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What To Do If You’ve Been A Victim Of A Scam Or Victim Of Fraud

Scams and fraud happen around us on a daily basis, and it can be a full-time job protecting yourself from them. You’ll be happy to hear, however, that in 2019, the federal government budget has put forth nearly $15 billion for cybersecurity among over 70 agencies. Until then, however, you want to know how to protect yourself and those around you. So, here’s what to do if you’ve been a victim of a scam or victim of fraud:

Report the Scam

In one study, only an estimated 14 percent of victims reported the scam, whether because they were embarrassed, felt it was futile, or simply didn’t know where to report it. But reporting is important because it establishes accurate statistics on the number of people affected and because the FBI and other law enforcement agencies devote considerable resources to breaking up fraud rings. Start with the police (essential if you want to make an insurance claim on stolen property) and report compromised credit or debit card information to the card issuers. The AARP Fraud Watch Network also has a hotline available to anyone (877-908-3360), and volunteers there can advise you of the best next step if you’re unsure of what to do.

Think Locally
This holds true even if you’ve been acted on globally. For most scams involving goods and services (nonexistent vacation properties, for example, or a fake employment agency), try your state attorney general’s office, your local and state consumer protection agencies (go to and search for state consumer protection offices), the Better Business Bureau, or, depending on the crime, the FBI’s Internet Crime Complaint Center, known as IC3.

Match the Agency to the Crime
If the fraud you’ve been a victim of violates federal law, as is often the case, there’s probably a government agency that handles it. Go to for a list (beginning with the Federal Trade Commission, an excellent all-purpose first stop for victims of all types of fraud) and the relevant crime to report there (from income tax debt collection fraud to income tax refund fraud). If your identity has been stolen, will take you through a list of steps to take. For financial crimes, (the website of the Financial Industry Regulatory Authority, which is not a government agency) has a useful listing of groups that specialize in investment fraud and a discussion of possible ways to recover losses, including arbitration. Type in “report fraud” at, and search for “A Recovery Checklist for Victims of Investment Fraud.”

Focus on Emotional Healing
Federal agencies rarely track down perpetrators of crimes against individuals. Rather, they use complaints to record patterns of abuse, which enables an agency to take action against a company or industry. Given the global nature of most fraud today, not to mention the current climate of deregulation and understaffing in Washington, D.C.—the Consumer Financial Protection Bureau has reduced its second-quarter budget request to $0 and said it will direct its energy toward “address[ing] unwarranted regulatory burdens”—consumers should be realistic about their poor chances of legal redress. That’s why many experts emphasize emotional recovery. “Instead of yelling at the victim ‘How could you be so gullible?’ ” says Amy Nofziger, a fraud expert at AARP, “I encourage family and friends to be empathetic—say, ‘I’m really sorry this happened to you but it did, so now let’s figure out how to get past it.’ ”

The above was reported first by Consumer Reports.

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