The non-return of funds used through a broker to conduct exchange financial transactions in an online format has become a real problem that has affected many traders and investors to one degree or another. There are many preventive measures in order not to get into the networks set up by scammers. But, if the debt is nevertheless formed, and the broker refuses to return the money, there are two ways to solve the problem.
Rolling Reserve
A kind of intrabank insurance called Rolling reserve, which provides for the deduction by the bank of a certain percentage from each transaction of receipt of money to the working account of the client (broker). In this case, claims for fraudulent actions (retention by the broker of funds) are considered by banks with greater loyalty to the victims. They don't have to when satisfying her:
- Give away your own money.
- Recourse to claim funds from other financial institutions to which the fraudster has already withdrawn them.
Thus, you can get the stolen money even after a year from the reserves of banks located in offshore zones. This method of return is considered legal and generally accepted in international practice. The application of the established form for the launch of the procedure is submitted through the trusted lawyer of the deceived user. The duration of the process depends on the geography (the country of sending money and the legal address of the bank). The chances of satisfying the claim are quite high.
Chargeback procedure
The procedure for contesting a bank transfer and returning money to the buyer in case of bad faith of the seller (brokerage company) is called chargeback. It is increasingly being used by deceived traders and investors, but it has a lot of limitations. Such a refund or fraud chargeback is only possible if:
- Transfers were made using MasterCard and Visa credit cards.
- The deadline for submitting a claim has been met.
- An impressive package of documents confirming the transfers and their amount has been collected.
- Copies of contracts with the broker and declarations of termination of their actions have been provided.
The application is drawn up in the prescribed manner and sent for consideration to the bank. Only a lawyer specializing in this field can observe all the bureaucratic subtleties and peculiarities.
It should be borne in mind that the entire bureaucratic procedure takes a lot of time and requires current hospitality expenses. The percentage of satisfied applications of deceived traders and investors under the chargeback scheme is quite low.
