4 Steps to Take If You Fall Prey to Fraud
Finance/Money

4 Steps to Take If You Fall Prey to Fraud

As time goes by, doesn’t it seem like the world is just becoming more corrupt and that essential values like honesty and loyalty are becoming less prevalent? Nowadays, it seems harder to trust people and therefore, we need to take precautions before we are hoaxed by someone. However, just because you keep yourself doesn’t mean you can never be a victim of fraud? We are all in one way or another helpless and can be victims of fraud. The important thing you need to know is what steps to take when such an event occurs.

1.      Contact the Police

Regardless of what type of fraud you are victim to, be it credit card fraud, bank fraud or internet fraud, the first thing you need to do when you fall prey to this menace is contact the police and bring everything to their attention. Fraud is a crime. If you fail to report a crime, you could be endangering someone else to fall victim to the same scenario; you never know who else the fraudster is planning to trick. Therefore, when you learn about fraud, make sure it’s reported immediately – there can never be a better time to report this crime; the second it comes to your knowledge, you need to report it.

2.      Freeze All Your Accounts

Once again, we repeat, regardless of the fraud you have become victim to, you should report the matter to your bank and freeze all your bank accounts temporarily. This step is significant to take because you just never know what other confidential information the fraudster is after. By freezing your accounts and shutting off your credit and debit cards, you are protecting yourself from further damage and harm. You should also make sure to change the PIN number on your debit card/s. You can also ask your bank for a new credit/debit card for your account/s.

3.      Change All Passwords

Don’t play it cool after any fraudulent activity, like we mentioned before the fraudster could be up to anything at any time. The next step you should take after freezing your bank account/s is to change your password on all platforms possible. This includes your email, your phone, your bank account/s, even social media platforms; do whatever you can to protect yourself. A great idea would also be to inform your employer of what happened so they too can take precautions and look out for anyone pretending to be you on email or anything other software you may use at work.

4.      Inform Family & Friends

The last thing you need to do after a fraud is to let your family and friends know of what happened. This is important for two reasons. The first is by providing emotional support. Being a victim to fraud isn’t something easy to handle and you may find yourself to be overly hyper and shocked at the event. Second, you can always count on your friends and family to provide you support in helping you with protecting your confidential information and maybe even capturing the criminal.

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