Realising something's gone wrong with a platform — a withdrawal frozen, a counterparty gone quiet, a balance you no longer recognise — is disorienting. The emotional weight is real. What you do in the first hours and days, though, has an outsized effect on what recovery routes remain open later.

This is the order of operations we walk clients through during the initial review at Polaris Resolutions. The aim isn't to chase every angle on day one — it's to keep options open while we figure out what's realistic.

Immediate actions: first 24 hours

Step 1: Pause further transactions and outbound contact

The moment you suspect a problem, stop sending funds and stop volunteering information. Do not:

  • Send any additional money, regardless of their claims about "taxes," "fees," or "final payments"
  • Provide any additional personal information
  • Click on links they send you
  • Download files or software they request
  • Grant remote access to your devices

Watch for "recovery fraud" follow-ups: third parties contacting you claiming they can recover your money for an upfront fee. This is a recognised secondary extraction pattern. A legitimate advisory practice will never demand cash up front to "recover" the original loss.

Step 2: Document Everything

Thorough documentation is crucial for legal action and recovery efforts. Collect and preserve:

Communication Records:

  • Screenshots of all messages (WhatsApp, Telegram, email, social media)
  • Phone call logs with dates and times
  • Recorded conversations if available
  • Names and contact details used by the counterparties

Financial Documentation:

  • Bank transfer receipts and confirmation numbers
  • Credit card statements
  • Cryptocurrency transaction IDs (TxIDs)
  • Wallet addresses you sent funds to
  • Payment platform records (PayPal, Revolut, etc.)

Platform Evidence:

  • Screenshots of the fraudulent website or app
  • Account login details (do NOT delete accounts yet)
  • Trading history or investment records shown on the platform
  • Terms and conditions or contracts
  • Marketing materials or investment promises

Technical Information:

  • Website URLs and domain registration information
  • Email headers (show full source)
  • IP addresses if available
  • Company registration numbers or business addresses provided

Create backups of all evidence in multiple locations. Use cloud storage and external drives. Evidence can disappear quickly as counterparties shut down websites and delete accounts.

Step 3: Contact Your Financial Institutions Immediately

Time is critical. Contact your bank or payment provider within 24 hours for the best chance of recovering funds.

For Bank Transfers:

  • Call your bank's fraud department immediately
  • Request a recall or reversal of the transfer
  • Ask them to contact the recipient bank
  • File a formal fraud report with the bank
  • Request all transaction details for your records

For Credit Card Payments:

  • Immediately dispute the charges
  • Request a chargeback under consumer protection rules
  • Provide all evidence of fraud
  • Cancel the card and request a replacement

For Cryptocurrency Transactions:

  • Contact the exchange where you purchased or sent the crypto
  • Report the fraudulent wallet addresses
  • Request they freeze the destination addresses
  • Document all transaction IDs for blockchain analysis

For Payment Apps (PayPal, Venmo, Cash App, etc.):

  • Report the transaction as fraudulent
  • Open a dispute through the app's resolution center
  • Provide detailed evidence
  • Follow up in writing with customer service

Step 4: Change All Passwords and Secure Your Accounts

If you provided login credentials or personal information to the counterparties, immediately:

  • Change passwords for all financial accounts
  • Enable two-factor authentication everywhere possible
  • Change passwords for email accounts
  • Update security questions
  • Check for unauthorized access to accounts
  • Monitor accounts for suspicious activity

Step 5: Run Security Scans

If you downloaded software or granted remote access:

  • Run comprehensive antivirus and anti-malware scans
  • Check for keyloggers or remote access software
  • Consider professional IT security assessment
  • Reset devices to factory settings if severely compromised

Within 48–72 Hours: Official Reporting

Step 6: File a Police Report

Contact your local police department and file an official fraud report. While local police may have limited ability to investigate international fraud, the report:

  • Creates an official record of the crime
  • Is required for insurance claims
  • May be needed for tax deductions
  • Supports legal action
  • Helps law enforcement track fraud patterns

Bring all your documentation. Request a copy of the report and the case number.

Step 7: Report to National Fraud Authorities

File reports with relevant Canadian authorities:

Canada:

  • Canadian Anti-Fraud Centre (CAFC)
  • Royal Canadian Mounted Police (RCMP)
  • Financial Consumer Agency of Canada (FCAC)
  • Provincial securities commissions
  • FINTRAC

Provincial Regulators:

  • Ontario Securities Commission (OSC)
  • Alberta Securities Commission (ASC)
  • British Columbia Securities Commission (BCSC)
  • Autorité des marchés financiers (AMF)

Additional Resources:

  • Competition Bureau Canada
  • Canadian Centre for Cyber Security
  • Better Business Bureau (BBB)

Step 8: Report to Platform Providers

If the scam involved social media, report to the platforms:

  • Facebook/Instagram
  • WhatsApp
  • Telegram
  • LinkedIn
  • Dating apps

If it involved a website, also report to Google Safe Browsing, the domain registrar, hosting provider and security services.

Within one week: bring in advisory help

Step 9: Engage an advisory practice that handles digital and investment disputes

This is the point where structured help becomes valuable. At Polaris Resolutions, an initial review covers:

  • Confidential initial review — complimentary, no obligation
  • Documentation analysis — what's intact, what's missing
  • Realistic options framing — routes worth pursuing vs. routes that aren't
  • Coordination with regulated counsel where the matter requires it
  • Cross-border angles — jurisdictional limits and timelines
  • On-chain tracing for crypto-related matters

Earlier engagement generally helps — documentation is fresher, counterparties harder to dissipate, and procedural windows still open.

Step 10: Consider Credit Monitoring

  • Enroll in credit monitoring services
  • Check your credit reports for unauthorized activity
  • Place fraud alerts if needed

Ongoing Actions

Stay Vigilant for Follow-Up Scams

Beware of “recovery” services demanding upfront fees, fake law enforcement, or claims about taxes to release funds.

Maintain Detailed Records

Keep a chronological log of every action, contact and reference number.

Follow Up Persistently

Stay on top of banks, police reports and any requests for information.

What NOT to Do

Don't delete evidence. Don't pay recovery fees. Don't keep it secret. Don't give up. Don't blame yourself.

The Recovery Timeline

  • Credit card chargebacks: 30–90 days
  • Bank transfer recalls: 1–4 weeks (if early)
  • Legal action: 3–12 months
  • Complex international cases: 6–18 months

Why Professional Help Matters

Expertise, resources, legal authority, persistence and experience — all increase recovery odds.

What honest outcome ranges look like

Outcomes vary widely by matter. Crypto-platform disputes often hinge on whether assets are still traceable on-chain when we're engaged. Bank-side recalls hinge on timing. Cross-border investment-product disputes hinge on jurisdictional cooperation. Anyone advertising a flat "recovery rate" is glossing over these differences.

What we do offer in the initial review is a realistic range — based on documentation, jurisdiction, timing, and the type of matter — so you can make an informed call about whether to engage.

Closing thoughts

Swift, methodical action genuinely improves outcomes. Every hour matters in the early window — but it's also rarely "too late to try" if some time has passed.

If you're working through a digital or investment-product incident now, request a confidential case review. We'll walk through what's realistic given where things stand.