How To Get Your Money Back From a Scammer

Can You Get Your Money Back If You Were Scammed?

You may be able to recover money you’ve accidentally sent to a scammer, depending on how you paid and when you report the fraud.

Most banks, gift card companies, money transfer companies (like Zelle, Cash App, and Venmo), and even some cryptocurrency exchanges have methods in place for reporting and disputing fraud — if you act quickly enough.

1 in 3 Americans experienced financial fraud or were targeted by a scam last year — with nearly 40% of victims losing money.

Becoming the victim of a scam can be frustrating and even embarrassing. But the faster you accept the situation and report the scam, the better chance you’ll have of recovering your lost money.

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What To Do If You’ve Been Scammed Out of Money

Recovering money from a scammer can be a long and time-consuming process. Rather than remain vulnerable, the first thing you should do is take steps to prevent further damage — and gather information that will help with your recovery case:

• Break off contact with the scammers and stop sending them money or information. Resist the urge to call out the fraudster before documenting text message and online conversations, social media profile photos, URLs, email addresses, phone numbers, and other details of the scam.

• Contact your financial institutions. Contact your bank and other impacted companies. Explain what happened, and ask them to freeze or cancel your cards and accounts.
• Freeze your credit with all three bureaus. Contact each of the three major credit bureaus — Experian, Equifax, and TransUnion — and request a credit freeze. This can prevent fraudsters from using your personal information to take out loans or open accounts in your name.
• File an identity theft report with the proper government agencies. If you gave the scammer sensitive information — such as your Social Security number (SSN) or financial details — file an official report with the Federal Trade Commission (FTC) online at IdentityTheft.gov. You can also report details of the scam at ReportFraud.ftc.gov — or to the FBI at IC3.gov. If you’d prefer to talk to someone on the phone, you can call the FTC’s fraud hotline toll-free at: 1-877-FTC-HELP (1-877-382-4357).
• Contact local law enforcement. If you have information that could lead to an arrest or you feel threatened, file a police report.
• Secure your online accounts and devices. Update compromised accounts with strong passwords and enable two-factor authentication (2FA). If you think your device has been hacked, run antivirus software.
• Continue to monitor your accounts and identity. Once fraudsters have your personally identifiable information (PII) — such as your credit card numbers — they can target you with ongoing scams or identity theft. Consider signing up for identity theft protection to stay safe.

💡 Learn more with our step-by-step guide on what to do if you’ve been scammed →

How To Get Your Money Back From a Scammer

Once you’ve effectively shut out the scammer, you can attempt to dispute the transaction and recover your funds. The steps you take depend on what payment method you used:

Gift cards

Scammers often request gift cards as part of their schemes. Once you share gift card numbers (and the associated PIN numbers) with scammers, they can empty any money on the card and disappear. However, if you’re quick enough, you may be able to cancel the card or reverse a transaction.

Here’s what to do:

• Contact the gift card company — for example, Amazon, Apple/iTunes, Walmart, etc. Make sure you have your proof of purchase of the gift card. The FTC has a great resource that provides contact information for companies commonly targeted in gift card scams.
• Tell the company there was a fraudulent charge made on the gift card, and ask if they can reverse the transaction. 
• Unfortunately, in most cases, you won’t be able to get refunded for gift card money that has already been spent.

📚 Related: How To Avoid the Latest Gift Card Scams →

Credit card, debit card, or bank transfers

If scammers have access to your banking details (or physical cards), contact your financial institution or card issuer immediately by using the number on the back of your card to report the fraud and cancel your compromised accounts.

Banks typically investigate the fraud and reimburse you — as long as they deem you not at fault, and you report it within the required timeline.

Here’s what to do:

• Credit card fraud: You can file a dispute over the charge and ask for a chargeback from the merchant. In most cases, the Fair Credit Billing Act (FCBA) limits liability for credit card fraud to a maximum of $50, when reported within 60 days of the date that the statement was issued.
• Debit card fraud: If someone accessed your debit account without your physical card, you’ll be covered by Electronic Fund Transfer Act (EFTA) — as long as you report the fraud within 60 days. If your card was lost or stolen, you’ll need to act quicker. If you report the loss within two business days, your bank will deduct up to $50 from reimbursements. If you report the loss after two days, but less than sixty days after receiving your last bank statement, you may only be liable for $500.‍
• Unauthorized bank transfers or check withdrawals: Contact your bank and report the unauthorized withdrawal or transfer. The bank will then generally have ten business days to investigate your claim and must correct any errors within one business day. Make sure you close any compromised bank accounts and update your online banking passwords.

💡 Did you know you can file a complaint if your bank won’t refund your lost funds? Start by sending a written follow-up. If they don’t respond, you can file a complaint with the Consumer Financial Protection Bureau (CFPB).

Payment apps (Zelle, PayPal, etc.)

Peer-to-peer payment apps, including Zelle, Cash App, Venmo, and others, have their own policies and processes for disputing fraudulent transactions.

