My mom was searching for a job and ended up getting caught in a cryptocurrency scam. I don’t know all the specifics, but the scammers convinced her to invest in some cryptocurrency and send them the details so they could “pay” her. Now, my parents are in a really tough spot.
They contacted the bank, and the bank initially refunded the money, but now they’re saying they might take it back because it was an “approved” purchase. If that happens, it will wipe out several of my dad’s paychecks.
To make matters worse, my mom has a serious spending problem. She’s still spending money they don’t have and gets angry when my dad asks her to stop. Is there anything my siblings, my parents, or I can do to help?
Hello James, This is the key point: the bank isn’t a safety net for poor decisions. Your mom did approve the transactions, so notifying the bank is essential—they can try to recover the funds and may involve law enforcement. Recovery is possible but not guaranteed. Also, consider that your mom’s overspending might indicate a deeper issue that needs attention.
Hey, Here’s a suggestion: Have your dad remove her from the main bank account and set up a separate account for her with a fixed weekly or monthly deposit. Once the funds are used up, she’ll have to wait until the next deposit. This worked for me with my ex-wife.
Hey James, Suggest to your dad that he separate their finances and have her employers deposit her portion of the bills into an account only he can access. If she doesn’t cooperate, he should still separate their finances. He can pay his half of the bills, and she’ll be responsible for hers. This limits the potential damage to just half the bills instead of all of them.
Hi, Advise your parents to file a report on the FBI IC3 website. If the funds were sent to a US bank account, there’s a small chance of recovery. If they went abroad, recovery will be nearly impossible.
Hello James, Discuss with your dad about freezing both his and her credit. Then, explain to your mom that she’ll receive a preloaded debit card with a monthly limit. Best of luck!