Why victims are failing to reclaim their lost funds? 5 most common reasons in this article

GlobalFTI

GlobalFTI Rep
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10
Courtesy of GlobalFTI Israel (not sponsored)

5 Reasons Victims Who Lost in Binary, Forex, or Crypto Trading Fail to See Any Success in Reclaiming
By Adam Goldman


Unfortunately, money recovery is not an easy project, by any means. Sometimes you think the perfect master-plan is already inside your thoughts, but “What if the plan fails?”.
Let me give you some free tips. As an expert in the cyber investigations field, with four years’ experience, I want to let you know that those mentioned actions below will cause you more damage than any benefit. So, here are the five reasons victims fail to see any success in reclaiming their funds after suffering a fraud or scam:

1). Not taking any action at all.
“Dreaming may only get you so far.”
The worst thing you can do is just sit there and do nothing. You’ve already heard that sometimes the loss from taking a wrong action is less than the loss from taking no action, right?
You can always look back and wonder how things could have ended up if you had just hung up the call in the first place. But this type of thinking won’t help you solve the problem. Facing the problem with the right knowledge, tools, and of course, attitude will put you in a better position on the way to reclaiming your stolen funds.

2). Operating or taking actions in the wrong country or continent.
Do you really believe that those crooks were calling you from Switzerland?
Fun fact, actually the crime level in Switzerland, which includes cyber crime, is very low, compared to most other countries, because of their strong regulations, law systems and firm policies.
You have to understand the fact that those people who defrauded you used an alias and gave you a fake address for one reason only. The reason is simple – THEY DON’T WANT YOU TO TRACK THEM DOWN. Shocking, right? Yea, the best way to hide is by giving out incorrect information and causing confusion among the victims. So, don’t bother engaging the Swiss or the Bulgarian police, because the crooks are not there.

3). Spending time on useless actions.
Going to the local police station and reporting the case will just make you look silly in front of those local policemen. We receive hundreds of phone calls from people who have already tried to contact the local police, the Action Fraud, Israeli embassy, FBI…you name it.
Let me save you some precious time and unnecessary embarrassment. No official governmental body will help you, as they don’t have any authority or power over those fake trading companies. If you still don’t understand why that’s so, just look at section 2 above.
Binary, unregulated Forex, and Crypto trading are well-planned fraud systems. Those crooks thought about everything beforehand, and they knew that eventually the victims would try to take actions against them. But by now you should already understand they did everything possible to hide their real identities and the country of operation.

4). Doing Chargebacks incorrectly.
Just as you don’t perform surgeries on yourself (unless you’re a licensed doctor), filing and launching chargebacks by yourself may be a huge mistake!
You have one shot to persuade your bank’s dispute team that the service you paid for was not delivered (or any other reason you choose). Don’t waste that one chance with a bad dispute. Let an expert write down and fill out whatever is needed.
Note, same goes for appealing to the financial ombudsman.

5). Suing the wrong guys.
You spent time, paid money and nothing. Taking on a good lawyer is maybe the most important thing, but without good intelligence, your case will be dismissed or worse – end up in the middle of nowhere.
As a victim, your number 1 priority is hiring an expert to track down the fraudsters behind the scam. No, a fake name and a virtual office address definitely won’t do the job. You need some real details like the identity of the company’s owner and his home address, the address of the call center in the country they’re operating from, and maybe even get a list with the real names of the employees. It’s not easy, but otherwise you are just wasting your opportunity to reclaim your money.

Now, a few important tips when considering a lawsuit:
· Suing your bank is useless, as they are not liable for your own decisions. Unless you have some anti-fraud insurance policy, suing your bank is a bad, bad idea.
· Suing the company that’s mentioned on the website or in the contract – the company who allegedly operates the website -- is just a straw company. Usually this straw company is located in offshore countries or basically countries where the authorities are shutting their eyes whenever financial crime, towards other countries, is happening inside their boarders.
· Suing the so-called “broker” will get you nowhere! Your broker is not who you think he is; actually, nothing about him is true. Usually the guy on the other side of the phone is not a financially educated expert, but a well-trained salesman, whose only job is to make your life miserable while milking the cash cow as much as possible.

Thank you for reading :)
 

Pharaoh

Colonel
Messages
19,902
3). Spending time on useless actions.
Going to the local police station and reporting the case will just make you look silly in front of those local policemen. We receive hundreds of phone calls from people who have already tried to contact the local police, the Action Fraud, Israeli embassy, FBI…you name it.
Let me save you some precious time and unnecessary embarrassment. No official governmental body will help you, as they don’t have any authority or power over those fake trading companies. If you still don’t understand why that’s so, just look at section 2 above.
Binary, unregulated Forex, and Crypto trading are well-planned fraud systems. Those crooks thought about everything beforehand, and they knew that eventually the victims would try to take actions against them. But by now you should already understand they did everything possible to hide their real identities and the country of operation.
Item 3 is one of the worst pieces of advice I've ever seen. The fact that this horrible idea is mixed in with promotions of Global FTI makes me question the motives and reliability of your company. This advice is 100% what scamers want people to believe. What kind of person or company would advise victims to just give up, so the scammers can keep scamming with impunity? After all, if every victim keeps silent, the chances if getting caught committing online financial fraud are practically zero.

