What to Do if You Think You Have Been Scammed Over the Phone

You feel that sinking pit in your stomach—the one that happens when you think you've been scammed over the phone. Maybe it was a smooth-talking representative who convinced you to hand over personal information, or perhaps a recorded voice told you your bank account had been compromised. Whatever the situation, it is alarming and can send you into a tailspin. But here's the key—don’t panic.

1. Act Fast, But Don’t Act Rashly

The first thing you need to do is regain control. Scammers often rely on the fact that they can manipulate victims who are stressed and scared. That's why they give you such urgent deadlines like, “You have to transfer the money immediately, or else!” Instead of panicking and reacting on impulse, take a deep breath. The quicker you act logically and systematically, the better your chances of reducing or eliminating the damage. Follow these steps carefully:

2. Hang Up and Don’t Engage

Once you suspect that a call is a scam, it’s best to hang up immediately. Do not try to engage with the scammer or ask them questions, as this can lead to further manipulation or confusion. The longer you stay on the line, the more information they may gather or trick you into providing. Scammers are often well-trained in psychology and know how to elicit emotional responses. Remember, they called you, and you don't owe them anything—not even an explanation.

3. Verify the Caller Independently

Never trust a number that someone gives you during a suspicious phone call. Instead, look up the organization or business’s contact details independently. If someone claims to be from your bank, utility company, or even the IRS, contact the company directly using the number on their official website. Explain the situation and ask if they have made any attempts to reach you. This simple step can quickly help you determine if the call was legitimate or a scam.

4. Report the Scam

Once you’ve confirmed that the call was a scam, it’s crucial to report it to the appropriate authorities. Reporting doesn’t just help you; it can also prevent others from falling victim to the same scam. In the U.S., you can report phone scams to the Federal Trade Commission (FTC). Other countries have their own consumer protection agencies, such as Action Fraud in the UK or the Australian Cyber Security Centre (ACSC). These agencies track scam reports and work with law enforcement to crack down on fraudulent activities.

You should also report the scam to your phone carrier. Many service providers offer features to block scam numbers or filter suspicious calls. It’s also worth filing a complaint with the Better Business Bureau (BBB) if the scam involved a business or a company name.

5. Contact Your Financial Institutions

If you’ve shared personal financial information—such as your bank account number, credit card information, or any login details—you need to contact your bank or credit card company right away. Most institutions have fraud protection in place, and they can help you stop or reverse transactions if caught early enough. Cancel your card and request a new one if necessary. Also, monitor your bank and credit card statements regularly for any unauthorized charges.

6. Freeze Your Credit

One of the most effective ways to protect yourself if you've been scammed is by freezing your credit. When you freeze your credit, it prevents anyone (including scammers) from opening new accounts in your name. Contact the major credit bureaus—Equifax, Experian, and TransUnion—to initiate a freeze. This process is usually free, and you can lift the freeze at any time if you need to apply for credit in the future.

7. Monitor for Identity Theft

Phone scams can sometimes be the precursor to more severe forms of fraud, such as identity theft. Keep an eye on your credit report for any suspicious activity, such as new credit inquiries or accounts you didn’t open. Use credit monitoring services, many of which are free, to alert you to changes in your credit profile. Additionally, consider using identity theft protection services, which offer tools to monitor and respond to threats of identity theft.

8. Block and Screen Future Calls

Most smartphones today come with built-in features to block or screen calls from suspicious numbers. Additionally, there are third-party apps such as Truecaller, Nomorobo, or RoboKiller that specialize in identifying and blocking scam calls. These tools won’t completely eliminate the possibility of receiving a scam call, but they will significantly reduce the likelihood.

9. Stay Informed About New Scams

Phone scams are constantly evolving, and scammers are always finding new tactics to trick unsuspecting victims. Stay up-to-date on the latest scams by checking with official sources like the FTC, your local police department, or consumer protection agencies. They often publish lists of the latest scams and tips on how to avoid them. The more you know, the harder it will be for scammers to fool you.

10. File a Police Report If Necessary

If you’ve lost money as a result of a phone scam, file a police report. While law enforcement might not always be able to recover lost funds, having an official record can be useful for insurance claims or other legal purposes. In some cases, law enforcement may be able to track down the scammer or provide further guidance on what steps to take next.

Common Types of Phone Scams

Here’s a quick rundown of some of the most common phone scams to look out for:

• IRS or Tax Scam: A scammer claims to be from the IRS, stating you owe back taxes and threatening legal action unless you pay immediately.
• Tech Support Scam: The caller claims your computer has a virus and asks for remote access or payment to fix it.
• Lottery or Prize Scam: You’re told you’ve won a prize or sweepstakes but need to pay a fee to claim it.
• Bank or Credit Card Scam: A caller pretending to be from your bank asks for account details or says there’s an issue with your account.
• Robocall Scams: Automated messages pretending to be from legitimate businesses, asking you to press a button or provide information.

The Bottom Line: Stay Calm and Act Fast

Being the target of a phone scam can be unsettling, but how you react is key. Stay calm, trust your instincts, and follow the steps outlined here. Quick action can mitigate or completely prevent financial loss and long-term consequences like identity theft. Remember, it’s okay to be suspicious of unexpected phone calls, and you have the right to verify the legitimacy of any request for personal information. Stay vigilant, and don’t be afraid to hang up the phone.