The internet has revolutionized the way we bank, avail sell online loans. and buy goods and services. From the comfort of our homes we can purchase anything from anywhere. All you have to do is to just key in your bank details, credit card or debit card number and voila you are done. While there is no denying that life has become a breeze, it is also alarmingly becoming unsafe online. According to recent reports online frauds have increased by over 30% in the last year. With the majority of users been naïve to the ways of the internet this number is going to be on the rise. Hence always protect yourself when you do any online transactions. But in case you have sadly become a victim of a scam here are a few tips to get your money back. There is no guarantee that you will get all your money back but at least you can try to retrieve what you can.
As soon as you realize that you have been scammed, alert your credit card company and your bank and request for a stop payment. Next file a complaint with the police and explain the situation; they might have encountered earlier scams similar in nature or they will have some advice on how to proceed. If you have been scammed using:
- Credit card: It is believed that credit card has greater protection under section 75 of Consumer Credit Act. As a result, if you notify your credit card company within the stipulated time your chances of retrieving your money is high.
- Bank Transfer: It is easier to get your money bank if there has been a bank transfer scam. You will have to make your complaint with your bank and not the receiver’s bank.
- Using PayPal: PayPal has a protection for its buyers and hence you will be safe to a fair extent when using PayPal. Make a claim in the resolution center on the PayPal page and follow it up thereon.
- Unauthorized transaction: When you find an unauthorized transaction in your bank statement, contact your bank and stake a claim. The payment services regulations 2009 is binding on banks to pay back such claims.