Doesn’t it seem like there are people looking to trick you around every turn? Whether it’s an unexpected phone call from someone claiming to be from your bank, a fraudulent message that gets you to share sensitive data, or an online seller who takes your money and disappears, being scammed can leave you feeling anxious, angry, and unsure. Let’s dive into what to do if you have been scammed and learn more about ways to protect yourself.
What to do if you’ve been scammed
First, take a breath. It’s okay to feel frustrated or even embarrassed. But know this: scams happen to smart, thoughtful people every single day. You’re not alone, and there are clear steps you can take to protect yourself, recover, and rebuild.
In moments like these, knowing what to do if you have been scammed can make all the difference. Acting quickly and following a few key steps can help minimize the damage, protect your identity, and take back control of your financial life.
Recognizing the signs of a scam
In today’s world, scams can take many forms—and they’re getting more sophisticated. Some scams are obvious, like a phishing email filled with typos and strange links. Others are harder to spot, like a scammer impersonating your utility company and asking for payment “right away” to avoid disconnection.
Some of the most common warning signs include:
- Unfamiliar charges on your bank or credit card statement
- A product or service you paid for, but never received
- Being asked to send money via wire transfer, gift cards, or cryptocurrency
- Unexpected messages asking you to verify account information or security codes
- Feeling pressured to act quickly or keep the interaction secret
If something feels off, trust your instincts. Even if you’re not 100% sure, it’s better to treat the situation seriously than to wait and risk further harm. Once you suspect something’s wrong, it could be time to act.
Take back control quickly
One of the first things to do if you’ve been scammed is to take action right away. The faster you regain control, the better your chances of limiting the damage. That’s why the first step is to stop the scam in its tracks.
If you’re in contact with the scammer—whether through phone, email, text, or social media—end communication immediately. Block their number, mark emails as spam, and report any suspicious accounts on platforms like Facebook, Instagram, or LinkedIn. Don’t try to “catch” them in a lie or argue your case. Scammers are trained to keep people engaged and emotionally involved.
If you gave the scammer access to your phone, computer, or other device, disconnect from the internet and run antivirus or anti-malware software right away. This helps prevent further access or data theft.
Call your bank or credit card provider
Once you’ve stopped communication, the next thing to do if you have been scammed is to call your bank, credit union, or credit card company.
Explain what happened and ask them to:
- Freeze or close compromised accounts
- Reverse or dispute fraudulent charges
- Issue a new card or account number, if needed
- Help you set up transaction alerts for future monitoring
If you authorized a payment, even unknowingly, some financial institutions may still be able to reverse the transaction. The key is quick and open communication.
If you used a third-party app like Venmo, Zelle, or Cash App, report the issue through their support center. These platforms may not have the same protections as credit cards, but they can still flag suspicious accounts or transactions.
Secure your personal and digital identity
Many scams are not just designed to steal money, but to collect personal information. That’s why changing your login credentials is a critical step if you have been scammed.
Start with your email accounts and any financial-related logins, then move on to other commonly used apps or services. Use strong, unique passwords for each one. If you reused the same password across different platforms, you should probably change those too.
Turn on two-factor authentication wherever it’s available. This extra layer of security, like receiving a code by text before logging in, makes it much harder for scammers to get back into your accounts.
Report the scam even if you feel unsure
We get it: once the immediate crisis is over, you might be tempted to move on. But reporting the scam to authorities like the FTC or the FBI is a crucial part of recovery. It not only helps protect others from being targeted, but in some cases, it may also support your efforts to recover lost money or dispute unauthorized activity. Knowing what to do if you have been scammed includes speaking up, even when it’s uncomfortable. You never know who else you might help by filing a report.
For scams that happened on a website, social media platform, or shopping site, use those platforms’ built-in reporting tools. It may also be a good idea to save any messages or emails as evidence in case you need them later.
Protect your credit with a freeze or fraud alert
If you shared sensitive information—like your Social Security number, birthdate, or address—it’s smart to take extra precautions.
A credit freeze prevents lenders from accessing your credit report, which makes it difficult for scammers to open new accounts in your name. It’s free to set up, and you can lift it later when needed.
Contact all 3 major credit bureaus:
- Experian
- Equifax
- TransUnion
You can also place a fraud alert on your credit, which warns creditors to verify your identity before opening any new accounts.
Not only are these tools good for post-scam recovery, but they’re also helpful anytime your data may have been compromised.
Monitor your credit and financial accounts closely
Even after you’ve taken steps to recover, it’s a good idea to keep a close eye on your financial accounts for several months. You can easily keep an eye on all your financial accounts in one place for free at Best Egg Financial Health.
Use transaction alerts on your credit and debit cards and regularly check your account balances. You can also monitor your credit report through AnnualCreditReport.com, where you can request one free report from each credit bureau every year.
When you know what’s going on with your money, you’re in a better position to act when needed—and that’s a powerful form of financial confidence.
Be kind to yourself and look ahead
Scammers are professional manipulators. Their job is to build trust, create urgency, and get you to act before you have time to think. Falling for a scam doesn’t make you naïve—it makes you human.
Whether you’re figuring out what to do if you have been scammed or just want to stay one step ahead, keeping up with the latest scams is a smart move. When you stay informed and take simple steps to protect your personal information, you’re in a better position to keep your money safe and stop scammers in their tracks. If you’re feeling overwhelmed or unsure about your next steps, don’t hesitate to talk to a friend, a family member, or a financial advisor. Support helps. You don’t have to go through this alone.
This article is for educational purposes only and is not intended to provide financial, tax or legal advice. You should consult a professional for specific advice. Best Egg is not responsible for the information contained in third-party sites cited or hyperlinked in this article. Best Egg is not responsible for, and does not provide or endorse third party products, services or other third-party content.
