Common Scams

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

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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:

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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.

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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:

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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.