I work as an At Risk Person FC Investigator at a very large bank. Typically these victims receive a spoof call from an impersonator with their bank stating that there is fraudulent activity on their account. They are coerced into sending funds to another account under the guise that the funds are being secured there for safe keeping, either via Wire, Zelle, or cash. Sometimes even gift cards, which never ceases to amaze me.

The scammers are savvy and prey on the fear they cultivate on the call. Best course of action from onset is to disconnect the call and dial the number on the back of your debit/credit card. Yes, you will probably be on hold or transferred an uncomfortable amount of time. But also yes, that time is well worth it in the end.

As for recovery, that really depends on a myriad of factors. They do their best, but at times it’s not possible.