Online Scams

The online scam consists of unsolicited pop-up ads, deceptive emails, fraudulent advertisements on social media, and malicious links. It seems rather innocent at first, but if you click the link, your computer will be compromised and transferred to the attacker’s server. This server will run automated scripts in the background to take over your hard drive, as well as any personal information on your computer, such as your email account, bank account information, credit card information, etc. This is done in order to steal money from the user. They’ll also take over the victim’s internet browser, thereby making them even more vulnerable and making it more likely that they’ll be hacked and lose money in the future.

Fund Recovery Companies

Let’s start by talking about the four main types of victims who run into this scenario and how Fund Recovery works:

The Reunited Family: This group consists of friends or family members who get scammed and are left broken-hearted with no support and little help from law enforcement. In some cases, friends even lose their lives because of this horrible crime. Their loved ones have been psychologically traumatized by the incident and they are in desperate need of the money that was taken from them in order to survive.

The Unreunited Family: After a scammer successfully flees, the victim will be left without any of their hard-earned money. The reason being is because the criminal stole it from the victim and decided to get the heck away from them.

Why it’s Worth It to Recover Your Funds

Fund recovery companies are dedicated to investigating and recovering your lost funds. By partnering with experienced law firms and security companies, a Fund Recovery company has vast experience in protecting your rights as a victim of fraudulent activity. When you’re involved in a fraudulent act, you’re not only protecting your assets, but protecting your well-being and mental health as well. When a financial predator hurts you, the companies that respond to the crime, such as Fund Recovery, help give you the support you need to recover your assets. For most victims, recovery can be the key to overcoming the hurt and pain.

Who It’s Suitable For

It’s best if a victim recovers funds with a Fund Recovery company that has the skills to help them keep the processes as simple as possible.

How do they work?

Typically, banks and financial institutions keep an open monitoring account to be used as recovery funds for fraudulent entities who abuse the system. When a fraudulent entity places an unauthorized transaction or withdraws money from an account, the funds can be recovered by the bank from the fraudulent entity’s account. But sometimes, the bank will not receive the required paperwork from the customer, such as an I.D., which proves that the transaction was an unauthorized one, so the funds will not be available for recovery.

To deal with this problem, fund recovery companies specialize in investigating fraudulent transactions and following the tracking process to recover the funds from the fraudulent entity’s account.

Legal Process

The legal process is not easy, but it can be bypassed. In certain states like Delaware, there is a voluntary fund recovery program that is offered. This means that the Securities Investor Protection Corporation (SIPC) will pay the securities for you. For this to happen, you have to write a letter to the SIPC, describing your loss. However, this is the exception, as many states have laws that forbid the receipt of compensation for fraud victims from the SIPC, as they are not regulated to the same standards as the Securities & Exchange Commission (SEC).

After sending the letter, the recipient will then take care of all the legal business that you need. The company, to which you’ve sent your letter, will then contact the SIPC for a decision.

Alternative Processes

If you have been scammed and aren’t a part of the targeted victim group, but suffered a significant loss due to these fraudsters, there are other ways to recover your lost funds.

Credit Recovery:

Many people believe that using credit reporting will yield a faster recovery, but this isn’t always the case. Using credit reporting is a lot more complicated than it may seem. More often than not, the credit bureaus have their own criteria when determining which accounts are clear and which ones need more investigation. Furthermore, the process can take weeks to months to finish and can often end up voiding the items purchased during that timeframe. This alternative is ideal for those of you who are a part of the targeted victim group, but is not suitable for those who are not.