Recovery Room Scam

You can be a victim of fraud more than once. In fact, 25% of fraud victims are defrauded a second time. This is known as revictimization, or a “recovery room” scam. Here’s how it often works:

1. The person who scammed you keeps your contact information, or sells it to someone else.
2. After some time has passed, you’re contacted again – either by the first scam artist or by a new one.
3. The caller explains that they can help recover some or all of your lost money, but you’ll need to pay a “recovery fee,” or an “advance fee” first.
4. Once you have paid this “fee,” the scammer cuts off contact, and you don’t get your money back.

Remember to be cautious. If you are approached out of the blue by someone you do not know offering to help you with your finances, chances are they are looking to help themselves, not you.

Don’t send money – report the scam to your local securities regulator.