Fraudsters offering chargeback services, how they work
It is easy to recognize a fraudster if you know the basics of jurisprudence and pay attention. Analyze information about the company:
- Abundance of advertising. Any means are used to attract the deceived trader to you. Intrusive SMS mailings or calls, bright banners, but the lack of reviews should be the first thing to alert.
- 100% money back guarantee. No company can give an accurate assessment of the possibility of a return, since not all banks make concessions.
- Fast return. Not a single financial institution will return your funds earlier than in 3-4 months.
- A promise to give back money that was transferred without using a bank card. Chargeback is available only to their owners.
- Making an advance payment. Payment for the entire procedure takes place after the money is returned to the client and according to official payment documents.
What happens next
The process begins with you calling the number offered or leaving your phone number, then they call you. And they say that your situation can be helped, they have already had just such cases, and they know perfectly well how to work with it, and it doesn’t matter what your situation is, they can help even if you made a deposit with a broker and they leaked it themselves.
Be sure to ask what amount we are talking about. Most representatives of these companies will refuse to tell you the amount of their services until they know how much you want back.
Further variations are possible: either you are offered to send them all the documents to assess the situation, including a copy of your passport, or immediately make an advance payment for their services, or conclude an agreement, and only then make an advance payment and send the documents. Or you can agree on “post-payment”, where you pay a certain percentage of the funds returned to your card. But not all “chargeback” companies agree to this; as a rule, everyone asks for an advance payment.
After settling all documentary and financial procedures, they begin to work on your problem (or not, depending on whether the company is purely fraudulent, partially fraudulent or normal).
How to get money back from a scam broker
If you become a victim of scammers, it is too early to despair. Within 540 days from the date of payment, you have a high chance of canceling the transaction and returning the money to your account.
First, try to resolve the conflict peacefully by offering an honest refund. If the broker refuses or ignores you, collect correspondence, transaction receipts and prepare for the chargeback procedure.
Banks provide for manual submission of applications, but it is better to use specialized companies, as there are a number of risks when applying independently.
General information about chargeback
Chargeback is the process of challenging a transaction on a bank account (as a rule, we are talking about a payment transaction or transfer of funds), implying the return of funds back to the sender’s account. Most often, a chargeback is initiated by the account owner who wants to receive the transferred money back.
Chargeback from a broker becomes possible due to the fact that in the process of transferring money from the sender to the recipient there are several stages at once, designed to strengthen the protection of the money exchange process. The algorithm involves the participation of two banks: the acquirer, that is, the receiving and issuing bank, the sending bank, as well as the international payment system (abbreviated as IPS).
The acquiring bank receives the payer's card details and the amount to be debited, transfers it to the MPS, which contacts the issuing bank, and it confirms the transaction. After confirmation on the return route through the Ministry of Railways, the money arrives at the acquiring bank. This algorithm operates when making any transfer; the client goes through it before withdrawing money from the broker, and before crediting money to him.
Advantages of contacting chargeback specialists
“Independent Expert Community” specializes exclusively in assistance in the chargeback procedure, which allows the company to provide quality service. Clients know that lawyers will solve the problem using proven methods of interaction with brokers and bank employees.
The main advantages of working with NES include the following points:
- the company is officially registered;
- lawyers of the “Independent Expert Community” know how to influence scammers so that they withdraw money to the trader’s account;
- experience in communicating with employees of banking and law enforcement institutions allows lawyers to quickly resolve conflict situations and protect the interests of the client;
- the victim will not have to waste time searching and collecting evidence or visiting authorities.
The “Independent Expert Community” does not make false promises, but qualitatively fulfills its obligations.
Who are chargeback me?
Who are chargeback mi?
As we have already seen, the forex brokers website belongs to the same people. Why should Alena Vladimirovna from Bryansk register her company in Vanuatu ? It turns out that she, just like the brokers whom she called scammers, does not want to be subject to the law of the Russian Federation.
Chargebak me - agreement.
A very strange agreement. If the customer, that is, the trader, does not pay for the services, will he be charged 1% per day? A minimum of 30 days is always given for payment. But here they don’t want to wait.
Confidentiality must also be maintained. Why? After all, this is a legal action, and if the trader received the money, he can tell his friends or the bank. Only at the bank, they will fill out withdrawal documents for him free of charge and without additional interest.
What is the danger
Another danger is that some offices guarantee you a return, for example, of a deposit transferred to the broker, even if you lost it yourself. Then you become a fraudster, and it is you who can get into trouble, and this office will wash its hands. I also came across this when a criminal case was opened against a person for fraud, but they didn’t even look for the employees of such an office, limiting themselves to the reply “No other persons have been identified.”
And there are also such cases: you leave your phone number on such a site so that managers will contact you who will help you arrange a chargeback of your funds transferred to an unscrupulous broker, but instead you get a call from... a representative of the broker! Who persuades you to top up your account with him and start playing binary options or the Forex market! Totally absurd.
Blocking the withdrawal of money due to the trader's fault
Useful articles
What is Chargeback and how can you use it to return money stolen by scammers?
Why does everyone think that Forex is a scam for suckers?
Reviews about working as a trader: how beginners are scammed
We destroy myths about “promoted” forex traders in Russia and the world
I propose to consider the common reasons for blocking funds and the impossibility of withdrawing them.
Brokerage bonus not processed
This situation occurs due to the trader’s inattention when studying the information and documentation on the site. For example, participation in promotional offers requires the accumulation of a certain amount of funds in order to be able to withdraw later. Until the conditions are met, the money will remain blocked.
The client did not verify his account
Another common reason is the lack of verification, which automatically gives the broker the right to prohibit withdrawal.
