Case Studies

A Legal Demand Letter Clinches a Bank Wire Recall

Case Study: A Legal Demand Letter Clinches a Bank Wire Recall

This case involved the following MyChargeBack services: legal demand letters, preparation of two police complaints and follow-through with the authorities. 

The Basis for the Dispute

This case illustrates a successful recovery through the uniquely complex and challenging wire recall process.

M.F. is an Italian national residing in the United Arab Emirates (UAE). He became entangled with an unregulated online investment firm. By the time he realized he might have become a victim of a scheme, he had already wired more than $8,000 from his bank account to the merchant. After determining he needed assistance with recovering the money, he contacted MyChargeBack.

After examining the details of the case, we determined that M.F. was a suitable candidate for our Bank Wire Transfer Recall program. We explained the process to him and he quickly enlisted our help. We determined that the beneficiary bank located in Singapore, as well as the beneficiary account in the United Kingdom, both failed to perform adequate due diligence in permitting and receiving the transfers of funds.

Consequently, we had an attorney draft legal demand letters to both the bank and the beneficiary. The letters explained our client’s case and demanded an immediate reversal of all transactions, or the two faced the possibility of further legal or regulatory action. At the same time, we provided M.F. with police complaints for him to file, both in Singapore and the UK, which served as further leverage against the beneficiaries.

The MyChargeBack Difference

Even with a strong case and under ideal conditions, it is normal for the process described above to take months — and require multiple follow-ups with the relevant institutions — before a final resolution is reached. It came as a pleasant surprise, therefore, that our client received a response from his bank just a few days after it received our legal demand letter. His bank informed him that the beneficiary bank had approved the reversal of the first (smaller) transaction. And just a few days later, the second, larger transaction was recalled as well, resulting in an almost complete recovery of his lost funds.

At a Glance: MyChargeBack in the UAE

  • The case involved a loss of $8,000 from two bank wire transfers to an online investment scam
  • MyChargeBack created the required paperwork and drafted the professional demand letters, police reports, etc.
  • The beneficiary bank approved the bank wire recalls, resulting in the recovery of all the lost funds

Payment made by the bank

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