What exactly is a money recovery scam?

Money recovery scams are orchestrated by criminals looking to further take advantage of those that have already found themselves to have fallen victim to a previous scam (be it an investment fraud, romance or technical support scam etc.). The money recovery scam is likely to be conducted by the person that had originally performed the initial con and so they are aware of the vulnerable and distressing situation that the victim finds themself to be in. At other times, criminals will share contact details of victims between themselves and thus allow other criminals to target those victims. Of course, when money has been lost, it is tempting to work with people who promise you they can recover your lost funds. However, you should always proceed with caution.

Here is what to look out for:

You receive a phone call or an email from a company claiming to help you retrieve your lost funds. They know of a way even though you’d previously been informed it would not be possible. They somehow appear to know the ins and outs of your entire dilemma such as how much money was lost, the company name that partook in the scam, the fraudulent agent you were previously in communications with and when exactly the unfortunate event took place. 

The company claims to have previously helped victims that have fallen for the same scam as you and they helped them recover the majority of their lost funds. 

They just need an upfront fee or percentage of the funds you lost in order to move ahead with the money recovery process. As soon as the upfront fee has been paid, often communication with the fraudulent agent helping you tends to cease or the communication received is short and along the lines of ‘we’re working on it’. 


How to mitigate the risk:

  1. Be wary of unsolicited phone calls you may receive. When plausible, it may be best to consider changing your contact details to mitigate all risk of being contacted by these fraudsters.
  2. Do not engage with anyone who contacts you out of the blue via phone or email claiming they can help you recover your lost funds. Hang up the phone. Such companies would in fact wait for you to reach out to them.
  3. Watch out for pushy and aggressive tactics whereby the scammer pressures you into paying them an upfront fee in order to work on the recovery of your funds. Most reputable firms would not request payment until services are rendered nor would they pressurise you into making a decision on the spot. 

If you are concerned and think you may have already been a victim of a money recovery scam please do not hesitate to get in touch with us at support@nuri.com and we will be happy to support you.

You will be put in touch with an experienced agent who will be able to offer you support and guidance on this matter. Your account safety is our top priority and we’re here to help you.