68.8% of Scam Victims Make No Effort to Recover Their Money

Header

Author: James Greening

June 28, 2022

ScamAdviser.com surveyed 2,575 consumers from across the world asking them about their experience with trying to get their money back from scammers. 

While all income groups, educational categories, age levels and continents are represented, mostly men (77%) participated. This trend is similar to our ‘Why Do Consumers Buy Fakes?’ report, where 67% of the participants were men, suggesting that men may be falling for scams more than generally thought.

Curiously, most of the victims have reported being from Asia (39%) and Africa (32%). This goes to show that not only do several scams originate in those places, but scammers may be victimizing more people domestically than internationally. 

Most money is lost to Investment Scams (40.2%)

Investment scams (40%) seem to be the most common scams that consumers are getting trapped in. This is followed by Shopping Scams (15%), Money Recovery Scams (13%) and Job Scams (10%). Consumers are also losing money to Subscription Scams (7%), Romance Scams (5%) and Phishing (4%). 

Individual losses are not large but seriously impact victims

Most of the survey participants lost less than $100 (32%). 11% lost a huge sum of money - $5,000 to $10,000 – but 7% did not lose any money. 66% said that getting scammed had a significant negative impact on their finances.

Victims lost money majorly through Cryptocurrency (29.8%) payments

The payment methods most favoured by scammers are Cryptocurrency (29.8%) and bank transfer (21.1%). Scammers also favour Credit Card (12.4%) and Electronic Money Transfer (11.9%).

68.8% of the victims did not try to get their money back from the scammer

Not only did most victims not try to recover their funds, but it was also further reported that 66.1% of the victims who tried to recover their money failed to get it back. 

Even those who recovered their money were not always able to get the entire amount back as 14.4% said that they only got a partial refund. It is interesting to note, however, that more consumers were successful at getting a full refund (19.4%) than a partial refund (14.4%)

53.7% said they did not know how to get their money back

The main reason cited for not attempting to get a refund is that the victim did not know how to get their money back. A considerable portion also said that they did not try to recover the money as they did not think they would get it back even after trying (31.5%). 

Victims first approach the scammer (31.9%) for a refund

Among the consumers who did try to get their money back, they did so by approaching the scammer (31.9%) and their bank (28.3%). 16.7% approached the crypto exchange while 10.7% sought the help of money recovery services. Only 7.7% reported it to law enforcement. 3.4% tried taking legal action.

40.1% agreed that getting money back from the scammer was easy

On the brighter side, only 39% disagreed that it was easy to recover their money after being scammed.

Report a Scam!

Have you fallen for a hoax, bought a fake product? Report the site and warn others!

Help & Info

Top Safety Picks

Your Go-To Tools for Online Safety
Disclaimer: Some of the links here are affiliate links. If you click them and make a purchase, we may earn a commission at no extra cost to you.

  1. ScamAdviser App - iOS : Your personal scam detector, on the go! Check website safety, report scams, and get instant alerts. Available on iOS
  2. ScamAdviser App - Android : Your personal scam detector, on the go! Check website safety, report scams, and get instant alerts. Available on Android.
  3. NordVPN : NordVPN keeps your connection private and secure whether you are at home, traveling, or streaming from another country. It protects your data, blocks unwanted ads and trackers, and helps you access your paid subscriptions anywhere. Try it Today!
  4. Incogni : Incogni automatically removes your personal data from data brokers that trade in personal information online, helping reduce scam and identity theft risks without the hassle of manual opt-outs. Reclaim your privacy now!

Popular Stories

In a nutshell: A good VPN protects your privacy with strong encryption, a strict no-logs policy, and fast protocols like WireGuard. The best VPNs also offer wide server coverage, leak protection, and easy-to-use apps for all devices. For 2025, the top providers are NordVPN, ExpressVPN, Surfshark, Proton VPN, Private Internet Access, CyberGhost, and Mullvad—each excelling in speed, security, or value. In an age where every click is tracked, a Virtual Private Network (VPN) is no longer just a luxury—it's an essential tool for digital privacy and security. A VPN works by creating a secure, encrypted tunnel between your device and the internet, masking your real IP address and protecting your sensitive data from prying eyes. But with hundreds of providers out there, how do you sort the secure from the suspect? This guide breaks down the non-negotiable features of a quality VPN and highlights the 7 top-rated services for 2025. What to Look for in a Good VPN: The 4 Non-Negotiable Pillars 1. Ironclad Security Features Strong Encryption: AES-256, the gold standard. Secure Protocols: OpenVPN, WireGuard, NordLynx, Lightway. Avoid PPTP. Kill Switch: Ensures no accidental IP leaks. Leak Protection: Covers DNS, IPv6, and WebRTC. 2. Verified Privacy Practices No-Logs Policy: No activity or metadata tracking. Independent Audits: Verification by third parties. Safe Jurisdiction: Prefer countries outside the 5/9/14 Eyes alliances. 3. High-Speed Performance Fast Protocols: WireGuard and equivalents. Large Server Network: Less crowding, more reliable speeds. 4. Essential Usability Features Multi-Device Apps: Windows, Mac, iOS, Android, routers. Simultaneous Connections: One account, many devices. Unblocking Power: Netflix, Hulu, BBC

How to Protect Yourself and Your Family After a Data Breach When Your Data Falls Into the Wrong Hands Just received that terrifying notification? Or perhaps you've noticed suspicious activity in your accounts? Take a deep breath. A data breach, the unauthorized access or exposure of sensitive, protected, or confidential data, is a deeply unsettling event. It can plunge you into a world of worry, bringing risks from financial losses and identity theft to significant emotional distress and reputational damage. The numbers don't lie: according to a 2024 report, the number of data breach victim notices has grown by a staggering 211% year-over-year. This isn't just a distant threat; it's a stark reality many individuals face. This year alone, we've seen major organizations like Adidas and Qantas grapple with high-profile data breaches, affecting countless customers. This underscores a critical truth: nobody is untouchable. Subsequently, strategic action is the only way to minimize the risk and protect your future. This guide is your emergency action plan, designed to walk you through every crucial step—from confirming the breach to fortifying your digital life for the long term. Part 1: Confirming the Breach and Understanding the Damage The very first step is to answer the question definitively: Was my data compromised, and if so, how badly? Start with the basics: Check Official NotificationsReputable companies are legally obligated to inform you if your data was part of a breach. Look for official emails, letters, or public announcements. Check Verified Breach DatabasesPlatforms like HaveIBeenPwned help you see if