How to Spot and Avoid Fraudulent Recovery Offers
It Can Be Hard to Recover From 'Recovery' Scams
Spotting a Scam
Fraudsters often find their targets by purchasing or trading lists of people who've been impacted by fraud. Targets might receive urgent correspondence and high-pressure calls or messages from official-sounding organizations. Fraudsters might also impersonate registered securities professionals and brokerage firms, sometimes using the name of a real person or firm to appear legitimate. Be cautious of any unsolicited offers for asset recovery.
- Tip: Keep your guard up and watch for red flags.
- Tip: Learn the tricks fraudsters use to manipulate victims.
- Tip: Do thorough research on organizations and offers before engaging.
- Tip: Avoid sending money or sensitive personal information upfront.
- Tip: Know where to report fraud and seek legitimate avenues for recovery.
Protect Yourself
If you're contacted by someone offering to help you recover lost funds, stay skeptical of upfront payment requests or guarantees of returns. Scammers often use emotional manipulation and false claims of affiliation with reputable entities to deceive victims. Stay cautious, conduct thorough investigations, and report fraudulent activities to appropriate authorities to avoid falling victim to recovery scams.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.