It Can Be Hard to Recover From "Recovery" Scams
It's an alluring offer: You hear from someone who claims to be able to help you recover money you lost from a previous investment or other fraud. The information sounds credible, and at first glance the organization appears legitimate. The money that's promised isn't only welcome but seems well-deserved compensation for previous losses.
The catch? They want you to pay money up front for the recovery "services," which are almost always fraudulent themselves. In addition to the amount you lost originally, you're now at risk of losing more money at the hands of professional criminals.
These scams are a form of advance fee fraud -- when someone charges a fee up front for a service or product they have no intention of delivering. Recovery offers can be tempting, especially if you've already lost a large sum of money and are anxious to reclaim any amount you can. But engaging with these scams will only further your losses.
Source Fool.com
