How To Get Your Money Back After Being Scammed Online
Scammed Online
So you’ve been scammed? Don’t worry you are not alone. In the US one in ten adults falls victim to scams yearly.
If you have fallen victim to a scam there are still things you can do to maximise your chances of getting your money back, but it depends on the type of scam and how you paid.
But the good news is that there are still things you can do to potentially get your money back.
Firstly, you should contact your bank as soon as you realise that you have been scammed, this may allow your bank to freeze any future transactions and even refund your money.
Another step you can take is enlisting the help of wealth recovery attorneys, whose job it is to fight your corner in these situations.
These professionals will be aware of all the relevant legal jargon that you will need to maximise the chances of getting your money back.
A Scammer Has Stolen My Card Details
This type of scam is an example of an “unauthorised payment” which is a payment that you have not agreed to make.
This type of scam is often pulled off either by your bank card being stolen and used to make purchases or that your card has been cloned so that a scammer can use a copy of your card even if you have knowledge about the whereabouts of your original and legitimate card.
Another method that has gained popularity over the last few years is where scammers scan people’s bags and pockets without their knowledge with card readers taking advantage of the fact many people use contactless payments these days for convenience.
Whilst an unauthorised payment seems like a scary prospect, it is actually the most common type of fraud and banks are very likely to refund you if you have been a victim of this type of scam.
To maximise your chances of getting your money back try to alert your bank of any authorised transactions as soon as possible, this will also allow you to work with your bank to help prevent any future unauthorised payments on your account.
However, if your bank determines that you authorised the payment, acted fraudulently or refused to protect your PIN and password it can refuse to give you a refund.
I Sent My Money To a Scammer
This type of scam is an example of an “authorised push payment’ (APP) which can be more complicated and you are less likely to get your money back as opposed to unauthorized payments.
But don’t let that discourage you from trying! The best thing you can do is contact your bank as soon as you realise that you have been scammed, they will require you to provide them with the account information of the scammers which may allow them to stop the transaction or get your money back this way.
Most banks have signed a voluntary code to reimburse victims as long as they aren’t to blame themselves, however, banks are not bound by law to do this.
New legislation may change this in the future though as according to inews the government’s antifraud strategy is considering legislation to strengthen laws around APP payment scams.
My Goods Didn’t Arrive, Or They Were Fake Or Faulty – Can I Get My Money Back?
The answer depends on what payment method you used and how fast you act after realising that you have not got what you paid for.
If you bought your items using a debit card, you should be putting in a chargeback claim within 120 days of the purchase date.
But it is important to remember chargeback claims are not a legal right, they are currently a voluntary agreement amongst most banks to repay you if you have been a victim of fraud.
Chargeback claims can be used in a number of different circumstances such as:
- If the quality of the item is not as it was described in the advertisement
- If you did not receive the item
- If there is a clerical error such as you have been charged multiple times for an item, of course, this could be completely accidental but it can also be malicious. In either case, you will get your money back.
Final Thoughts
Credit cards offer more security than debit cards because they are legally bound to a piece of legislation called Section 75.
This makes the cardholder jointly liable with the retailer if something goes wrong during the transaction.
Section 75 covers transactions between £100 and £30,000 per item, it is possible to use a chargeback claim on a credit card.
This is particularly useful if each item you have bought works out to less than £100 per item, due to Section 75 not covering items under £100.
Final Thoughts
Realising you have been scammed can be a frightening experience, especially if you have lost a significant amount.
However, the most important thing to remember is that there are systems in place to help you get your money back.
You need to report that you have been scammed as soon as possible and provide as much detail about the experience as possible in order to maximise your chances of getting your money back.
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Category: Consumer Complaints
