Recovering your money depends on three key factors:
Speed: The quicker you act, the better your chances. Scammers often try to delay the process.
Payment method used: If you used a credit card or PayPal, you have a higher chance of success.
Perseverance: Getting your money back may take time. Stay determined and follow up.
Unfortunately, if you paid via Wire Transfer, Bank Transfer, or Cryptocurrency, the chances of recovery are low.
What are Your Rights?
In many countries, you are entitled to return a product within a specified period, typically 7 days (in many Asian countries) or 14 days (in Europe). However, different rules apply to services (e.g., software, movies) and certain items (such as food or personal care products).
No matter where you are, consumer protection laws are in place to guard against scams. Don’t feel ashamed if you’ve been tricked; it happens to nearly everyone at least once. As a consumer, your national laws apply, even if you bought from a company abroad.
Step 1: Gather Evidence and Build Your Case
Start by filing a formal complaint with the store or service provider you purchased from.
Ensure you keep all relevant records, such as transactions, emails, chats, and receipts (e.g., invoices, WhatsApp, Facebook messages).
If they don’t respond within 3 working days, or if you’re certain you’ve been scammed, move to the next step.
Clear indicators of a scam include:
The website is inactive or redirects to another site.
You’re unable to withdraw funds, or they demand additional payment to release your money.
A delivery service asks for extra fees (this should have been covered by the merchant).
In these cases, take immediate action and proceed to Step 2.
Step 2: File a Complaint with the Right Authorities
File your complaint without delay, as time is crucial to increasing your chances of recovering your money.
If you paid using:
Credit/Debit card: Contact your card issuer.
PayPal: Reach out to PayPal’s customer support.
Marketplace (e.g., eBay, Amazon, AliExpress): Contact the respective platform’s support team.
Wire/Bank Transfer: Contact your bank and local law enforcement.
Cryptocurrency: Reach out to your crypto exchange and notify local authorities.
In these cases, take immediate action and proceed to Step 2.
Step 3: Avoid Money Recovery Services
We do NOT recommend using Money Recovery Services. These agencies, sometimes referred to as asset recovery or fund recovery firms, are often scams themselves or, at best, unreliable:
They mislead you into thinking it’s easy to recover funds; it’s not.
If you paid with a credit card or PayPal, the process is generally straightforward, and you don’t need their services.
If you paid by cryptocurrency or wire transfer, the likelihood of getting your money back is very low, especially after several days.
The paperwork is still your responsibility. Their involvement doesn’t significantly add value.
Some financial institutions may refuse to cooperate with them, making it harder to get your funds back.
Success rates for these companies are dismal, less than 1%. Despite this, you’ll still be required to pay their fees.
We interviewed several Money Recovery Services. Their success rate is far less than 1% (but you still pay them).
Recommended Crypto Investigators
If you’ve been scammed in the crypto space, several reputable agencies can assist with tracking your funds:
Crypto Helpline (USA & India)
Website: crypto-helpline.com
LinkedIn: Nirmal Shah
Crypto Helpline is an investigative agency that works with law enforcement globally. They handle end-to-end crypto fraud cases, from tracing funds to supporting law enforcement training.
Cybertrace (Australia)
Website: crypto-helpline.com
LinkedIn: Cybertrace Skip Tracing
Cybertrace specialises in cyber and crypto fraud investigation. Since 2015, they have collaborated with law enforcement agencies to combat fraud and crypto scams globally.
Crystal Blockchain (Global)
Website: crystalblockchain.com
LinkedIn: Crystal Blockchain
Crystal Blockchain provides blockchain forensics and can trace complex transactions, linking anonymous blockchain transactions to real-world entities. Their team offers expert testimony and evidence for criminal and civil legal cases.
