Hi Gang-following on from Aussie Scammed excellent work-I will paste in a section of my ferocious reply to My Bank(Nab) after they knocked back my FOS claim- It's a bit long -sorry-got all fired up!!!!
I stand to be corrected re the date ASIC added OFM to their hit list. My bank is now using this as a reason to knock back my FOS claim,saying
OFM was added after my scam.
They also blame me for
allowing the transactions to take place!
Please feel free to cut and paste any sections applicable to your scam.
Where the transactions authorized?
Whilst it is true I allowed the deposits to take place,
I was tricked and coerced into doing so. There is ample evidence available on how it was done- These so called brokers are professionally trained. They are the best of the best and it is in their interest to do so. Please read the insert below.
I dare say that many of your own staff would be easy prey for these predators! Furthermore, I reiterate that they said their offices were in England (false). Everything about them is false. They were specifically trained to steal from decent hard working people at an Israeli call center. They were not trained at all to make money for their clients!
This was one v the reasons for a Charge Back attempt(not providing promised service)
Below is a quote from the link below
#1, to reinforce these points-
http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/
# 1“:For instance, every salesperson was asked to invent a fake name and biography. The call center used Voice over Internet Protocol (VoIP) technology, which displayed a local phone number to customers anywhere in the world. The company’s website listed an address in Cyprus.
“I was told to tell people I had years of experience in the market, that I had studied at Oxford and worked for the Bank of Scotland.”
Guralnek says he was told to present himself as a broker who made a commission on the trades and to emphasize how much money the customer could make while downplaying the risk. In fact, rather than helping customers to make smart trades, the “broker’s” true interest was for them to make unsuccessful predictions and lose their money.
Guralnek says he was also increasingly disquieted by what happened when the clients tried to quit. That’s when they would be asked for a lot of paperwork.
“We would say, ‘You want to withdraw? OK. We need to verify your identity before we can release the funds. You need to send us a photocopy of your utility bill, your driver’s license, your passport, your credit card’” — requirements, needless to say, that had not been mentioned when the client put money in.
While the customer was gathering and submitting this paperwork, a “retention” agent would call them and go through their trades, purportedly figuring out what went wrong and convincing them to continue trading. “We could delay that withdrawal for a long time.”
If a customer was persistent, says Guralnek, very often the company would stop taking their calls, or send them an email saying ‘we suspect you of fraud’ and freeze all their funds. Because the customer didn’t know the real name or location of their salesperson, “they had nowhere to turn to get their money back,” explains Guralnek.
I find one of the most disturbing aspect of this whole ordeal is- that Australian Banks pretend they didn’t have a clue on how the scams were taking place. I find it intolerable that after the first few chargebacks or complaints that they couldn’t see a pattern emerging. I have spoken to many clients in Australia and we all saw the same pattern.
I don’t think I could have been clearer in my chargeback situation, and yet the investment amount was returned to OFM. Again I believe that Nab did see these patterns, but deny it.
Did the bank take any measures in preventing the transactions taking place?
The Banks- complacency then and now is no match for these professional scammers whom work 3 shifts 24/7. It took 3 phone calls to the bank to make any sense of how to make a chargeback. Eventually I found a FAQ sheet on line that had the answers. Surely a well trained staff would have known to mention that to me!
The fraud squad stood no chance in making a persuasive argument against these professional scammers, because the scammers had a well-rehearsed argument for every situation!
You must realize also that I was primed to let the deposits take place, because the fraudsters know how to entice clients with a few winning trades.
This has also been well documented in the above article!
Not one Bank representative presented a well thought out or convincing argument that I should not be dealing with OFM.
A) No mention of identity theft
B) No mention of the risks of Binary Options
C) No mention of how many clients from the Bank had been scammed-or of how much!
D) No mention at all about ASIC or who they were!
E) No mention of the perils of Binary Options trading on the Bank’s website
F) No adverse advertising visible in any of their branches re Binary Options.
In your letter you fail to mention a lot of the evidence supplied by the Lawyers of OFM has BdB tags on bottom, a clear sign that they are one and the same.
You say that ASIC added OFM to its list of scammers in Jan 2017. I know that BdB was in fact mentioned back in May 2015. Complaints about them had been circulating since May 2014.
What information has been supplied by the merchant? What was the outcome?
I would like to point out the obvious. If OFM’s address is not valid, their employees are fictitious, and their whole business is a lie- THEN- HOW CAN ANY MERCHANT STATEMENTS BE VALID?????
I would also ask this question of you? BdB/OFM has ceased its operations-please tell me why?
I have totally rejected the Bank’s conclusion and have decided to push on with FOS regardless.
To prove my point, I would now request through the
FOI Act- answers to the following questions.(Freedom Of Information Act)
a) How many Aussie Bank clients were scammed by the Binary Options people? 100-1,000 or 10,000
b) What was the staggering amount of their losses? $10,000,000 0r $100,000,000
I am sure these answers will be very revealing for me and all your clients-thank you!-or will it take a tragic suicide incident like the one in Canada- to shake the banks into action?
Tolly