How to get your money back after a scam.

Unfortunately, it’s not always possible to get your money back after you’ve been scammed, but you can try.

Credit/Debit cover.

If you paid for goods and/or services via credit or debit card, you are better protected should things go wrong according to the Consumer Credit Act.

But whether you can make a claim or not depends on the type of scam you have fallen for.

An example of a scam where you could use the Consumer Credit Act or chargeback, would be a scam where you paid for goods or services and it turns out these were either never available or the 'seller' has disappeared.

Creditcards have the greatest protection, as you can make a claim against your card provider when this happens.

The credit card company is jointly and severally liable for any breach of contract or misrepresentation by the company.

For this to apply, the item you bought must be more than R1000 and less than R30000.

Use Chargeback

If you used a debit card, you may be able to ask your bank to get your money back through the chargeback scheme.

Chargeback is not enshrined in law but is part of Scheme Rules, which participating banks subscribe to.

It applies to all debit card transactions including goods costing less that R1000, although exact rules may vary between the Visa, Mastercard, Maestro and American Express networks.

But, there are no guarantees your bank will be able to recover the money through chargeback.

Chargeback also applies to credit card transactions but will be particularly useful where goods cost less than R1000.

Unauthorized transactions

If there is a transaction on your card you know nothing about, then you can make a claim from your bank as an unauthorized transaction. 

If you hand over your card to have a particular amount debited from it, and then you find more money has been taken without your permission, or a sum has been taken by someone else, you can make a claim for this extra amount. 

Fortunately for you, in cases like this, your bank will refund you the money and start their own investigation to find where the mistake had taken place. This way they can prevent it in the future.

Make sure you report the unauthorized transaction as soon as you become aware of it. 

Bank transfers

If you've been caught out by a complex and convincing scam which has resulted in you transferring your money into another bank account, then you should contact your bank immediately.

The bank can try and recover the funds once they are notified.

You could also have grounds to complain if somehow the bank has contributed to the fraud or if they've failed to try and recover the funds properly.

If your bank refuse to offer you a refund, or only offers a partial refund, you have a couple of options:

• Make an official complaint with the bank - but be aware that banks have up to 8 weeks to deal with an official complaint.
• Inform the bank that you will escalate your complaint.

You should also contact the police; a crime number will usually help your claim.

Money transfer scams

Unfortunately, you can't always get your money back if you've been scammed, especially if you've handed over cash or you’ve paid via a wire service like Western Union, MoneyGram or PayPoint.

One of these services provide advice on how to avoid fraud and scams, so it’s a good idea to read their advice. That means, before using any form of money transfer, make sure you read through their T&C’s first, that also helps.

Beware of replying to emails

If you respond to an email from fraudsters and send money, there is no mechanism to get the money back if it's a transaction you authorized.

You should be particularly careful of responding to emails that state you stand to gain a large sum of money but need to send money to release the funds, like with most Loan Scams in the country.

If you choose to do so, there is nothing you can do to get the money back through your bank as this will be viewed as money you have willingly paid out.

Should you have any other questions or know of ways to get your money back after a scam and would like us to add it, please share your comment below, we look forward to hearing from you.

Think I’m being scammed. What do I do now?

Here are a few things you can do when you think you’re being scammed:

When you suspect someone is trying to scam you, don’t respond in any way.

Ignore any suspicious emails, letters or pop-up boxes. If it’s phone call, just let it ring or hang up. If someone comes to your door, move away. Just kidding, just close the door and walk away. If he persists, call the police or your armed response unit. If the person says that s/he’s from an organization that you recognize, report the incident to the organization immediately. Resist the temptation to try and outsmart the scammer, remember that you can’t con a con.

If you’ve already responded to a scam, end all further communications.

A smart fraudster will always try to re-establish contact with someone who gave them hope of succeeding in their scam. In this case, don’t be tempted, doesn’t matter what they say. If you really have to, cancel your email address or phone number to end contact with this persistent person.

When you’ve given a fraudster:

Bank account info: Contact your bank right away. The bank can put a fraud alert on your accounts, close any accounts that were compromised or change you PINs or passwords.

Debit or credit card info: Contact the number you find on the back of your card. They will then list your card and closer the account.

Personal info (ID number): Notify the police immediately, you’ll also have to change your ID number at home affairs.

When things have gone too far.

Now you are already involved and communicating with the scammer or have sent money and think you may have been scammed. If they posed as a company, report this to the company so they can start an investigation. If not, find out from your local police station who you can talk to about your specific case.

Limit the personal info you put on social media.

This is particularly important. So many people don’t check their privacy settings on social media and thus allows scammers to get much more info from you. Info that can help them do SIM swops and gain access to your banking details and so on. Use the privacy settings to limit who sees what, this way only close friends and family will it.

What if you’re a victim of fraud?

Credit Card Fraud.

1.    Notify your bank immediately.

2.    Tell them of any fraudulent activity on your account.

3.    Have them block and close the account.

4.    Identify any other fraudulent activity that may be on your account.

5.    Complete any forms for claims they request.

6.    If you’re still in possession of the card, shred it or cut it into small pieces before you throw it away. Better yet, burn it rather. Just to be safe.

Debit Card Fraud

If your debit card number has been stolen or used fraudulently:

1.    Immediately notify your bank.

2.    Inform them of any known fraudulent activity on your account.

3.    Have them block the debit card number.

4.    Make sure none of your own checks have been refused payment (bounced) because the fraudulent activity reduced your balance.

5.    Identify any other fraudulent activity that may be on your account.

6.    Complete any “claim” forms they request.

7.    If you are still in possession of the card, shred it or cut it into small pieces before throwing it away.

Checking Account fraud

If your checking account number has been stolen or charged fraudulently:

1.    Immediately notify your bank.

2.    Inform them of any known fraudulent activity on your account.

3.    Have the bank close the checking account and issue you a new account number and debit card.

4.    Identify any other fraudulent activity that may be on your account.

5.    Make sure none of your own checks have been refused payment (bounced) because the fraudulent activity reduced your balance.

6.    Complete any “claim” forms they request.

7.    Destroy any remaining checks or debit cards you have for the account. Shred or cut them into small pieces.

Identity Theft

Identity theft occurs when a criminal obtains personal information, including:

• Your name
• Your address (and perhaps address history)
• Your Social Security number
• Your driver’s license number
• Your bank and card account numbers
• Your mother’s maiden name
• Your birth date and/or birth place

The best way to help prevent or stop your details from being used, is to report it to the police as soon as possible. They will give you the documentation necessary to proof that your identity has been copied.