Lost Money to an Online Scam? What to Do in the First 72 Hours
Speed matters in fraud recovery. These are the immediate steps that preserve evidence and improve the chances of tracing and freezing funds.
Cyber-enabled fraud moves quickly. Funds are often split across accounts and moved within hours. While no outcome can be guaranteed, acting decisively in the first few days can make a meaningful difference to what can be traced and recovered.
1. Contact your bank immediately
Report the transaction as fraudulent and request that the bank flag it and contact the receiving institution. Ask for a reference number and write down who you spoke to.
2. Preserve every piece of evidence
- Screenshots of chats, emails, websites and social media profiles.
- Transaction receipts, account numbers and wallet addresses.
- Phone numbers, usernames and any documents you were sent.
3. Report to the appropriate authorities
A formal report creates a record that supports subsequent legal steps. Your lawyer can advise on which agencies to engage based on the nature and size of the loss.
4. Get legal advice on recovery options
Depending on the facts, recovery may involve asset tracing, applications to freeze accounts, civil proceedings against identified parties and coordination with financial institutions and enforcement agencies.
The best time to act is immediately. The second-best time is now.
This article is for general information only and does not constitute legal advice. For advice on your specific circumstances, please contact us.
