Reporting scams have a lot of advantages not just for you, but also for everybody else. Well, except of course for the scammer! However, why don’t many users report scams as soon as they fall for these fraudulent schemes on the Internet?

The simple answer is that a lot of them believe that reporting scams takes a lot of time and energy. This is a misconception, since a wide variety of tools and resources are now available for users to report scams. These make it faster and simpler for users to report Web crimes as they encounter them. Today, all a user needs to do is go online or use the phone, click a button and share related details to report a scam.

You might be thinking that a main reason why users don’t keep on reporting scams is because they won’t be able to recover their money. So, to give you a quick answer:

No, this isn’t true. You’d most likely be able to recover your money. Here’s how you can increase your chances by reporting scams:

How Reporting Scams Can Help Recover Your Money

  1. When you report a recent scam to your bank, they can assist you in filing for a chargeback. You can do this if you used your credit card or bank account to send money to these scammers. Doing this can help you quickly recover your money.
  1. By reporting Web scams to your bank when you find some suspicious transactions in your credit card or bank account statements, then you can confirm if you’ve been a victim of hacker attacks and credit card theft. Once you verify that you’ve lost money to these scammers, then you can file for a chargeback against each of these fraudulent transactions. Not only will you be able to recover your money, but your bank can also file incident reports for you to your local authorities.
  1. When you contact the support staff of your Web wallet or online payment account provider once you see suspicious transactions, then they can help you verify these flagged transactions. They can then guide you through the necessary steps that you need to take to recover your money. There’s a good chance that your providers will be able to recover your losses just by simply reporting scams to them.

However, keep in mind that there are certain time periods for the validity of your claims. Some banks and Web payment providers give their customers 90 days to file disputes and chargebacks against potentially illegitimate transactions. Others give 180 days or so. Remember this when reporting scams, so you can anticipate if it’s still valid for you to try and recover your money.

Don’t forget to gather as much relevant documents, logs and screenshots that can prove you’ve been conned out of your money by these criminal syndicates. This will make it quicker and easier for you to complete this process. Also have your valid IDs handy, so you won’t have any problems when reporting scams and validating the authenticity of your claims.

So, if you run into others who say you won’t be able to recover your money just by reporting scams, then point them to these tips. Also share this with your family, friends and colleagues to convince them to report scams as they encounter these fraudsters on the Internet.