Contact your bank or financial service provider as soon as possible. The sooner you act, the greater the chances of stopping the payment.
A payment to an account outside Iceland may take several days to process. Once the money leaves the country, it becomes very difficult to recover. The recipient often transfers the money to multiple banks or even withdraws it in cash within a few hours of receiving the payment.
If the cybercriminal is based locally or requests a domestic transfer between Icelandic banks, the chances of recovery are higher.
Tracking cryptocurrency payments is nearly impossible, which is why extortionists and cybercriminals often request payment in cryptocurrency.
Report the fraud to the police. In the report, you will be asked to grant the police permission to access information about the payment from your bank. This is important to assist with the investigation. You can report here or at the nearest police station.
