In this blog I will be focusing on the ways to strengthen the possibility of recovering your money in situations where your bank account is hacked or your credit card or debit card details have been stolen and misused.

I will not be talking about how to prevent a bank account from getting hacked because we have discussed it at length in various posts.

But if the cybercriminal does online purchase of some items/services then there are high changes of blocking the transaction and getting the money back.

To recover money lost in 419 scams In case of scams like 419, where the victim himself transfers the money to the cybercriminal, the money can be recovered if he/she acts fast.

So what one should do along with the above given steps is to observe the fraudulent transaction details carefully.

For every transaction the bank provides very limited but important information of the date, time and the merchant id/string on which the transaction was performed.

When a hacker/cybercriminal hacks the bank account and has access to user’s login name, password and PIN they start making online purchase and money transfers immediately.

They try to get the maximum amount out before user blocks the credit/debit card or changes the bank login details.

First of all let me tell you that the bitter truth is that most of the victims do not get their money back.

But there is prevention and there are ways for a cure.

For example if you transfer money to the scammer by say Western Union or Money Gram and you realize that it was scam in less than 24 hours you have very good chance to get your money back.