1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

Discussion in 'Forex Articles' started by Aussie Scammed, Mar 4, 2017.

  1. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
    Please read and follow instructions to submit a complaint to the FOS in Australia against your bank/credit card provider – your Financial Service Provider (FSP).

    Currently the FOS has precedent cases that form a recommendation in your favour of 75% return of funds. It is a process of approximately 6 months. START NOW!

    Australian Securities and Investment Commission (ASIC) alerted Australian FSPs in April 2015 that Banc De Binary was a scam. Therefore, any transactions after April 2015 your FSP has failed to protect you.

    Have you –

    Complained to SCAMwatch, ACORN, econsumer.gov?

    Attempted chargebacks through your FSP and failed?

    Complain directly to your FSP about their inability to provide financial services with due diligence and care by allowing transactions with a known international scam. Call them now and get a reference number for your complaint.

    Go to www.fos.org.au and submit a dispute online against your FSP.

    The online form will ask:

    Your complaint is with: “Your Australian bank (FSP)”

    “I have complained to the service provider.”

    You complained on: Date you complained to the bank

    Details of your complaint – “I complained to my bank that I had been scammed by an international investment company. The bank had already been alerted by ASIC in April 2015 that the company I was dealing with was a scam.”

    “I have not received a final written reply to my complaint.”

    “The service provider has not started legal proceedings against me in a court.”

    My complaint relates to: “Credit, Consumer Credit, Credit card.”

    Main complaint: “Other complaint”

    Service provider reference: “Account number – supply credit card account no. here.”

    Complaint summary:

    “My bank – (insert bank name and complaint no.) have informed me that the Bank had knowledge of Banc De Binary being an international Binary Options scam. The bank has failed in their duty of care to their customers by allowing transactions to go through. All transactions to Banc De Binary have been in dispute since (start date of your disputes) mid March 2016 when the US regulatory authorities fined Banc De Binary for trading off exchange.”

    “I am seeking compensation.”

    “Insert amount lost here”

    What I think is a fair and reasonable outcome: “That I receive all my money back as the bank has failed in their duty of care to their customers because they knew about Banc De Binary and the international scam.”

    “I am lodging this dispute for myself.”

    My contact details: “Insert your details”

    Authority to FOS: This part will be filled in for you, read it and acknowledge.

    How I heard about FOS: “Already knew about FOS”

    SUBMIT the form and make sure to save and print a copy for yourself.

    You will receive an email from donotreplydispute@fos.org.au with a case number, instructions on what happens next, the timeframe for your FSP to respond which is based on the information you provided to the FOS about what has happened previously, including when you complained and whether you’ve received a final response to your complaint in writing.

    (In my case it was 2 weeks, however, my bank requested more time to respond and took 6 weeks.)

    The FOS will email you after the timeframe has expired if you have not managed to negotiate with your bank a resolution. Your FSP may ring you and offer 50% of disputed funds. Keep in mind that the standard recommendation is 75% returned.

    The FOS will outline their understanding of the dispute, the issues the Case Manager will investigate, and request more documentation, for example, in my case the FOS requested documentation and answers to the following:

    “Bank statements with highlighted transactions

    Why did you decide to trade with Banc De Binary? How did you get in contact with them?

    Copy of letters, correspondence and emails you sent to or received from your bank of Banc De Binary regarding the disputed transactions

    A timeline and the details of all the telephone conversations you have had with your bank or Banc De Binary regarding the disputed transactions. Include as much information as you can about each call. If you made any file notes or records of the phone calls then please provide copies.

    Do you still have access to you Banc De Binary account? If so please provide an account statement/transaction list showing all transactions and trading/investment activity on your account.

    When and how did you first realise that Banc De Binary was a possible scam?

    Details of any withdrawals from your self managed superfund.

    Any further information or documents you wish FOS to consider in this dispute.”

    GET PREPARED NOW:

    Get your timeline organised.

    Make sure you have bank statements ready.

    Document what happened and when.

    Make sure to reply in the allocated time frame.

    GET READY FOR THE LAWYERS TO REPLY TO THE FOS ON BEHALF OF THE FSP.

