When traveling abroad people must exchange their home country currency into money that the country they are visiting will accept. The internet contains many websites that offer to exchange money at discounted rates. However, many of these sites are actually fraudulent and seek to cheat you of your money. Unfortunately, many people have fallen for such schemes. However, there are several things you can do if you have been defrauded by a fake foreign money exchange website.

What Can I Do If I Have Been Defrauded?

If your money has been stolen by a fake foreign money exchange website, here a series of steps you can take in order to try to recover your money:

  • Contact the Police: Since money exchange websites can constitute fraud the local law enforcement officials may be able to locate the founders of the scheme to return money to the rightful owners.
  • Contact the Federal Trade Commission: The Federal Trade Commission (FTC) regularly helps the Justice Department prosecute money exchange fraud. If internet exchange websites have reached across state lines the federal government has jurisdiction to investigate and prosecute these individuals.

What Should I Do if I’m Unsure Whether an Internet Money Exchange Website Is a Fraud?

You should remember that money exchange fraud can be very deceptive and it is important to be on guard when contemplating using an online money exchange service. If you are unsure as to whether or not a site is fraudulent, it is best to not use it and to instead go to a bank or physical money exchange location. You can also look at consumer protection sites to see whether or not there is a trustworthy money exchange website.

Should I Consult an Attorney?

If it turns out that you have been defrauded by an online foreign money exchange a criminal attorney can help to advise you on a course of action. A civil suit against these operators requires an attorney experienced in fraud cases. In addition, an attorney may be able to help you recover any money you might have lost by suing any operators that can be found.