Fund Recovery

Table of Contents

What are the Types of Fraud

The scams run rampant nowadays. From bogus investments to elaborate love scams, there’s no end to what these scam artists are capable of, and no end to what they’re capable of claiming to you. The internet has made it easier for these criminals to find prospective victims, and easier for them to swindle them out of their hard-earned money.

These are the primary types of fraud:

Identity theft and ID theft scams

In this case, criminals gain access to credit card and bank accounts in order to commit fraud. They impersonate innocent individuals and pose as the victims on their bank or credit card accounts. The scammers usually claim that their accounts have been compromised in order to secure financial transactions. The scammers need access to your bank account for this purpose.

Why do scammers steal?

The average individual has a much larger net worth than the average fraudster. All scam entities generally target financially savvy people who are able to spot suspicious financial activities, like a sudden interest in a brand new $2000 cell phone, a purchase on Ebay for which no payment or shipping information is provided. People with a net worth of at least $5 million are at the greatest risk of becoming victims of fraudulent action taken by con artists.

It is generally assumed that financial engineering is the driving force behind most fraudulent activity and con artists. But this is not entirely the case. Rather, in most cases the victims of fraud commit the illegal acts themselves in order to take a position of authority in society.

How to prevent being a victim

With the advent of technology, the world is becoming more technologically connected and we can all see that online fraud and fraudsters have taken over the market. Fortunately, you can avoid falling victim to these scams. By following a few simple tips and tricks, you can prevent being a victim of fraud in the future.

Know your scammers

There are a lot of companies that are so bold in trying to scam you, it makes you wonder why anyone would fall for their scam. If you’re unsure of a company that claims to do something, do some research and see what legitimate organizations they’re affiliated with.

Bank statements

When going through a fraudulent website, verify their links to your financial institution.

What to do if you are a victim of fraud

Some of the common scams that one could be victimized by include:

Stolen money orders

Stolen money orders are a common scam used by criminals to trick victims into sending money to the thieves. The thieves pose as officials from the United States Postal Service who have successfully delivered a cheque for payment for the postal services. The cheques are in the name of the victim and have a fake check number written on them. The cheques are fake, meaning that they are worthless and of no value at all. The scammer then takes the cheques to a MoneyGram or Western Union branch and dupes the victim into sending them some or all of the stolen money via international wires.

Report to the authorities

If you’ve been the victim of a malicious scam, it is crucial to report it. However, many people aren’t sure how to do that. If you decide that’s something you want to do, you should report the incident to the authorities. The FTC provides the information that you need to fill out a consumer complaint form. You’ll also need the appropriate contact information as well as the organization you’ve been scammed by. You may want to provide the seller’s business’ name, the contact number they have on file with the Better Business Bureau, and the location where they live and work. You can always stay anonymous as well if you so wish.

Uncover fraudulent companies

If you’re being scammed, you should start looking for fraudulent companies.


More and more companies are out there who offer online fund recovery. But despite the difficulties in recovery process, experts admit that it’s certainly possible to do it without losing money or even your sanity. In order to do this, you need to invest time and energy in solving the problem once and for all.