“You’ve Been Selected for a Refund”: Don’t Let a Fake Reimbursement Cost You Money

Key Takeaways

• Unexpected refund messages should always be independently verified.
• Legitimate organizations generally don’t need your online banking password to issue a refund.
• Never allow an unknown person remote access to your computer or phone.
• Don’t return an alleged “overpayment” without verifying the transaction.
• Contact the organization through a trusted phone number or website.

Main Article

A message saying you’re owed money is difficult to ignore. Scammers may claim you’re eligible for a refund from a retailer, utility company, government agency, financial institution or subscription service. The amount may be small enough to seem reasonable—or large enough to make you act quickly. Either way, the goal may be the same: getting access to your money or personal information.

How a Refund Scam Can Begin

You may receive a phone call, email, text or pop-up saying you:

• Overpaid a bill.
• Were charged incorrectly.
• Qualify for a government reimbursement.
• Are receiving money from a canceled subscription.
• Are owed compensation following a data breach or settlement.

The scammer may ask you to click a link or call a number to receive the money.

The Fake Overpayment Trick

In one version of the scam, the fraudster convinces you that too much money was accidentally deposited into your account.

For example, you may be told you were owed $300 but received $3,000.

The scammer then urgently asks you to send the difference back.

They may instruct you to use:

• A wire transfer
• A payment app
• Gift cards
• Cryptocurrency

The original “refund” may be fake, reversed or simply manipulated to appear on your screen.

The money you send, however, is real.

Never Give Remote Access

A legitimate company does not need to take control of your computer to issue a refund.

If someone asks you to download remote-access software or share your screen, stop communicating with them.

Remote access could allow a criminal to see passwords, financial accounts and personal documents.

How Can You Verify a Refund?

Contact the company independently.

Do not use the phone number, email address or website supplied by the person offering the refund.

Instead, use:

• The phone number on your account statement or card
• The organization’s official app
• A website address you already know is legitimate
• Contact information from previous trusted correspondence

And remember: receiving unexpected money doesn’t necessarily mean you’re required to send money somewhere else.

A legitimate refund should put money back in your pocket. It should never require you to risk losing more.