Loss Recovery Scams

Modified on Fri, 15 Mar 2024 at 11:14 AM

Being scammed online is distressing, especially when trying to get your money back and falling for more scams. Loss recovery scams target those already victimized, promising to retrieve their lost funds.

After someone falls for a scam, victims' details are added to scammers' lists, including names and phone numbers. Next, scammers impersonate legitimate entities or government agencies, reaching out victim via calls or emails to offer help. Some victims encountered these services advertised online and contacted the scammers themselves. Scammers may ask victims to install remote access software, enabling them to control devices and potentially gain control over their bank accounts. 

They demand upfront payments via bank transfers or cryptocurrencies, citing administrative fees. After receiving payment or personal info, they give false updates on the recovery process, tricking victims into giving them even more money or information.

How to Spot a Loss Recovery Scams

  • They request payment upfront.
  • They claim they have exclusive connection to government officials, agencies or companies.
  • They pressure you to take immediate action, warning that delaying could result in missing out.
  • They insist on keeping the process confidential, which is merely a tactic to prolong the scam.
  • You're requested to provide additional banking information for the purported deposit of "recovered funds" into your account.
  • Contact information is limited, or communication is directed through messaging apps.

Things to keep in mind:

  • Thoroughly research the advertised company. Look for reviews, complaints and reports of scams associated with them.
  • Be wary of unsolicited contact. You should never respond to any ad, call or suggestion from anyone who claims they know a service who will get you your money back.
  • Don’t make rushed decisions and pay extra attention if they try to pressure you emotionally or make you feel rushed to do something for them. 
  • Beware of recovery services asking for upfront payments before any funds are recovered. Be cautious of small fees or deposits, as fraudsters may start with minimal amounts and increase requests over time.
  • Guard your personal information and only share sensitive personal information with trusted sources. Scammers can use it for identity theft or other fraud.

To report this issue, get in touch with us.

Rest assured that CelcomDigi is actively taking measures to ensure our customers do not fall prey to such scams.

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