    The FSP will attempt to scare you out of continuing with your claim. Do not be frightened. Respond to the evidence supplied by the FSP. Not every point needs a response. Go through the document, in my case 11 pages of rubbish and respond to points that are incorrect or unjust, using the point number as reference.

    The FOS will issue a “Recommendation”, stating that ASIC contacted Australian FSPs and directed all FSPs to undertake internal searches to identify any clients that may have transferred funds into the listed bank accounts and contact those clients directly, to bring to their attention the issues raised and notify clients that ASIC considers Banc De Binary Ltd and BDB Services Ltd to be part of an international scam and that no further funds should be forwarded to the account.

    The FSP will drag this process out for as long as possible, hoping you will “just let it go”. This is the same attitude that the original scammers have. They hope you will just go away and move on with your life.

    FIGHT BACK, ALONE WE ARE JUST ANOTHER UNHAPPY CUSTOMER, TOGETHER WE ARE AN ARMY.

    Please share this information with any Australians who have been scammed by an overseas Binary Options company.
     
    4evermaat, FxMaster, IrwanI and 3 others like this.
  2. tolly

    tolly Sergeant

    Joined:
    Apr 24, 2016
    Messages:
    143
    Likes Received:
    60
    Hey Aussie Scammed -thank's for taking up my offer v showing other members what to do re FOS-tis xcellent-Hey-and thanks for your concern re health!

    I went to heart specialist before xmas and the stress test nearly killed me!- ran on the treadmill for nearly 3 minutes-got the all clear. Just got some blood thinners. Went back month later for review and got my own back on the specialist.
    I said doctor "I've brought u a bottle of virgin olive oil" -he said" what for"- I said "it's to oil your bloody treadmill and make it go eazier" I thought the old boy would die laughing!-He's since retired with a smile on his face!

    Thanks so much Liz-Will do FOS tomorrow- amongst other things-keep in touch-
    Hey- tis better to laugh than cry -most v the time -and when we win against those vultures- I won't be shedding a tear for them, thats for sure!!!!!!!
    take care-
    Tolly
     
    Aussie Scammed likes this.
  3. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
    No problem Tolly, the stress is a silent killer.
    HAHA virgin olive oil HAHAHAHA

    No tears for scumbag scoundrels. They will suffer for their crimes against hard-working people. The net is closing in on them.
     
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,228
    So if I understand this correctly, if your Australian bank assists in transferring money to international criminals (like Banc de Binary), the Aussie FOS will actually let you file a complaint against the bank for failing to notice that it's actively assisting scammers in robbing you???

    If so, this ROCKS!!! (and also provides something some UK victims may want to try with their own FOS)
     
    AnneW and Aussie Scammed like this.
  5. tolly

    tolly Sergeant

    Joined:
    Apr 24, 2016
    Messages:
    143
    Likes Received:
    60
    Hi Pharoah-I'm just looking at the FOS paperwork now and notice that ASIC put out a scam warning re BdB April 2015-
    Correct me if I'm wrong but this is the basis to which u can complain- re bank not giving u sufficient warning about a scam possibility. OFM was not mentioned so how can we apply FOS on the same grounds. I know that many authorities are scrambling to find the direct link between the two-but I think at this mo it's still in linbo- Your advice would be greatly appreciated-
    Ta Tolly-and a battalion v others and hanger-on-ers?????
     
  6. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
  7. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
    tolly likes this.
  8. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
  9. tolly

    tolly Sergeant

    Joined:
    Apr 24, 2016
    Messages:
    143
    Likes Received:
    60
    Hey Aussie Scammed-really -really good work ,no really! FPA members just click on the alphabet using the first letter v the scammers -O for OFM : B for BdB-It's all there ASIC April 2015- hey look -I reckon I beat Pharoah to the draw this time and I'll give you a purple letter for ur xcellent work-
    Ta Tolly:D:D:D:D
     
    Aussie Scammed likes this.
  10. Aussie Scammed

    Aussie Scammed Corporal

    Joined:
    Apr 8, 2016
    Messages:
    89
    Likes Received:
    51
    Thanks mate :)
    Spread the word!
     
    ZorroBloke likes this.

Share This Page