5 things to know to get money back after a scam
Recovering money after a scam is not only difficult, but also time-consuming and frustrating. There are no guarantees your financial institution will be able to recover scammed money, but here’s what to know to get money back from chargebacks, bank transfers, wire transfers and other payment methods.
We recommend always reporting your loss to police, even if they don’t want to take the complaint.
Debit and credit card payments to scammers
If you've been scammed and paid using a credit or debit card, you may be able to request a chargeback — a process where your financial institution asks the card company (like Visa or Mastercard) to reverse the transaction.
Call your financial institution immediately when you discover the scam.
You usually need to raise a dispute with the card merchant first, and outline why the goods or services were not delivered as promised.
Every card scheme has different rules and codes for their scheme.
If you believe a bank or card provider has incorrectly rejected a chargeback request, you can dispute the decision through the Australian Financial Complaints Authority (AFCA).
2. bank transfer payments to scammers
Bank transfers are commonly used in Australian fraud and cybercrime.
Financial firms don’t use the name to process payments, so there is a big loophole for criminals and scammers to exploit. Personal transaction accounts are one of the most common payment methods scammers use.
Yes, there is new name-checking technology - called Confirmation of Payee - in most online banking apps, but the terms and conditions of your bank account will usually refuse to refund you if the name does not match the account.
AFCA’s annual review of scam complaints shows how personal transaction accounts are a common vulnerability in our banking system
If you've been caught out by a sophisticated or convincing scam which tricked you into transferring your money into another bank account, then you should contact your bank immediately.
Tell the bank what happened, and let it know the bank account number your money was sent to.
The bank can try and recover the funds once it has been notified, but usually it doesn’t recover any money.
3. PAYPAL payments to fraudsters and scammers
If you paid for an item through PayPal and it wasn’t delivered, you may be covered by PayPal Buyer Protection — but you must claim within the time limit and meet certain conditions.
Impersonation scams are rife with payment providers like PayPal or Stripe. Be cautious of fake PayPal or Stripe pages that collect your bank details — these scams aren’t technically covered by PayPal, as the platform wasn't involved in the payment, even though it was impersonated.
Sellers can also be targeted. To be protected under PayPal’s Seller Protection, items must be sent to the buyer’s registered address with proof of delivery. If a buyer collects in person or uses a different address, you may not be eligible for protection.
4. Cash or gift card payments to scammers
Unfortunately, it can be very difficult to get your cash back after a scam.
This is also the case if the scam involved gift cards or vouchers. Scammers commonly trick people into sharing the numbers on the back of gift cards or vouchers.
Talking to others about what's happened, and hearing about the experiences of others who have been through the same experience can help.
5. money transfers through wire services or money transfer apps
Unfortunately, it's not always possible to get your money back if you paid via a wire service such as Wise, OFX, Revolut or Western Union.
All of these services provide advice on how to avoid fraud and scams, so it’s a good idea to read their guidance to safeguard yourself against future scams.