Australians - use the Financial Ombudsman Service to hold your bank accountable

I just received a response from FOS from my bank. They know about BDB but will not admitt to knowing about Option.FM. Does anybody else have the same issue? Anything I can do about this?

The bank also said they have blocked all binary accounts from Mar17 so anyone from Aus. that got scam after this date should have a good chance of recovery!
 
I just received a response from FOS from my bank. They know about BDB but will not admitt to knowing about Option.FM. Does anybody else have the same issue? Anything I can do about this?

The bank also said they have blocked all binary accounts from Mar17 so anyone from Aus. that got scam after this date should have a good chance of recovery!
Hi Burnt -the banks play their clients as fools -you have to show them that you know what you are talking about-they just hope you'll fade away!
Go thru the links -copy what u need -Look Closely-there's no escaping-There's a transatlantic agreement in place between NZ and Australia. NZ regulators notified ASIC in aussie 19Jan 2016. However Bank de Binary which is really OFM in drag(disguise) was on ASIC's books 2015 I believe. Google more info if you need it--- By the way-most of the Binary Options scammers work out of Israel. Last week all members of their parliament(Knesset)--- voted for an outright ban on binary options, proving just how evil the scammers are. Good luck-Tolly;);););););)
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Thanks for the links Tolly.

Just waiting for my preliminary result from FOS and I will fire more bullets after if needed.

Saw articles of binary option owners getting caught or under investigation. I'm waiting for the day Oren Shabat Laurent will go behind bars.

P.s Would like to get in touch with any aussies who used westpac or stgeorge bank.
 
I would love to see Oren Shabat Laurent arrested. Along with his slimy staff.

Please update us with any news. FOS give the banks 28 days to respond, with extensions of time when requested by the banks. Which happens often because they hope the victim will run out of energy to continue the draining emotional fight!!

Each time there is documents exchanged, it can be a 28 day wait. It can take over 6 months to go through the process.

DO NOT GIVE UP!!
 
I would love to see Oren Shabat Laurent arrested. Along with his slimy staff.

Please update us with any news. FOS give the banks 28 days to respond, with extensions of time when requested by the banks. Which happens often because they hope the victim will run out of energy to continue the draining emotional fight!!

Each time there is documents exchanged, it can be a 28 day wait. It can take over 6 months to go through the process.

DO NOT GIVE UP!!
Yep-True to your word Aussie scammed-just had second mail from FOS saying that I'm in their lonnnnnnnnnnng-long queue. Still I'm bout 60/40% confident of a win because of your great outcome-
by the way, that's about 60% more than when I started. I'm also glad to say that Laurents name- is at last starting to appear in the the courts. There are claims against him from all corners of the world. My other attack from another group is not far off also. For a while we thought because of his high profile he might try to abscond. The totals scammed thru BdB/OFM are staggering. The grief he has caused is immense.
Tolly
 
These words are a MUST:

"The bank has failed to protect me as a customer. The bank has not performed their due diligence and care by allowing transactions from my account to go through to a known scam. The bank was notified by ASIC in (insert month and year) yet the bank failed to notify me of this information."

FOS have precedent rulings to follow.

NEVER GIVE UP!
 
Great info!
Great name-ZorroBloke-way betta than ZorroBroke- thanks for acknowledging the work that goes into the threads. Many of the new members just don't realise how powerful this info is. But-when you start giving it back to the banks and FOS and the works-they sit up and take notice. Zorro was a fighter, do the work, learn, empower yourself and go for it!!!!! Good work ethic.
Take care Tolly;););););););)
 
Yep-True to your word Aussie scammed-just had second mail from FOS saying that I'm in their lonnnnnnnnnnng-long queue. Still I'm bout 60/40% confident of a win because of your great outcome-
by the way, that's about 60% more than when I started. I'm also glad to say that Laurents name- is at last starting to appear in the the courts. There are claims against him from all corners of the world. My other attack from another group is not far off also. For a while we thought because of his high profile he might try to abscond. The totals scammed thru BdB/OFM are staggering. The grief he has caused is immense.
Tolly
Hi Guys-Just had long awaited response from FOS-certainly not the news I was hoping for, however I still have one more shot at this and I find that with more time, new amo becomes available.
I have 30 days now to challenge Nab's and hence FOS's rejection of my claim to reimburse all of my money.
Nab are particularly difficult to work with and I find that BdB has a longer history than OFM, even tho in reality they are the same SCAMMERS (Some BdB clients have had wins)-not so OFM!!!

Below I have pasted their reply

1.2 Issues and key findings

Did the FSP breach an obligation to the applicant?
The FSP did not have an obligation to stop the applicant from trading with the merchant. This is because:
 The FSP was not on notice that the merchant was engaged in fraud and operating a scam at the time the transactions were made.
 The presence of a company on the Australian Securities and Investments Commission’s (ASIC) list of unlicensed companies does not establish that the FSP was, or should have been, on notice that the merchant was fraudulent.
 Financial services providers do not have an obligation to continually monitor information on ASIC’s website or customer accounts for potentially fraudulent transactions.
 The FSP carried out its chargeback obligations correctly.

I have a lot v homework to do now, but I haven't given up yet. Will keep you posted-
Tolly
 
Hi All,

Im sad to announce FOS aus spoke to me today and went totally against my favour.

They said the bank was not aware of option.fm and did not receive warning from ASIC eventhough they knew about BDB. They told me if i can prove that westpac knew about option.fm knew then i might have a chance.
They also said mastercard did not flagged this company in their monitering program for huge number of chargeback lodge??

Also they mentioned all the cases with option.fm had the same result. Not sure if that's true? Has anyone won the case with Option.fm? If so pls let me know as this will greatly support my case.

I will challenge them as to why the bank wouldn't be aware as im sure there had been huge number of complaints lodged in the past and will also question them why a warning was given to FMA NZ from ASIC but not to the banks in Aus?

Anybody face the same thing and have more suggestions?

Very similar to your situation Tolly..but they won't even offer a penny...im absolutely gutted..any further success for you?
 
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