Internet and online scams

Frequently asked questions

• Are banks responsible for help when I’m the victim of an online scam?

  This really depends on which bank you are with and also the type of scam you’ve been involved with. For example, Revolut doesn’t hold a UK banking licence, so if you’ve been part of a Revolut scam, then they may not be responsible to help you. The best thing to do if you think you’ve been a victim of a scam is to call your bank as soon as possible, as they may be able to stop the payment. They will then be able to provide the next best steps to help recover your money. If they can’t help, give us a call at Wealth Recovery Solicitors.

• Common signs of Internet scams

  Some common signs of an internet scam to be cautious of include:

  Any requests for sensitive information or bank details
  A sense of urgency in the request being made
  Asking you to transfer money
  Text messages or emails asking you to make a payment
  Being approached about investment opportunities
  Offers that seem too good to be true
  Spelling errors or design flaws in any type of communication
  Someone using emotional manipulation to encourage you to disclose information (common in romance scams)

• How can I avoid internet scams?

  There are some ways that you can avoid falling victim to internet and online scams. One of the easiest ways is to familiarise yourself with the most common types of internet scams so that you can spot the signs of these should they occur. As well as this, there are other ways in which you can stay safe when online:

  Be Cautious About Any Requests For Your Details or Money

  You should always avoid sending money, personal details or payment details to people you don’t know or trust, especially online. Only use secure payment methods and never agree to transfer money or goods on behalf of someone else, as this can be classed as money laundering. If you’re asked to pay for items or services in crypto or are pressured into making crypto trades, this could also indicate that it is an online scam.

  Be Wary Of Phishing Scams

  Another common theme we see when people lose money through online scams is that they have done so through phishing scams You should always avoid clicking on links or attachments sent in messages or emails and never respond to unusual messages asking for personal or financial information.

  Resist Calls To Act With Urgency

  One tactic common with online scammers is to pressure victims into making the trade or transaction right away. They will often say it’s required due to an expiring offer, or perhaps the market has increased drastically. Legitimate businesses or brokers will never pressure you into making a decision and will always give you time to consider your options. Anyone who applies constant or unwavering pressure on you is likely to be a scammer.

• I think I’ve been the victim of an online scam – what do I do?

  If you think that you’ve been the victim of an online scam, then the important thing to do is not to panic. We understand that it is devastating losing money through a scam, but we are here to help and have processes in place to potentially trace and recover your lost funds. The first step is to call your bank as they may be able to stop the payment going through, report the scam to the police and then contact us so arrange a free consultation to see if we can help with your case. You should also report the scam to Action Fraud and National Cyber Security Centre to prevent the scams from occurring again.

• What type of online scams are most common?

  As the complexity of the internet has progressed, so too have the various types of online and internet scams. The most common types of online scams are the ones which include bank fraud or ones in which the scammers gain something, such as personal information or sensitive details, so that they can attempt to blackmail or coerce victims into parting with money for the information to be returned.