Technology makes our lives easier. New technology is being created every day, and over time, it is integrated and implemented in our daily lives. Over the years, technology has been replacing even our basic daily chores.

We can open a bank account without leaving the comforts of our home. Thus, our society is slowly but surely moving towards a paperless society.

Nonetheless, the same technology can be used to create scams. Scammers are quite resourceful when it comes to scamming their victims online. Over time, the threat of cyberattacks has grown. In 2023, as per the Internet Crime Complaint Center, more than 800,000 people fell victim to online scams, resulting in a staggering total of more than $12.5 billion worth of losses.

These numbers are bound to be higher since many ask and wonder, “What should I do if I get scammed?”

In this article, we will show you seven actionable steps to take once you fall victim to any online scams.

Avoid Blaming Yourself

One of the hardest things that one can experience after being scammed is to forgive oneself. You must remember that you had no way of knowing that you were entering into a fraud. Even the cleverest and wisest ones fell for an online scam sometime in their lives. As per statistics, one in every four US citizens has been the victim of scams. It is best to avoid blaming yourself for being scammed online; it will help you take corrective measures and allow you to gather all the evidence leading to the scam.

With a clear head, you can think through it, which will help you recall the steps taken by the scammer. This will help you create a strong case against them and offer a fighting chance to recover your stolen financial assets.

Avoid Entertaining Scammers

It is important that you break all ties with the scammer. However, you must not destroy any evidence that links the scammer involved with the scam. You must also avoid paying any further money to the scammer. If possible, ask your bank to reverse the transaction that you may have paid to the scammer.

Act Quickly

Get in touch with the bank and also the credit rating bureau, and ask them to freeze your bank account until the investigation is completed. Request a free annual report from the credit rating agency and check for any suspicious transactions and accounts. If you find one, promptly contact the banking authorities and inform them of the fraudulent activities.

Change the Passwords

If the scammers have details of your sensitive financial account, the chances of them having access to your other banking details are also high. Request a fraud alert from all three nationwide credit rating bureaus: Experian, Equifax, and TransUnion.

It is a wiser move to change all the passwords for your sensitive details that have access to your smartphones. If possible, try to enable multi-factor authentication features for all the apps that have your sensitive information, as well as your banking apps.

Gather Evidence

Try to remember all the incidents that led you to the realization that you were scammed. It is important that you make a report that includes all the details that were shared by the scammer with you. All the screenshots, data, email conversations, and message conversations. All the graphs and charts that were shared with you. You must also mention bank account numbers and wire transfer accounts, and if cryptos are involved, do not forget to include crypto details.

Reporting To Law Enforcement Agencies

Visit your local police department and tell them about the scam. Provide them with the report that you created earlier about the scam. Also, get in touch with the FBI’s internet crime wing, the Internet Crime Complaint Center, and provide them with the details.

Reporting to the FTC

It is advisable that you get in touch with the Federal Trade Commission and tell them all the details about the scam.

Check for Identity Theft

Go on the government website and check if you have also fallen victim to identity theft. Such steps are important, as scammers can strike back and open unauthorized accounts under your name.

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