What to do after you’ve experienced a scam

WHAT TO DO IN THE WAKE OF A SCAM 1. IMMEDIATELY CUT OFF COMMUNICATION WITH THE SCAMMER. You might be tempted to keep corresponding with the criminal, hoping you can persuade them to return

your money or that they’ll let slip some information that will help law enforcement catch them. But scam prevention experts say continued communication is unlikely to help. “Don’t engage any

further with the scammer under any circumstances,” says Michael Bruemmer, head of Global Data Breach Resolution at credit reporting company Experian and a fraud expert. “There’s nothing

good that would come out of that.” 2. NOTIFY YOUR BANK AND CREDIT CARD COMPANIES. Your bank and your credit card company should be your first two calls, says Amy Nofziger, director of victim

support for the AARP Fraud Watch Network. If scammers already have gained access to your bank account, the bank can change your account number to deny them further access. Check your recent

credit or debit card transactions, and tell your financial institutions if you spot any fraudulent charges, says the Federal Trade Commission (FTC): “Ask them to reverse the transaction

and give you your money back.” Lisa Schifferle, a senior policy analyst in the Consumer Financial Protection Bureau (CFPB)’s Office for Older Americans, suggests that you also contact anyone

else who’s made a payment to a scammer on your behalf, such as a wire transfer service or gift card company. “Ask them to stop payment, and see if you can get your money back,” Schifferle

says. It may be a long shot at best, she says, but is worth a try. 3. CHANGE YOUR PASSWORDS. Darius Kingsley, head of consumer banking practices at JPMorgan Chase & Co., recommends that

you change your passwords as a precaution — and don’t stop with just the financial accounts. “You’re better off just going and changing those kind of major passwords, even if it’s a major

online retailer or your personal email account,” he says. “I would recommend that you lock those down by changing them very quickly.” 4. DOCUMENT THE SCAM. Gather evidence of fraudulent

transactions and communications with scammers, and any information that might possibly help to identify the criminals, says Zulfikar Ramzan, chief scientist and executive vice president of

product and development at Aura, which offers "an all-in-one online safety solution" to protect against issues such as identity theft and financial fraud. If you have an identity

theft insurance policy, amassing this sort of information is especially crucial. “You want to make sure that you have all of your receipts and all of the documentation in one place,” notes

Josh Planos,  vice president of communications and public relations for the BBB. Whatever information you’re able to gather will be a help to investigators, and may even improve your

chances of recovering money that you’ve lost.  5. REPORT THE SCAM. Bruemmer recommends filing a police report with your local department to document the scam. You also should report scams

to the FTC at ReportFraud.ftc.gov. The agency shares information with more than 2,800 law enforcement agencies.