How to Recover Money After Being Scammed

Scams are evolving at a rapid pace, and every year brings a new wave of tactics designed to deceive people. Fraudsters constantly reinvent their methods, shifting between different strategies depending on what’s most effective at the time. Recently, there has been a noticeable rise in sophisticated investment fraud—especially involving cryptocurrency—alongside schemes where scammers pose as “recovery specialists” offering to help victims reclaim lost funds. These changing patterns make it harder than ever to keep up, and many people are left wondering: Is it even possible to get my money back? The answer is: yes — recovery is sometimes possible, but it depends heavily on how quickly you act, the type of scam, and the steps you take immediately afterward. If you’re trying to understand what to do next, and whether you still have a chance of retrieving your funds, this guide will walk you through the key options and realistic expectations — without any recycled content from other sources.

Is it Easy to Recover Money from a Scammer?

Recovering money from a scammer is rarely straightforward. The most important thing to understand is this: if a company tells you it’s easy, they’re probably trying to scam you again. In the past three years, there has been a sharp rise in fraudulent “recovery services” that promise fast results. These scams are often just as deceptive as the original ones, and in many cases, it’s nearly impossible to tell the difference between a real investigator and a fake one.

If you’re considering trying to recover funds, the first step is identifying who actually has your money. Without that key piece of information, recovery isn’t possible. That’s where We step in. We specialise in cyber investigations related to scams and financial fraud. Based in the United Kingdom and operating since 2015, our team has helped countless individuals trace where their money went. If there’s anyone who can uncover who scammed you — and how — it’s us.

First Step for Recovering Money Lost to a Scammer

In our view, there’s little value in talking about recovering funds until the person behind the scam has been clearly identified and located. Many recovery services — both genuine and fraudulent — will offer a full recovery package upfront, but the truth is they cannot accurately estimate the cost or timeframe until the offender has been traced. These all-inclusive quotes are often misleading, and it’s common for additional charges to appear later once the original budget has been exhausted. At Digitrace, we take a different approach. We begin by quoting only for the initial investigation whose purpose is to determine who the scammer is and where they are operating from. Any subsequent investigative stages, along with the associated costs, will only be discussed if and when they become necessary.

Does Digitrace Recover Money?

In most situations, the answer is no. Our specialty lies in private investigation, and our primary mission is to identify the individual or group responsible for scamming you. Once we know who the offender is, we can then explore options such as locating them, analysing their background, and determining whether a realistic recovery plan can be created.

There are rare occasions where we will assist directly with recovery, but these cases are the exception rather than the rule. When recovery support is needed, we typically refer clients to a trusted partner — someone who has been vetted by us or recommended through law enforcement channels. Depending on the circumstances, this may also include a solicitor or a qualified asset-recovery practitioner.

Below, we outline practical steps you can take if you want to pursue the recovery of stolen funds or cryptocurrency.

What Type of Scam Is It?

Before you can decide on the best recovery approach, it’s essential to understand which type of scam you’re dealing with. Different scams require different strategies, and identifying the category will help determine your options. Here are some of the common types:

• Phishing Scams

Phishing schemes are among the most widespread forms of fraud. They usually arrive through email, SMS, or messaging apps and aim to lure the victim into clicking a malicious link. Once the link is opened, the victim is prompted to enter sensitive details such as passwords, bank information, or personal data — information the scammer will then use for unauthorized access or financial theft.

• Investment Scams

Investment-related scams cover a wide range of fraudulent schemes, including cryptocurrency, forex, contracts for difference, precious metals, and similar financial products. In many instances, scammers operate polished, professional-looking trading platforms to draw victims in and give the impression of legitimacy. Behind the scenes, however, nothing is real — no trades take place, no investments are made, and every figure shown on the screen is fabricated.

• Romance Scams

Romance scams almost always take place online, where scammers can easily hide their identity. These fraudsters build emotional connections with their targets by creating convincing stories, presenting false information about themselves, and developing trust over time. Once they feel they have gained enough influence, they manufacture an urgent situation that requires financial help. These scams can continue for months — sometimes years — with the sole intention of extracting as much money as possible from the victim.

• Cryptocurrency Scams

Cryptocurrency fraud is essentially a subset of investment scams. The tactics and structure are similar to other investment schemes, so refer back to the investment scams section above for a more detailed explanation.

• Online Shopping Scams

These scams typically involve counterfeit websites or fraudulent sellers advertising goods on popular marketplaces such as Google Shopping, Facebook Marketplace, or Gumtree. After the victim makes a payment, the scammer either sends nothing at all or disappears entirely, leaving the victim without the item or their money.

Reporting a Scam

Even though many government agencies are unable to help recover stolen funds, it is still essential to report the scam. Submitting a report helps protect others by contributing to national data on scam activity and ensures authorities allocate appropriate resources toward combating fraud.

Because Digitrace works closely with government bodies, we will need a police report number along with the contact details of the officer handling your case. For this reason, we often direct clients back to official reporting channels so a formal record is created.

There are numerous government reporting bodies across the globe, and the correct one to contact will depend on where you live. For example, individuals in the United States typically report scams to the Federal Trade Commission (FTC), UK citizens report to the Competition and Markets Authority (CMA), and residents of the United Kingdom submit reports through Action Fraud.

At Digitrace, we specialise in advanced investigative work aimed at identifying the individuals or groups behind scam operations. While we do not directly perform asset recovery, our core strength lies in uncovering offenders and compiling the evidence required for legal proceedings or for handing over to the appropriate authorities.

How is Money Recovered?

Once the scammer or the group behind the operation has been identified and their location confirmed, Digitrace will assess the most practical route for attempting recovery. The strategy will depend on numerous factors — including whether the stolen assets were traditional currency or cryptocurrency. It’s important to understand that this stage can be complex, costly, and is rarely supported by police involvement.

As outlined earlier, possible recovery pathways may involve referrals to a solicitor, a professional asset-recovery organisation, or a dispute-resolution specialist.

A solicitor can assist by formally engaging with the offender on your behalf. In some cases, scammers prefer to settle quickly once they know they’ve been exposed. In other cases, the offender may contest the situation, attempting to gauge your financial capacity and your determination to pursue formal legal action.

Conclusion

Recovering stolen money or cryptocurrency can be achievable, but the process is often challenging, time-consuming, and different for every individual case. Because no two investigations are the same, we cannot offer a standardised price upfront. However, you can speak with our team at +44 2871 555 027, and we will assess your situation free of charge. After reviewing the details, we will provide a tailored quote based on the specific requirements of your case. If you prefer, you can also reach out by submitting a contact form using the button below.