How Can I Recover My Money After Being Scammed?


Expert advice on recovering money lost to fraud

In a recent article by fraud prevention expert Shweta Patel, she addresses a common concern among victims of online scams and cybercrime – the fear of reporting the incident to the police. Patel emphasizes the importance of understanding the options available to victims and provides a detailed guide on recovering lost funds.

According to Patel, the Reserve Bank of India (RBI) has laid out guidelines on when a bank should reimburse customers for losses due to fraud. These guidelines cover scenarios where the bank is at fault, as well as cases of third-party breaches. Patel breaks down the process for filing complaints, reporting unauthorized transactions, and engaging law enforcement agencies to freeze fraudulent accounts.

For cases involving Unified Payments Interface (UPI) fraud, Patel advises victims to inform the UPI service provider and request refunds through their support systems. She also outlines steps for escalating complaints to the Banking Ombudsman or consumer courts for resolution.

Additionally, Patel provides insights on seeking legal recourse through consumer courts for recovering substantial losses from banks. She cautions against private hiring of hackers or forensic investigators, emphasizing the need to follow official channels for redressal.

In conclusion, Patel stresses the importance of staying vigilant and shares tips on preventing cyber fraud, such as safeguarding personal information, using multi-factor authentication, and avoiding suspicious links or apps.

Overall, Patel’s thorough guide offers valuable insights and practical steps for individuals looking to recover money lost to fraud, underscoring the importance of taking proactive measures to protect oneself in the digital age.

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