The amount you can withdraw exceeds your account balance
Sometimes it happens that an investor requests an amount that is not actually in the fraudster’s account. This happens because applications are processed for a long time and during this period subsequent participation in the auction with a negative result is not excluded.
Story No. 2. Detective
Returning home, I read the reviews about this place, realized that I did everything right and was not mistaken in my conclusions.
Realizing that you need to be very attentive and careful when choosing a law firm, that it is very easy, due to ignorance of this area, to get hooked on scammers, I spent half the night on the Internet looking for someone to contact with my problem, I found a lot of shocking things , interesting and useful, I will share my experience and conclusions with you a little later.
As a result, then, as it seemed to me, I still found a good law firm “LFirm” (LFIRM LLC), which mostly had only positive reviews, and a couple of neutral ones, in the spirit of: “They couldn’t help me, but I didn’t I exclude that because of the specifics of my case,” somehow in a way that did not arouse suspicion.
Moreover, there was not a single review that they took an advance payment and disappeared, that they were fooling and scamming, that they were sucking out money, so I decided to contact them. Please note that on their website contact numbers and address were indicated: Moscow, Orlikov Lane, 2.
When I called this organization, in response to my question: “Hello, is this Lfirm?”, I was told that this is a legal assistance hotline, leave your number, they will call you back and clarify everything.
Okay, I left my number, and after a while a man actually called me back and said that he was ready to receive me with my question at the address near the Sukharevskaya metro station. Wait, I didn’t see on the LFirm website any addresses near the Sukharevskaya metro station, only the address Orlikov Lane, 2, which is near the Krasnye Vorota metro station, so I asked the man if he specifically represented the LFirm company, to which he answered me that he represents legal aid...:)
To which he was given an unequivocal answer that I would not go to Sukharevskaya, and that all this was very suspicious. Then I left a request on their website and indicated my phone number. The girl called me back and offered to come to them this time at Orlikov Lane, building 4. I was surprised: why house 4, if the website shows house number 2? The girl replied that she didn’t know anything about it, perhaps it was some kind of mistake, they were in house 4. Having clarified whether they were “LFirms”, the girl said that there were many different law firms on this phone, and one of them was more likely The only thing you are looking for is “LFirm”.
This all confused me very much, but there was nothing to do, I made an appointment, and again they gave me an SMS code. Then I was almost sure that this was another scam, but I still decided to go to the reception.
By the way, the site still exists: https://lfirm.ru/, but now the site states that they are the “City Information Legal Center”, the TIN and OGRN are indicated. I entered them on the Federal Tax Service website nalog.ru, and found out that their legal address is: Krasnovorotsky proezd, 3, building 1, floor 4, room 1, room 1. In general, any detective is just relaxing))
The next day I arrived in Orlikov Lane and first went to look for house 2 to find the mysterious law office “LFirm”, but I didn’t find them at this address, and I still had to go to house no. 4.
What is divorce?
The idea is generally short and clear: they will charge you an advance payment, and if you can’t get the money back, they will simply ignore you. Or they may immediately begin to ignore it, without even making any attempts to return your funds, depending on your luck. Having sifted through a bunch of sites and reviews, and contacting such companies, I came to the following conclusions.
If you make an advance payment, then the scenario can further develop in the following directions:
- They will write an application to the bank, and if no difficulties arise, then most likely the money will be returned to you (except for the prepayment, of course);
- They will write an application to the bank, the bank will refuse, and they will tell you that nothing more can be done, it’s not their fault, they did their job, and of course they won’t return the money to you;
- They will write an application to the bank, the bank will refuse, they will write something else somewhere (and I have not found any pattern on what this depends, perhaps on the zeal of a particular employee within one office), and if this will help, then the money will most likely be returned to you. Or they will not return if the diligent employee turned out to be not entirely competent or did not approach the solution of your problem with sufficient zeal, but he will have evidence that he did something for you, and, as they say, bribes from him are smooth;
- They won’t write anything anywhere, but they will assure you that they wrote, wait for an answer, they will contact you, call you, then they will stop answering your letters and calls;
Moreover, when, as a result of their “work,” you remain dissatisfied and try to somehow understand the situation, solve the problem, return the money, they may reproach you: “Oh, what are you like, we helped you from the bottom of our hearts, and you reproach us for fraud!
You will not be able to find this office and these people - their legal address (if there is one, of course) does not coincide with the actual one, the names are all fictitious, the telephone numbers are not landline, all correspondence and communication is conducted on the Internet, the contract is concluded there or by mail, but Even if you physically visit their office, it is not a fact that these people will be there when you demand your money back.
If you do not make an advance payment, then you will still be persuaded to make it under various pretexts: “This will speed up the solution to your problem”, “This will improve the quality of our service”, “This gives you an additional guarantee of the return of your funds”, “You will have priority before other return requests,” and so on and so forth. If you do make an advance payment, then the scenario will further develop in one of the above directions.
Moreover, when I called one of these offices, they didn’t even know that the MasterCard payment system has not been returning funds transferred to brokerage accounts since April 1, 2017! “Yes, yes, we’ll return everything, no problem!” - they assured. Or they knew, but did not consider it necessary to tell me about it. I would transfer an advance payment to them, they would write an application for a chargeback, it would be rejected, they would throw up their hands: “Well, what can you do, it didn’t work out, but we did our job.”
Cost of chargeback me services?
As it was written on the partners’ website, no advance payment is required. BUT the contract asks for an advance payment of 10 rubles. Wait!!! Firstly, they said no prepayment, Secondly, why 10 rubles. This is the same minimum amount.
You may be interested in: US Commodity Futures Trading Commission (CFTC) Warns Citizens of Cryptocurrency Scams
This is done in order to obtain your data, the data of your bank and your card. But why?????
Payment for services ]chargeback[/anchor] mi.
The cost of services is 40% of the refund. That's a lot.
