How To Recover Money After Being Scammed

How-To

How can I recover my coin from a scammer?

Like many other industries, the eCommerce and retail landscape has besides witnessed transformation, following the increase in internet penetration in Nigeria. Consumers now shop onli

May 20, 2022 • two min read

Similar many other industries, the eCommerce and retail landscape has also witnessed transformation, following the increase in cyberspace penetration in Nigeria. Consumers now shop online, causing more people to accept their businesses online, either through endemic websites or online stores via social media.

According to Statista, in 2019, the number of online shoppers in Nigeria reached 76.6 million. Unfortunately, this rapid increase in online shoppers has likewise led to an increase in online shopping scams.

READ: How scammers use SIM bill of fare, phone numbers to rob your bank accounts

Online shopping scams involve fraudsters pretending to exist legitimate online sellers, either with a fake website or a faux social media account. While many online sellers are legitimate, scammers use the bearding nature of the internet to rip off unsuspecting shoppers. They open up these online stores for a short fourth dimension, often selling fake branded wearable or jewellery pictures stolen from other pages or the internet. They typically sell at much lower prices than the normal prices sold by other legitimate sellers to lure unsuspecting victims. After making a number of sales, the stores disappear.

If you take been scammed by an online vendor, in that location are still ways that y'all tin can recover your coin.

READ: Scam websites and how to place them before inputting your card details

How to recover your money after being scammed

Take a screenshot of the conversation yous had with the online vendor on social media (Instagram, Facebook and Twitter).
Copy out the full name and account details of the vendor who scammed you.
If yous made the transfer via your mobile app or SMS, go to your transaction history and re-create out the Transaction ID Number of that transaction.
All banks have a team in accuse of online fraud. Send an email to your banks E-fraud team as well as the online scammers banking concern, with proof of the transactions and frontward a copy of the post to CBN FRAUD Desk-bound. This will help the banking concern to identify the scammers account on hold.
With this, the scammer volition not be able to conduct out any transaction until they visit the banking concern.
If you dont take their email address, y'all can walk into your bank or the scammers bank, and speak to the customer service in charge of fraud to file a complaint.
Your bank will direct you on the steps to recover your money.
Report to the police and also speak to a lawyer to file an expert court order. With a court club, the bank volition release the information of your scammer to the police to assistance track them and recover your money.

READ:How to protect your Crypto assets from thefts, hacks, and frauds

While these steps volition help you recover your coin, it is also advisable to protect yourself from online scams on social media.

You tin look out for reviews on the page earlier shopping.
Avoid vendors that have a no-refund policy.
Scammers also defraud people online through giveaways on their pages that inquire you to send money before getting the item that you won. Avoid such giveaways.

Why this matters

Social media platforms have become major targets for scammers. It is necessary for people to take precautionary steps before shopping online to avoid falling prey to online shopping scams.