What Should You Do if You Think You’ve Been Scammed?
The thought of being scammed can be scary, particularly when the potential threats seem to be ever-changing and evolving. Unfortunately, falling victim to a scam can happen to anyone, so it’s important to be prepared, and know exactly what you should do if it ever happens to you.
Elderly people are particularly vulnerable to financial scams because they are often specifically targeted by scammers. To ensure your financial and personal information stays safe and secure, here’s four steps you should take if you think you’ve been scammed.
Block your card
One of the benefits of being able to manage your money digitally is that you can block your bank card on the go, no matter where you are. Blocking your card immediately is crucial if you’ve fallen victim to a scam whereby you’ve given out your card information, as this will prevent the scammer from being able to use your card details to make purchases.
If you’re not able to access your account on the go, it’s crucial you speak to your bank instead and explain what has happened, so they can put the appropriate security measures in place for you.
Speak to your bank
Once you’ve done what you can on your end, you should report the scam to your bank. They’ll be able to advise you on what you need to do next, up the security on your account, and even help you to get your money back from the scammer in some cases.
If you’ve noticed a fraudulent charge on your card or have transferred a sum of money to someone whom you can prove to be a scammer, your bank may be able to issue a chargeback to your account.
Report the crime
There’s only so much your bank will be able to do, and while they might be able to get you your money back in some cases, it’s imperative that you report the crime so that the scammer isn’t able to take advantage of anyone else.
Contact your local police station to find out the best way to report the fraud. They’ll want to know exactly what happened to make you think that you’ve been scammed. These kinds of crimes are prolific and can be incredibly damaging, so any information you’re able to give will be extremely helpful in cracking down on the issue.
Seek support
Being scammed can feel really upsetting. Not only have you lost what could potentially be a very large sum of money, you’ll likely feel quite vulnerable and afraid following the ordeal.
Remember that what happened isn’t your fault, and you’re a victim in this situation. It’s important to surround yourself with people who can help you, whether that’s friends and family or a dedicated support group. It might take some time to come to terms with the fact that you’ve been a victim of a scam, and that’s OK – but you will overcome it.
How can you spot a scam?
Scammers can be incredibly adept at deceiving people. They may pose as one of your friends or family members to gain access to your information or finances, or claim to be from a trusted organization to retrieve your personal data. Unfortunately, scammers are always evolving their methods, so it can feel difficult to stay on top of the newest scams you should be watching out for.
As a general rule, always be cautious when taking any action with your finances or personal information. If you think you might struggle to spot a scam, try to conduct your financial affairs in person only, and only share your information with trusted people once you’ve verified their identities. If you’re not sure about something you’ve been asked to do, it’s best to always question it. Follow your gut, and remember to report any activity that seems suspicious.
Other Useful Information:
Federal Trade Commission Consumer Advice:
A Guide for Financially Vulnerable Adults: 30 Common Credit Scams
Guest post By Brent Fisher
The views expressed by the author may not reflect the views of Age Safe America, LLC. The content here should not be taken as medical, legal or financial advice. The content here is for informational purposes only, and because each person is so unique, please consult your own healthcare, legal or financial professional with any questions.