(Credit:Zain bin Awais/PCMag Composite;Yevhen Lahunov/Oscar Wong/Eugene Mymrin/DNY59/via Getty Images)
Online scamming techniques are constantly evolving. Nowadays, scammers use generative AI tools and take advantage of invasive app data collection and near-constant data breaches to target potential victims.
For example, romance scammers can use AI-generated photos or videos to make it seem like they are an old friend who is trying to reconnect. Plenty of information on data broker websites is available to aid them in luring you to financial doom. Then there are online job scams, in which perpetrators get you to give up vital personal information and attempt to make off with your money.
When a scam happens to you, act immediately. "You really have to stop the bleeding," says Gina Tran, director of product for Bitwarden. “I'm a big proponent of doing everything that you can do to really feel like your bases are covered.”
If you are a victim of those scams or others, Tran suggests the following steps to regain control:
1. Change Your Passwords and Turn on Multi-Factor Authentication
If a scammer compromises one of your financial accounts, change the password immediately. “You need to have a strong, unique password for your critical accounts,” said Tran.
I recommend adding another layer of protection by enabling multi-factor authentication (MFA) using an authenticator app or a hardware security key.
2. Download a Password Manager
If your other accounts share a password with the compromised account, change those credentials, too. In fact, don’t use the same password anywhere. If a scammer has one password, they can get into all your other accounts, and trust me, they’ll try.
Download a password manager and use it to create and store unique passwords for your accounts.
3. Monitor Activity on Your Other Online Accounts
Keep an eye on the login attempts for your other accounts. Most financial services allow you to view the IP address, browser type, and location of all of your logins. If you see a login attempt you don’t recognize, remove access for that IP address and device, and then report the incident to the financial institution.
I recommend monitoring your accounts closely for at least a few months after a scam incident, especially if those accounts shared a compromised password.
4. Contact Relevant Financial Institutions
After securing your accounts, contact the affected institution’s fraud resolution department. Visit your bank’s website and call the phone number listed there. Some banks allow you to start fraud reports via a web form or chatbot, but I recommend speaking with an actual human being whenever possible.
The bank might be able to recover some or all of the money a scammer stole from your accounts, but that depends on what they took. If you sent cash or gave them debit card access, you might never see that money again. The same goes for other forms of payment, such as cryptocurrency. Credit cards usually have different associated protections, so you’re more likely to get those charges dropped.
Consider using a virtual credit card number online in the future, especially with unknown parties.
5. Report the Scam
Who do you tell when you are a victim of a scam? Try local or state law enforcement first. They might not be able to recover your money or apprehend the scammer, but they can file a report. It doesn’t sound like much, as your report is one of many scam incidents that happen every day. The data from these reports could eventually result in increased scam detection and prevention resources.
Next, visit the Internet Crime Complaint Center and the Identity Theft Resource Center to report the incident. Those sites compile scam reports from around the country and provide recovery tips. I also recommend checking out the Federal Trade Commission’s scam resources, which outline different scenarios, such as sending money to a scammer or giving a stranger access to your devices. They also provide step-by-step instructions to recover from each type of incident.
Finally, I suggest you head over to my article on how and why to report scams. If you're interested in learning about how your data gets discovered on the dark web by scammers, read about my search for the company that leaked my email address. If you find yourself itching to explore the dark web on your own, read this article first.