We know being the victim of a scam can turn your life upside down. It’s not just about the money. The emotional and mental toll can be significant for many of our clients.
If it’s happened to you, you’re not alone. In fact, 9 million people were impacted by financial scams in 2024. The better news? There are steps you can take to recover the money you’ve lost and help others stay safe online.
What to do immediately after being scammed
It’s hard to think straight after falling victim to a scam, but taking the right steps can help reclaim your lost funds.
Stop further payments and secure your accounts
The first step is to stop the scammer from taking any more of your money or personal information.
Do this by:
- Immediately contacting your bank or card provider to freeze any pending transactions.
- Changing your passwords, especially for your email, online bank, and shopping accounts.
- Enabling Two-Factor Authentication (2FA) on accounts for extra protection.
Gather evidence
The more evidence you have, the stronger your case is for recovering the money you’ve lost. It also helps organisations like Action Fraud protect others from scams.
Keep hold of:
- Screenshots of messages, emails, or online ads.
- The URLs of any scam websites involved.
- Proof of payments made (bank transfer details, receipts, or confirmation emails).
- Any names, phone numbers, or email addresses used by the scammer.
How to report a scam in the UK
Whether you’re impacted by phishing fraud, crypto scams, or another scam, most organisations have a simple reporting process that helps protect you and others.
Reporting scams to Action Fraud
Regardless of whether you’ve lost money, it’s always a good idea to report scams to Action Fraud.
As the UK’s national reporting centre for fraud and cybercrime, Action Fraud collects reports on scams on behalf of the police. They also provide a Victim Support service once you’ve made a report.
You can report a scam in two ways:
- Online – this is the quickest option. You can sign up for a personal account or continue as a guest.
- By phone – call 0300 123 2040 (Monday to Friday, 8 am–8 pm).
- After reporting, you’ll receive a crime reference number. Keep this to hand when speaking to your bank or other organisations about the scam.
Additional organisations you can notify about the scam
As well as Action Fraud, many other organisations can support you:
- Citizens Advice: Offer guidance on what to do if you’ve been scammed, including the steps to take and who to contact.
- Your bank: You must report the scam immediately to your bank. This is particularly important for bank transfer or card fraud, as your bank may be able to reverse the transaction.
- Trading standards: This is useful for scams involving products and services. Depending on what they find in your report, they could prosecute the scammers or stop them from operating.
- GOV.UK: This page provides useful information on how to report certain types of scams, including internet scams and phishing.
- National Cyber Security Centre: Provides advice and support on cyber threats and online scams.
Can you recover the money you’ve lost?
Yes, recovery is possible. In fact, we’ve helped thousands of clients recover huge amounts of money they’ve lost from scams. The steps you should take, and the likelihood of a refund, depend largely on how the money was taken.
Request a credit card chargeback
A chargeback lets you dispute fraudulent or unauthorised purchases with your credit card provider. They’re particularly effective if you’ve lost smaller amounts because of purchase fraud or stolen card information.
You’ll typically have 120 days to claim a chargeback. However, it’s always best to report the issue as soon as possible.
Get in touch with a scam recovery specialist
If you’ve been the victim of a scam, it’s crucial to seek support from experienced recovery specialists. Victims have only one opportunity to present their case, which is why working with specialists is vital in order to improve your chances of recovery.
As an SRA-regulated firm, our experienced solicitors have reclaimed significant sums for clients involved in complex cases of fraud, from cryptocurrency to romance scams. We’ll maximise your chances of recovery by ensuring your case is as credible as it can possibly be.
Get in touch, and one of our experts will listen to your case, answer any queries, and give an honest assessment of your chances of success.
If we can help, we’ll take away the stresses of scam recovery by managing your case from start to finish and updating you at every stage. We also operate on a no-win, no-fee basis, so you won’t pay a penny unless your case is successful.
How long does it take to get money back from fraud?
Again, it depends on what payment method you used and how your funds were lost. As a rule of thumb, though, it usually takes 1-2 weeks if you paid on a card, and often longer if you paid through bank transfer.
This is because bank transfers typically require a bank investigation, which can take several weeks or even months.
Crypto payments are generally harder to recover and often require specialist support. If you’ve been impacted by a crypto scam, we urge you to act quickly, as the sooner you do, the better your chance of recovering your money.
What are the chances of recovering your funds?
The chances of recovering funds lost to scams are dependent on a range of factors, including:
- The type of scam.
- The payment method used.
- Whether the scammer has been identified.
- How quickly the victim reported it.
- Whether the scammer’s account has already been emptied.
- The evidence and documentation that the victim can provide.
Start your recovery with Wealth Recovery Solicitors
If you’ve fallen victim to a scam, we can help get your money back. Our tried-and-tested recovery process has reclaimed over £50,000,000 for our clients in the last three years alone.
It’s thanks to our experienced scam recovery specialists, who not only have the expertise and technology to track and recover funds but can support you through the entire process too.
Get in touch today to start your recovery.