What to do if you get scammed: steps and where to report

If you get scammed, do three things today: cut off contact with the scammer, call your bank to try to stop the payment and keep all the evidence. Then report it: in the US to the FTC at ReportFraud.ftc.gov and, if it happened online, to the FBI's Internet Crime Complaint Center (IC3); in the UK to Report Fraud, the service that replaced Action Fraud. If it was an investment, tell the SEC or the FCA as well. And be wary of anyone who offers to recover your money in exchange for a payment: it's the most common second scam against people who have already lost.

Don't blame yourself. Scams are designed by professionals to fool smart people, and doctors, bankers and experts fall for them. What matters now is speed: in the first few hours, some payments can still be stopped.

In the first 24 hours

Stop paying and cut off contact. Don't reply, don't send “one last fee” to unlock your money, don't install anything. Block and report the number or the profile on WhatsApp, the social network or the platform.
Call your bank, using the number on your card or in its app, never the one the scammer gave you. In the UK you can dial 159, a number that connects you directly to your bank and can't be spoofed. Ask them to block the card, to try to hold or reverse the transfer or the Zelle, wire or card payment, and to give you a case or reference number.
Change any passwords you shared: online banking, email, WhatsApp and any account that uses the same password. Turn on two-step verification.
Keep the evidence before it disappears: screenshots of the messages showing the date and number, full emails, the exact web address, payment receipts, account or crypto wallet numbers, and the names and phone numbers used. Don't delete the conversation, even if you're embarrassed.
Report it to the FTC and, if it happened online, to the FBI. ReportFraud.ftc.gov collects reports of all kinds of scams; IC3 is the FBI's channel for internet crime. In the UK, report it to Report Fraud, online or on 0300 123 2040.

How to report a scam during the first week

File your reports and keep the reference numbers. Have your evidence in order. If you prefer to go to your local police as well, ask for a copy of the report.
Give the reference numbers to your bank. Ask in writing for the charges you didn't authorize to be reversed, and for a formal fraud claim to be opened on the ones you made because you were tricked.
If it was an investment, tell the regulator. In the US, submit a tip to the SEC; in the UK, tell the FCA through its consumer helpline (0800 111 6768). Your report helps regulators issue warnings that prevent new victims.
Tell the platform where it all started (Facebook Marketplace, eBay, Airbnb, the dating app, the social network that ran the ad). Reporting the profile can get it taken down and also serves as evidence.
Tell someone you trust. Shame protects the scammer, not you, and it's very likely they'll try to contact you again.

What the rules say about payments

The rules distinguish between two situations:

How the money left	What the rules say	What to do
Unauthorized payment: someone used your card or your online banking without you giving the order	In the US, Regulation E limits your liability for unauthorized electronic transfers, and the limit goes up if you wait: if you don't tell your bank within two business days of learning of the loss or theft, you can be liable for up to $500, and more if you take longer	Tell your bank right away and ask for the refund in writing
Payment you authorized because you were tricked: you made the transfer yourself because you were deceived	In the US, banks aren't bound in the same way, because you gave the order. In the UK, the APP scam reimbursement rules cover payments made by Faster Payments or CHAPS from one UK bank account to another, with the sending and receiving banks splitting the cost	Call anyway: if the money hasn't left yet, or the receiving bank holds it, it can sometimes be stopped

If your bank doesn't respond or you disagree with its answer, first complain to the bank itself and then, in the US, to the Consumer Financial Protection Bureau; in the UK, to the Financial Ombudsman Service.

Afterward: what you can expect

Let's be clear, because nobody else will be: the money often isn't recovered. What does help is reporting it, because criminal and civil cases are the only real route, and reports make it possible to warn others.

Sometimes the justice system returns part of it, years later. In the Madoff case, a court-appointed trustee and a US government fund have already returned most of the principal that was lost. At FTX, customers were paid more than 100% of their claims, but at November 2022 prices. None of them had to pay a middleman upfront: the courts did it.

The “recovery” trap

Soon after the scam there's often a call, an email or a message: a law firm, an “asset recovery agency,” a supposed official from the SEC, the FCA, Europol or the police. They know how much you lost and where. They promise to get it all back if you first pay some fees, a charge or a tax. It's a recovery scam (“recovery room” in the UK), and it may come from the same group that scammed you or from others who have bought the list of victims.

The FBI is blunt: private recovery companies cannot issue seizure orders to recover cryptocurrency, the US government doesn't ask for payment for law enforcement services, and no law firm is an officially authorized partner of US government agencies. In 2025 it warned of fake law firms asking for payment in cryptocurrency to “recover” funds. We explain it in depth in the recovery scam.

MATERIUM doesn't recover money either, doesn't charge to help you and will never ask you for your details. Nobody serious promises to recover what you've lost.

The same trick, a century ago

The Law of Deception from the FTX case sums it up, Law of Deception No. 16: “Getting your money back doesn't mean it wasn't stolen.” And it works the other way round too: someone promising to give it back doesn't mean they will. According to the women who reported Simon Leviev, the money he owed them was “always on its way,” and he sent one of them a wire transfer receipt to pay it all back that turned out to be fake (he denies taking money from anyone). If your case started with a relationship online, also read our guide to the romance scam.

Outside the US and the UK

If you live somewhere else, report it to the police in your country and, if it was an investment, to its financial regulator. The steps are the same everywhere: stop paying, call your bank, keep the evidence, report it.

So it doesn't happen again

Before your next investment, learn how to check if a broker is legit and go over the red flags in how to spot a scam. People who have already been scammed get more attempts than anyone, so next time be twice as careful.

Frequently asked questions

What should I do if I get scammed?

Cut off contact, call your bank today to try to stop or reverse the payment, keep all the evidence and report it: in the US to the FTC at ReportFraud.ftc.gov and, if it happened online, to the FBI's IC3; in the UK to Report Fraud. If it was an investment, tell the SEC or the FCA as well.

Where do I report fraud?

In the US, at ReportFraud.ftc.gov (FTC) and ic3.gov (FBI) for internet crime, plus the SEC if it involved an investment. In the UK, to Report Fraud, the service that replaced Action Fraud, online or on 0300 123 2040.

I got scammed online. What should I do first?

Call your bank within the first hour: the sooner you do, the better the chance of blocking the card or holding the transfer. In the UK you can dial 159 to reach your bank safely. Then change any passwords you shared, take screenshots and report it.

Will my bank give me my money back?

It depends on how the payment was made. In the US, if the transfer wasn't authorized by you, federal rules limit your liability, and the sooner you report it, the less you can lose. In the UK, transfers you were tricked into making by Faster Payments or CHAPS between UK bank accounts are covered by the APP scam reimbursement rules. Either way, call straight away.

Can someone recover my money if I pay them?

No. Anyone who asks for an upfront payment to recover what you lost is almost always running a second scam, known as a recovery scam. The FBI warns that private recovery companies cannot issue seizure orders to recover cryptocurrency.

Sources

Educational content: not financial or legal advice. Before an investment decision, consult a licensed professional.