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When your bank account gets hacked and money gets transferred online one should follow the steps given below to avoid further losses: What to do to recover lost money from hacked account: In case of online transactions we have a fair chance of recovering/blocking the transaction if we act within 24 hours from the date and time of the fraudulent transaction.Most of the victims miss out on these important steps and hence are unable to recover any of the money they have lost.If a bank account is hacked and the hacker/cybercriminal starts making online purchases using the stolen card information, bank account user name, password and/or PIN most of the victims expect the banks to repay.The banks however, refuse to help the victim on the grounds that the transaction was done with the actual card and the exact password and PIN was entered.The chances of you getting your money back then become stronger.In some cases like money transfer to individual through Pay Pal or some other benefits it is bit difficult to get back the money.In this post I will be referring to only those financial frauds that are done online.I will not be talking about frauds resulting because of physical loss of credit/debit card or ATM cash withdrawals.

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Every victim may not be lucky as in this case but one can always try to reach out to the merchant through whatever possible way and give them the real picture.First of all let me tell you that the bitter truth is that most of the victims do not get their money back.But there is prevention and there are ways for a cure.However, this is possible only if the merchant has not delivered the goods or process the transaction completely. In the case mentioned above, when I searched the Internet for Gymboree I was able to locate the merchant website. When the victim contacted the merchant through their website and gave details of the transaction it was confirmed by them that the transaction had taken place.The victim then convinced them that the transaction was fraudulent.

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