While these warnings have helped to flag potential frauds to consumers, it also means the banks can argue that customers who still send the money have done so willingly and deserve no compensation.
If you are a victim of this fraud, here’s what to do.
Ask your bank
The first thing to do is to immediately report the fraud to your bank, as there is still a chance it can recover the money. Other avenues of complaint may not be open until you do this.
If you have been on the phone to a fraudster, make sure you have hung up the phone. Dial the number to your bank on the back of your bank card. Ask to immediately be connected to the fraud team. Ask them to stop any payments. Make a note of how quickly you were connected, what was said to you and how fast the bank acted. Ask how you can obtain a refund.
Now make a note of the fraud’s exact train of events including dates and times, who contacted you and what they said. These records are important in…