On Your Side: Better Business Bureau shares how to recover from a scam

SPRINGFIELD, Mo. (Edited News Release/KY3) – Figuring out what to do in the aftermath of a scam can be incredibly stressful. Better Business Bureau’s new Scam Survival Toolkit can help guide survivors of scams through the recovery process.

Scams affect people from all walks of life. BBB often shares tips on how to avoid scams, but there’s also a great deal of risk right after a scam happens.

“Scams affect people not just financially, but also emotionally,” said Michelle L. Corey, BBB St. Louis president and CEO. “They’re often dealing with feelings of shame, guilt, or anger, even though it’s not their fault they were wronged.”

Scammers take advantage of strong emotions, and emotions run high in the days after a scam has occurred, leaving scam survivors at risk. BBB’s 2023 Scam Tracker Risk Report found that 10% of respondents were impacted by a scam three or more times.

The top priority after a scam is to prevent further damage. Everyone’s situation is different, but the following steps can help you secure your money, credit, or identity.

For a personalized plan, try BBB’s Scam Survival Toolkit. The toolkit will ask questions about your specific situation and walk you through the best steps to take to recover.

How to recover from a scam:

• Secure your finances. If you’ve lost money or financial information to a scammer, contact your financial institutions. They may be able to start a fraud investigation or reverse the transactions. If credit card information has been compromised, they can cancel your card and send you a new one.
• Protect your credit. If you’ve lost personal information or credit card information, it could be used to steal your identity – so put a fraud alert on your credit reports or freeze your credit. Consider getting a free credit report to monitor your credit for any suspicious activity.
• Change your password. If a specific account has been hacked, report it to the company and change your password. Follow BBB’s guidelines for creating a strong password, and consider turning on multifactor authentication to protect your account. Monitor your other accounts for suspicious activity.
• Look out for recovery scams. Some scammers strike in the aftermath of fraud, offering phony credit repair services or tech support services that steal money or information from people who are already vulnerable.
• Talk about it. Scams can happen to anyone, but people often report to BBB that they feel alone in the aftermath of a scam. Ask a friend or family member for support. If you’d like, you can read testimonials from other survivors of scams or share your story with BBB anonymously.
• Report the scam. Once you’ve taken steps to protect yourself, report the scam to BBB Scam Tracker so you can help protect others. 36.6% of people who visited BBB Scam Tracker last year said it helped them avoid a scam.

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