I WAS SCAMMED - AND IT TRANSFORMED MY LIFE

 Doug Dunn

 

I will spare you the details of what happened to me in September 2020. 
But here are a few dos and don’ts I got to learn.


When looking for fixed rate savings accounts don't just google. Better to go via a reputed money market website or a Financial Advisor recommended by the Financial Conduct Authority. Don't rush because you have something more important to do. Transferring a large amount of money is important and it is worth letting your bank know. Don't be fooled by a person on the phone even if they sound genuine and helpful. If they know more about you than you know about them be suspicious, especially if they keep calling.

What happened was I paid a large amount of money to what I thought was a saving bond account. Within seconds it was gone, money that took years to save.  

A few days later it struck me as odd to not receive a single email of confirmation. I woke up at 4 in the morning and it literally dawned on me "I've been scammed!" That morning I visited my bank and even called the investment company on the bank’s phone. They said there was a delay with their system but I should get a confirmation email that day.


No email. Eventually my bank’s fraud department established that it was a scam and they would be investigating. The investigation would take up to 45 days. That was a very long 45 days of feeling ashamed, wrong and angry. How dare they take my money!


I didn't tell many people but those I did speak to said they too had been scammed, and didn't get the money back. They didn't tell people either. Like me, they felt ashamed for being so stupid.


One good friend said not to lose your mental health as well as your money. She said to think of it as a life lesson and try to make the money back. Another said to keep a spreadsheet showing how I would make the money back. That was a good suggestion. I started renting my house to two tenants and thought of going back to work. I even started writing a book about my scam story.


Each day, when a letter came in the letterbox, my heart jumped expecting it to be from the bank. After 45 days I had almost given up hope. Then one time when I went to view my online current account, you can't imagine my surprise.


SCAM REFUND £*****.**


Paid in full. How wonderful! Yes it was a 5 figure amount!

 

I now see what happened as an accomplishment. I stayed in communication and didn’t give up or get depressed. I was very lucky and I am grateful that my bank kept to their agreement to reimburse fraudulent transactions, especially as it happened during the Covid pandemic.

 

What’s Possible Now?

When I received the money in my account it was a wonderful moment. Not only did I get my refund but I could stop making myself wrong for being irresponsible with money. I could stop thinking “there is something wrong with me”. I made a big mistake and I am very lucky to not be damaged by it. I did miss a bullet and now feel I want to warn others of the danger that is out there from financial fraudsters. But there are good eggs out there too, and it is worth taking time to invest safely.

 

What I see now is a new possibility of being grateful and generous with the money I am lucky to have made. I was fortunate to live in London at a time when it was relatively easy to jump onto the property ladder. Today it is more difficult for young people to save enough to make that jump.

 

As a way to show my gratitude I created 10 gifts to celebrate my refund. These included paying for my family Christmas food, dinner out after lockdown, a bottle of wine for my neighbour for being a teacher. The final gift is one I gave to myself and my new partner; to create a lifelong, stable relationship.

 

 

 

 

 


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