In the real world, the US CFTC has gone after offshore brokers, including some based in the same country as Global FTI.

In the real world, the Hong Kong police have recovered large amounts of cash from unlicensed financial frauds.

Police and regulators are slow. They are slowed down even more by people who fall for "they never do anything" lies, since this makes it much harder for them to get the needed evidence.

If you are scammed, report it eConsumer.gov (which will share the information around the world if a law enforcement agency or regulator requests it). Report it to your country's financial regulators. Report it to your country's cyber police. Report it to the regulators of any and all countries tied to the scam. Report it to the regulators of any country the scammers asked you to send money to. Make certain to include all information about how you sent your money to the scammers.

Maybe nothing will happen. Maybe some small item you included in your report will turn out to be a critical piece needed to file charges and shut down the scam. At least you'll have tried to make life harder for the scammers.

Or, sit around and whine about how regulators and police do nothing. Then pat yourself on the back for helping the scammers keep scamming. When your friends, family, or coworkers fall for the same scam, make sure to keep being a "scammers little helper" and do all you can to discourage them from reporting the crime. If you and others like you do this enough, your evil prophesy will become self-fulfilling, since there won't even be enough evidence provided to the police and regulators.
 

GlobalFTI

GlobalFTI Rep
Messages
10
Item 3 is one of the worst pieces of advice I've ever seen. The fact that this horrible idea is mixed in with promotions of Global FTI makes me question the motives and reliability of your company. This advice is 100% what scamers want people to believe. What kind of person or company would advise victims to just give up, so the scammers can keep scamming with impunity? After all, if every victim keeps silent, the chances if getting caught committing online financial fraud are practically zero.

In the real world, the US CFTC has gone after offshore brokers, including some based in the same country as Global FTI.

In the real world, the Hong Kong police have recovered large amounts of cash from unlicensed financial frauds.

Police and regulators are slow. They are slowed down even more by people who fall for "they never do anything" lies, since this makes it much harder for them to get the needed evidence.

If you are scammed, report it eConsumer.gov (which will share the information around the world if a law enforcement agency or regulator requests it). Report it to your country's financial regulators. Report it to your country's cyber police. Report it to the regulators of any and all countries tied to the scam. Report it to the regulators of any country the scammers asked you to send money to. Make certain to include all information about how you sent your money to the scammers.

Maybe nothing will happen. Maybe some small item you included in your report will turn out to be a critical piece needed to file charges and shut down the scam. At least you'll have tried to make life harder for the scammers.

Or, sit around and whine about how regulators and police do nothing. Then pat yourself on the back for helping the scammers keep scamming. When your friends, family, or coworkers fall for the same scam, make sure to keep being a "scammers little helper" and do all you can to discourage them from reporting the crime. If you and others like you do this enough, your evil prophesy will become self-fulfilling, since there won't even be enough evidence provided to the police and regulators.
Thank you for sharing your thoughts on this matter.
I won't compare your experience with victims with mine. I was watching you and other members helping and advising people back in 2016 and yeah you always did your best in that matter. I understand your point and yes you are right, you should report the scammers and hope they will be locked out in jail but unfortunately it has nothing to do with money recovery.

We have made several police complaints in Israel using the Ashkenazi-Najjar law firm and got 0 feedback from the Lahav 443 unit.
At the same time I want to add that there was this one time our police compliant, submitted by Tzvika Feferberg, resulted in a huge raid on Inside/Secured options offices.
See the story in this artice:
Yes it help the lady in some way (can't disclose details) but it was a lucky shot!
Actually the victim came to us after a forum user, Tommy Su, had introduced us to her.

Although a miracle might happen, in practicality its a waste of time. Sorry!
As we all know the scammers are here in Israel and if the Israeli police ignoring the reports why should Action Fraud or the Policie České republiky do something about it? They can't really do something more then sending you home after laughing at your face. It not an assumption as sadly, it's what I have been told from the victims.

Unfortunately only US and HK had the opportunity to help their victims, can't say the same for other countries and regulations. The regulation in the US is really protecting its investors while the FBI is a powerful tool for enforcement.

Yeah I know its easy to hate in us, after all we are working with victims which makes some people think we are taking advantage of people in desperation (in reality it's not the case). We always had a tough time with FPA reps and I can understand why. But in this article I really wanted to give some value and not just advertise ourselves.

With all the best intentions, may this article help shape some good strategies and right state of mind.

Wishing you a lovely day.
Adam.
 
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