Fund Recovery and Tax Refund Scams
Once you have understood you may have been scammed, you will try to recover your funds, as you should. But, just like the companies of binary options and forex, a lot of them are NOT REAL COMPANIES!
They are not registered or licensed in the UK even if they say they are.
They will not assist you with your recovery, and all they will do is make another transaction from your bank account to the company.
Usually, they will call right after you realise you are having a problem with the company you have dealt with.
If the company has closed the website, and are not answering any of your calls or emails, they have probably stopped working. Either they have been busted or just got too many bad reviews and chargebacks, and had to change the name to get better relations with the banks, and to be able to target new clients with a new name.
Once you tell them that you know they are a scam, or said you will never put any more money in, they will just not answer your calls and emails. That’s when you will start getting calls from other companies for fund recovery/tax refund. They will either sell your information to other companies, or will have a Department that is making fund recovery calls. Either option will not help you.
So, if you haven’t entered your information to get a call back from a specific company, please keep in mind it might be that same company you have worked with.
These types of companies work under no regulations, they stay in the dark and usually pay cash to employees because they are not registered as a company. Therefore there is no order with the way they work and there is no protocol. At the beginning of binary and forex the agent had to have your approval to use your card. If not, you could have easily requested chargeback, because the bank will ask for the phone call record which a real company must have. The company will prefer to just give the money back and not hand over a tape, because that exposes what they do. But this has changed, and various countries have stopped ignoring these types of companies, even though they generated a lot for them in tax revenue. But once stories started circulating, and countries started receiving bad publicity, Governments forced the companies to stop working. Banks do not want to be associated with fraudulent companies. This is because they pay people to open new accounts every couple of months, and it can take the bank several months longer to realize what the company is up to.
Any fraud company that is working with bitcoin is doing so because that is their only option, and because they know that bitcoin is almost impossible to trace.
There are a few ways for them to do make a transaction, but here are the two main ones:
- They will say that you have to pay tax on the amount that you have lost, or whatever they think you are capable of giving them.
- They will get you on the computer telling you that your money is there and say they have to show you how to make the transaction. Once they are on the computer they will transfer every dime you have available through the bitcoin account, hang up the phone, and not take any more of your calls.
In both cases they will try their best to make the transaction through bitcoin. They usually have a few other options, but the first option will always be bitcoin, and unless you firmly disagree with that, they will make it through bitcoin.
The points you should pay attention to:
- They will tell you how much you have lost – a real fund recovery company has no access to this information. If that is the case it is most likely the company that has scammed you is trying to scam you again.
- Ask to share a screen with you on Anydesk or Teamviewer.
- If you haven’t entered any information to get a call back from this company – its not a real fund recovery company.
- Payment over bitcoin. No fund recovery company working under UK laws can take bitcoin as payment. Use a credit card or wire only!
- A foreign accent. If they say they are from the UK and they don’t sound English, they most likely are not from the UK and not working in the UK.
If you have given your information to a company that you have researched, and know they are registered in the UK, write down the company name and make sure the agent on the phone presents himself as an employee of the same company.
Fund recovery and tax refund companies these days are like the wild west. They have absolutely no limits, no supervision, and once they get on your computer and verify your bitcoin account, they will transfer every dime they can with no questions asked.
If you are still in touch with the company, we would advise you to not let them know that you have realized they are scamming you. They need to feel that it is business as usual. Do not make any more transactions and contact us as soon as you can. Time is of the essence because if they close the website like they often do, it will make it harder for us to find them.
If you find this familiar, and you believe you have been scammed, you can email email@example.com your story, and we will check all the information so we can guide you through getting your money back.