All About Recovery Scams

December 6, 2022 10:46 am

It’s happened – you have been scammed! Now what?  Maybe you want to share your news so this doesn’t happen to anyone else.  Although it’s a nice thought, this can lead to another scam called a recovery scam.


How Do Recovery Scams Work?  After you are hit with the first scam, someone claiming to be a government official, attorney, or “recovery agent” will try to get in touch with you.  They may tell you that they are working towards recovering your lost funds, or even already have your funds in their hands.  In order to get it back, they will ask you to pay an upfront fee.  This can occur multiple times until the victim realizes they are being scammed.


Is a Recovery Agent a Real Thing?  Unfortunately there is no scam recovery agent that can help you recover any money you lost.  Don’t believe anyone if they tell you they can recover your funds or accounts, and definitely never pay anyone an upfront fee or give them your banking information.


What Should You Do if You are Scammed?  You should let your bank know the situation right away, that way they can lock down your accounts.  It’s also important to report the scam to the FTC and the Federal Bureau of Investigation’s Internet Crime Complaint Center.


Cyber Security is important.  Remember, CATS Technology Solutions Group is always available to you for Cyber Security support and tips!


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