undo their crimes, they move rapidly and make an effort to hide their evidence.

However, it does not mean that there are no options to recover your money after being scammed.

For instance, if you believe that the scammer is a local resident, you can take legal action to recover your money after falling victim to a scam.

However, if you don’t know the real identity of the scammer, and you’ve transferred money in cryptocurrency (which is, in fact, decentralized in nature and difficult to trace), you should consult with professionals from a reputable money recovery company.

For instance, at Online Investment Scams, we have professionals who can assist you in tracing and recovering your life savings, whether they were made in cryptocurrency or through other means.

Email the experts now:

If you take immediate action, you will be able to get back the investments that were taken from you.

The first step to being able to act quickly is understanding precisely what to do if you have been the victim of a scam.

With that, this guide can be useful. Continue reading to find out what to do if you fall victim to a scam, as well as some possible ways to get your money back.

What should you do to take legal action if you have been scammed?

What should you do to take legal action if you have been scammed

Before you take any action, it’s important to compose yourself. Don’t panic or get angry. Sometimes it feels like everything needs to be fixed right away. 

At some point, almost everyone has been defrauded. There is no need to be embarrassed about it.

Scammers are adept at manipulating and taking advantage of naive people. They exploit people who trust them the most. 

The following are some actions to take after being conned:

Cut off contact with the scammer:

First thing, stop contacting the scammer. You should immediately cease all communication with the scammer.

Make sure you stop sending money, stop any pending payments, and try to reverse any recent payments with your bank. For instance, if you had made payments with your credit card, you can cancel it within the given period of time by your bank.

The scammer might even try to scare you into making more payments. It is better to block all the communication channels than to continue being in touch and risk more exploitation.

Now when you have realized that you have been scammed, instead of getting scared, you should concentrate on obtaining the appropriate assistance, such as by contacting law enforcement, in order to lessen or repair the harm.

Likewise, confirm your online security. If you believe you may have given the scammer access to your personal or financial information, make sure you change your passwords and alert your bank or credit card company.

Scammers with access to your personal accounts might contact people on your list and try to scam them too by pretending to be you. Protect your account and get in touch with your bank as soon as possible.

Contact your financial institute:

The next immediate step you must take is to contact your financial institute to report the scam. Request that they stop all transactions. It can be your bank, cryptocurrency exchange or online banking platforms like Paypal, Payoneer, or Stripe. Whoever they are, they might help you in freezing the amount you paid.

Regardless of whether you gave the con artist access to your personal account information, you should still let your bank know so they can look out for any unusual activity.

When you inform your bank, be prepared with as much evidence of the scam as you can.

It might still be helpful, even if you do not know much. Call the customer service number for your bank or credit card if you need to report a scam.

They will transfer you to the right person, typically in the fraud department, who can help.

Do your best to respond to any follow-up questions they may have. Don’t keep anything back, even if you are embarrassed about the scam. Inform your bank of everything that might be important. 

Report the scam to the legal authorities:

You should notify law enforcement about the scam at the same time as you notify your bank. Here is how you can do it easily.

For your guidance, there is an elder resource road map to use and call your state’s elder abuse hotline to take legal action against the scammer.

Secondly, report the scam to the local police. As mentioned above, local police and FBI can only help you recover your funds for local scams.

Departments within the federal government exist to investigate and combat fraud. Depending on the kind of crime you were a victim of, a federal agency might be able to help you.

Start with the Federal Trade Commission, which handles many different types of fraud, particularly where money is involved. 

Make sure to cooperate fully with law enforcement, just like you would with your bank. Even if you feel ashamed, answer all of their questions honestly and completely, and hand them any supporting documents you may have about the scam.

Ask for a case number from each law enforcement agent you speak with. This allows you to pursue your case further.

Contact Consumer arbitration:

Consumer arbitration is a choice if suing a con artist in court seems too costly, challenging, or time-consuming. Similar to small claims court, arbitration involves the exchange of arguments between the parties and the impartial determination of the arbitrator’s decision as to who is in the right and what awards they are entitled to. 

The advantages of arbitration include: that arbitration hearings can frequently be held remotely, via phone or video conference, and are frequently faster and less expensive than starting a lawsuit.

The CFPB will conduct an investigation if the bank refuses to refund your money. Most businesses react within 15 days, and the CFPB will follow up. You can submit your complaint to CFPB here.

Contact the scam recovery company:

For those who have fallen victim to fraud, there are some legal avenues for recovering financial losses. You can report the scam to the Online Investment Scams (OIS) as one of your initial actions. 

OIS offers a centralized site where victims may report scams and get in touch with reliable recovery services designed exclusively for situations involving any type of fraud.

Remember that crypto scammers can be traced but recovering from fraud may require tenacity and patience. But if you are persistent and pursue all available legal options, you may still be able to recover what was taken from you.

The great thing about reaching out to a legitimate funds recovery company is that you are more likely to recover you life savings.

Even reaching to banks, police, crypto exchanges like Cash app and Coinbase, and social media platforms like Instagram or snapchat, everyone of those has their limitations.

But when you reach out to companies like OIS, they give you full support and go above and beyond. So if you lost a lot of money that you can’t compromise on, you should try to recover your scammed money by all means.

Many people might say that mostly funds recovery services charge money and it’s risky, you can fall a victim of scam again.

Yes, it’s true that every company will charge your upfront fee, the reason is that money is reversed to your account, and it costs a lot of money to do that!

So who would like to spend money to recover your lost funds and then hope that you will pay the fee?

No one does that!

Let’s say if you hire a lawyer to take legal action, can you ask them to do it for free?

The same is here.

Well, one thing you must make sure is that the company you hire must have a proven track record and can really help you recover your lost funds. Ask for proof and then trust the company.

Send email here to reach out to a legitimate funds recovery services.

If you were scammed in crypto, OIS has the best bitcoin recovery expert to recover scammed bitcoin or they can recovery lost or stolen crypto with their the best crypto recovery service.

Raise awareness:

It is important that you do not remain silent, wallow in self-pity, or worry about losing money. Even if you do not get your money back, consider it an expensive life lesson. 

Cybercrimes are perceived as uncommon and minor because most people who fall victim to online fraud are reluctant to contact authorities or share their stories with others.

By coming forward, you have a chance to get your money back and the emotional support you need to get over the trauma of being taken advantage of. 

Keep in mind that none of these steps guarantees that you will get your money back. Once you’ve given the money to the fraudster, it can already be too late because scammers move rapidly. However, if you are lucky and stick to these suggestions, you might be successful.