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Common Scams

Should I Hire A Chargeback Company? (Rebound Scams)

Chargeback / Refund / Recovery Companies

One of the most common questions we get during a Fraud Case is "Should I hire a Chargeback Company?"

First, we know the pain, anguish, confusion and defeat you are feeling. We know you want to see results and to see them quickly. What we want you to know is this:

Chargeback / Refund / Recovery Companies "cannot" help you.

 

Though there are legitimate companies operating in this space, we want to point out that there is a difference between local chargeback advisory services (which will guide you through the process of initiating a chargeback with your credit service) and fraudulent companies that require an upfront fee before they assist you.

Rebound scams, particularly related to chargeback companies, target victims who have already been scammed, often in the cryptocurrency space. These scams operate under the guise of offering services to recover lost funds from previous scams, including those related to investments, online purchases, or cryptocurrency transactions. Here's how they typically work:

Initial Contact:

The scammer reaches out to the victim or creates an advertisement claiming the ability to recover funds lost in scams through chargebacks or legal action.

Service Fees:

Victims are asked to pay upfront fees for the recovery service, which can include legal fees, administrative fees, or other charges, often under the promise that these fees are necessary to initiate the recovery process.

False Promises:

The company may offer guarantees of fund recovery, using technical or legal jargon to appear credible and persuade victims that recovery is highly likely or certain.

Additional Charges:

As the process continues, victims may be asked for more money to cover additional unexpected costs, further investments, or taxes supposedly required to release the recovered funds.

Lack of Recovery:

Ultimately, the promised funds are not recovered, and the victim is left with additional financial losses on top of their original loss.

 

Red Flags and Prevention Tips:

Upfront Fees: Legitimate services rarely require significant fees to be paid before services are rendered.
Unsolicited Offers: Be wary of unsolicited offers of help, especially if they require personal or financial information.
Research: Conduct thorough research on the company, including reviews and regulatory status.
No Guarantees: Be skeptical of any company that guarantees the recovery of lost funds.
Professional Advice: Consider seeking advice from a financial advisor or lawyer before engaging with a recovery service.

 

Victims of scams, including rebound scams, are advised to report their experiences to relevant authorities, such as financial regulatory bodies or consumer protection agencies, to help prevent further victimization.

What Are Sextortion Scams?

Sextortion Scams

Sextortion scams involve a perpetrator threatening to release explicit photos or videos of a victim unless the victim pays a ransom, often demanded in cryptocurrency due to its anonymity. These scams can start from online interactions, including social media, dating apps, or even hacked personal files. Here’s a summary of how they typically unfold:

  1. Initial Contact: The scammer establishes contact with the victim through social media, dating sites, email, or another digital medium.

  2. Exchange of Explicit Material: The scammer either tricks the victim into sending explicit images or videos, hacks their device to obtain such material, or creates fake images or videos using deepfake technology.

  3. Threat: Once the scammer has explicit material, they threaten to release it to the victim’s family, friends, or the public unless a ransom is paid. The demand is usually for payment in cryptocurrency.

  4. Payment Demand: The scammer insists on quick payment, often setting a short deadline to pressure the victim into paying. They may ask for payment in Bitcoin or another cryptocurrency to avoid being traced.

 

Prevention and Response Tips:

Be Cautious Online: Be wary of sharing personal information or explicit material with anyone online, especially with someone you haven't met in person.
Enhance Security: Use strong, unique passwords for online accounts and enable two-factor authentication to reduce the risk of being hacked.
Ignore the Scammer: If targeted, do not communicate with the scammer. Responding may encourage them to continue their threats.
Do Not Pay: Paying the ransom does not guarantee that the scammer will delete the material, and it may lead to further demands.
Report: Report the incident to local law enforcement and, if applicable, the platform where the contact was initiated. There are also online resources and support groups for sextortion victims.
Seek Support: Consider reaching out to a support organization that can provide advice and emotional support during this stressful time.


It’s important to remember that victims of sextortion are not alone and that help is available. Reporting the crime can be a critical step in stopping the perpetrator from targeting others.

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