Here’s how to dispute fraudulent transfers:

• Venmo: Venmo credit card transactions can be disputed from within the app or by contacting Synchrony Bank. For Venmo debit card and online transactions, you’ll need to open a ticket with support.
• Zelle: You can report scams and fraud on Zelle via the online form or by calling 1-844-428-8542. If you enrolled in Zelle through your bank, you’ll need to report the transaction directly to the bank.
• Cash App: Unauthorized transactions on your Cash App Card can be disputed from within the app by selecting Support > Cash App Card > Dispute a purchase. You can also contact customer support at 1-800-969-1940.
• PayPal: Unauthorized transactions on both PayPal Personal or Business accounts can be reported through the Resolution Center.‍
• Apple Pay: You can dispute Apple Card payments on your iPhone or iPad by opening the Walletapp, selecting your card, and searching for the transaction under Latest Card Transactions. Tap on the transaction, and select Report an issue.

Cryptocurrencies

Recovering lost cryptocurrency is incredibly difficult due to the decentralized and anonymized nature of transactions. Your best bet is to report the fraud to the crypto exchange involved and request a refund.

• Coinbase: Gather details of the scam and contact the Coinbase support team.
• Binance: Contact Binance support or report the scam directly by using the scam self report tool.
• Kraken: Sign in to your account and use the online scam reporting page.
• Gemini: Submit a complaint to Gemini Support via the Contact Us page.
• Crypto.com: You can only dispute fraudulent transactions on your Crypto.com Prepaid Debit Card.

💡 Pro tip: Crypto recovery services are almost always a scam. Don’t trust anyone who claims they can recover your lost cryptocurrency.

Wire transfers or ACH transfers

Wire and ACH transfers happen quickly — making them difficult to stop. If you’ve been tricked into sending money to a scammer (or the wrong account number), contact the wire transfer company immediately — for example, Western Union, MoneyGram, Wise, etc. Explain that it was a fraudulent transaction and ask the company to reverse the charges. 

Wire transfers take different amounts of time to complete. For example, if you sent the money internationally, you may have up to 30 minutes to cancel the transaction. 

If you made an ACH payment, you have 24 hours to request a reversal. You may be able to submit a reversal request online or over the phone, but some banks require a written form.

Cash

In some types of scams, fraudsters send Ubers to collect cash or trick you into sending cash via the mail. Unfortunately, in most cases, stolen cash is almost impossible to recover.

If you send cash via the U.S. mail, you can try contacting the U.S. Postal Inspection Service at 877-876-2455. Explain the suspected fraud, and request that the postal service intercept the package before it reaches the scammer. 

Learn more about redirecting a domestic shipment that hasn't yet been delivered or released for delivery.

How To Protect Yourself from Scammers and Fraudsters

Scammers are only getting more sophisticated in creating schemes to get you to send them money. Sensitive information leaked in data breaches, realistic-sounding investment scams, and AI-powered phishing campaigns can fool even the most cautious and tech-savvy.

Here are some of the best things you can do to proactively protect yourself and your family against identity theft and fraud:

1. Use strong, unique passwords on every account so that they are hard for hackers to guess or crack with brute force attacks. 
2. Enable multi-factor authentication (MFA) and use an authenticator app rather than SMS verification.
3. Beware of phishing and smishing attempts. Learn the red flags of these common online scams and how to prevent phishing.
4. Always use a virtual private network (VPN) when accessing public Wi-Fi. Aura includes a built-in VPN with military-grade encryption to hide your online activities from hackers.
5. Use antivirus software to protect your devices from malware threats. Regular scans keep your devices safe and protect sensitive information in the event of a hack. You can also install browser security add-ons and plug-ins to protect your privacy online. 
6. Get familiar with your bank’s security protocols and features. Knowing how your bank will legitimately contact you is important; this will prevent you from being taken in by spam texts or emails. Also, make the most of your bank’s security features to protect your financial accounts.
7. Make diligent peer-to-peer payments. You shouldn't send money to people you don't know. Also, never remove the phone number from your Zelle or Venmo accounts at the behest of random callers — even if they claim to be from a bank. 
8. Safeguard your financial records. Shred any paperwork containing sensitive information, including bills, statements, and your SSN. If you keep hard copy records, ensure that they are stored in a locked safe.  
9. Monitor your credit report. Get in the habit of reviewing your credit report and bank statements each month. If you spot any suspicious activity, consider a credit freeze. Aura includes three-bureau credit monitoring and will alert you in near real-time of any changes, new accounts, or hard inquiries.
10. Maintain an emergency contacts list of important authorities to contact in the wake of suspected fraud — for example, emails and numbers for your bank, credit card companies, and local police station. This printed list needs to be readily accessible if you lose your wallet and need to make contact immediately. 

For peace of mind and round-the-clock monitoring of your most sensitive accounts and information, consider signing up for Aura.