Do You Have Rights If You Have Been Scammed?

Technology advancements have allowed for wonderful things, from improvements in medical care and treatments to progress in space exploration, there are so many areas where tech has been a leading factor in the progression of the modern world. One area where technology has had a negative impact, however, is with scams and fraud. Most scams now involve some form of digital device or online process, meaning that more and more people are falling victim to them as a result.

There are perhaps hundreds of different types of scams in circulation, however, all are designed to gain access to your personal information or get money from you. Although the number of people falling victim to scams is on the rise, a lot of people don’t realise that, in some instances, you do have some rights which can help you recover lost finances or gain control of your personal information or logins. Let’s take a look at what rights you have if you’ve been scammed and what you should do in the event a scam occurs.

Will My Bank Return Lost Funds?

If you have been the victim of a bank scam and have lost money through fraudulent activity, then in most cases your bank should return the lost funds. Typically, if you have not had to authorise a payment and have lost funds, banks will be more likely to reimburse you, as it indicates an issue with their security measures.

Authorised push payment fraud, which is where you manually input payment details and send money to the recipient, can be a lot harder to claim or recover, as some of the blame does, unfortunately, fall upon the victim. If you have been scammed through your bank, the best thing to do is to get in touch with your banking provider and see what steps you need to take. There are instances where banks are unable or unwilling to recover funds lost through scams for customers, so in this instance, you do have legal rights in trying to get your money back – if this is the case, it’s best to get a lawyer involved.

I’ve Lost Money To A Crypto Scam – Will I Get The Funds Back?

Trading and investing in cryptocurrency comes with a number of risks and issues that investors need to be aware of, but perhaps one of the biggest risks that they face is that of trading scams. Fraud recovery can be tricky, as due to the nature of crypto wallets, they can be moved seemingly without a trace. However, this is where the expertise of a wealth recovery lawyer and specialist comes in. They will know all your rights in terms of next steps and they will have trusted processes in place to recover your funds.

How To Report Fraud

It’s important that, if you have fallen victim to fraud or a scam, that you report it. Doing so means that more can be done to prevent others from being tricked into the same scam or fraud processes.

Depending on the type of scam or fraud, you may also wish to report it to other parties. For example, if you’ve experienced purchase fraud, then you may wish to speak to Trading Standards and take the issue further, especially if it is a big company that is involved. For specialist types of fraud, such as trading or investment fraud, it is best to speak with dedicated investment fraud attorneys who deal with it daily, as they will know all the legalities which surround your case.

One thing you should know about falling victim to fraud or scams is that you should never feel embarrassed. It is hugely common for victims to feel shamed or embarrassed about the fact they have been scammed, but there is nothing to be embarrassed about. You must speak about it, not only to make others aware but to reduce the psychological impact it can have on you.