The moment an unauthorized charge pops up on a bank account, a person’s mood can go from calm and collected to flustered dismay and panic.
With online shopping hitting record highs following the pandemic, the Federal Trade Commission (FTC) reported data showing more than 2.8 million fraud reports from consumers in 2021, totaling over $5.8 billion — an increase of more than 70% over the previous year.
But what can someone do the moment they see a fraudulent charge on their account?
Ryan Thomas, marketing specialist at Corry Federal Credit Union, said the first thing anyone should do is call their bank.
Being inundated with information, it can be difficult for people to know what steps to take. That’s why Thomas said calling the bank is the best first step to take, and they can direct a customer from there.
The next question is what reports need to be filed. The FTC asks that people report anything that could be a fraud, scam or bad business practice, as the FTC and its law enforcement partners enforce a variety of laws, and knowing about problems can help officers to spot them easier.
As for a police report, it’s only advised in certain situations, of which the bank can advise.
Thomas said police reports are helpful for cases where the customer knows who committed the fraudulent charge, otherwise, the police can’t do much.
