A new FTC consumer alert is warning about "refund and recovery" scams. These scams target those who were already impacted by scams and claim they can help you get your money back.
A new FTC consumer alert is warning about "refund and recovery" scams. These scams target those who were already impacted by scams and claim they can help you get your money back. (Scripps News)
A new FTC consumer alert is warning about "refund and recovery" scams.
These scams target those who were already impacted by scams and claim they can help you get your money back.
According to the FTC, they may pretend to be from a government agency, a law firm, or a consumer group and then ask for an upfront fee or your financial information.
The way this works is scammers buy lists of people who have previously paid scammers. These lists have information like your name, address, phone number and even the kind of scam you were tricked with, as well as how much money you paid.
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The scammer will often reach out to you repeatedly, claiming they’ll get back the money you lost or recover the prize or merchandise you never got.
They will also use the information they bought to make up a story that sounds believable. Before you're able to recover that money or item, they will say you need to pay or provide personal financial information, often calling that upfront money a “retainer fee,” “processing fee,” “administrative charge,” “tax,” “shipment and handling charge."
If you’ve lost money to a refund or recovery scam, or have information about the company or scammer who called you, report it to:
The FTC says legitimate organizations will never charge you to recover a refund.
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