Other Common Scams

On the left is an alphabetical list of other common scams.

There are an almost endless number of them. If nothing else, scammers are ingenious in coming up with new ones. Binary options scams, forex scams, cryptocurrency scams, and medical malpractice are hardly the only ones out there.

One of the reasons why there are so many scams is that scammers know how to multitask. They can run a series of completely different scams at the same time. It’s not uncommon for one shell company to simultaneously operate several related ones, as if they’re competitors. Or different online scams. That way, they’re maximizing their chances of entrapping you.

Another reason why scams proliferate is that scammers are always looking for ways to stay one step ahead of the law. For example, when government regulators and law enforcement agencies in North America and Europe began to target binary options sites, they quickly needed to find a loophole. That became even more urgent when the European Securities and Markets Authority (ESMA) effectively prohibited binary options trading by individual EU investors. To get past the ban, virtually every binary options site that was then active in Europe re-branded itself overnight as an online forex brokerage.

At the time, there were reports that other veteran binary options scammers, especially in France, rushed head on into diamond investment scams.

How You Pay Is Also Part of the Scam

Another magnet for scammers is cryptocurrency. That’s because crypto’s relative anonymity provides scammers with a level of invisibility. That, in turn, it more difficult to identify them than ever. That being the case, virtually all forex scams – and many if not most of the other common scams listed on the list to your left – will gladly accept payment in cryptocurrency.

Another gimmick that scammers use to conceal their identities is to ask for payment in the form of gift cards. That’s because they can easily redeem them without leaving a trace. In the United States, tax impersonation scams frequently demand victims to pay with gift cards. The trick is now widespread. Should you ever receive a call from someone you don’t know who asks you to pay for any bill with gift cards, assume automatically that it’s a scam. At least until you can prove otherwise.   

Before scammers hid behind cryptocurrency and gift cards, their preferred form of payment was wire transfers. Generally, they’re still happy to receive wire payments today. The reason why is that once the bank clerk presses the “send” button, you cannot cancel the wire. At the speed of light, your money automatically appears in the scammer’s bank account. And the odds are that their bank is located half-way around the world. Especially in a jurisdiction with a weak banking regulatory infrastructure. In a bank that looked the other way as the scammers opened their account using false identities. Or using the name of a dummy corporation whose ultimate ownership you can never ascertain with absolute certainty. And using an office address that is a rented (and likely empty) room that they can abandon at a moment’s notice. Go find them.

Are You a Victim of Any of These Other Common Scams? If so, Did You Use a Credit or Debit Card? 

All of which brings us to everyone’s default payment platform: credit and debit cards. They’re the universal default payment solution because they’re ubiquitous, accessible 24/7 and easy to use. So the vast majority of common scams are certainly going to accept them. They have to in order to reach the largest possible audience. And they have to do that in order to make big bucks. Actually, that’s good news to you if you are a scam victim.

The reason is that unlike all the alternatives, you can reverse credit card and debit card payments upon presentation of proper documentation. Indeed, under certain specific circumstances, they must be reversed. The reversal is called a chargeback.

The Challenge of Filing for a Chargeback

However, when scam victims try to navigate the chargeback process on their own they find it’s bureaucratic, legalistic and tedious. Moreover, you only have one chance to make your case. If you make a mistake when you do so, your bank will reject your chargeback application on procedural grounds. And you will not be permitted to re-submit it. That’s the most important reason why you should first contact MyChargeBack for a free initial consultation and allow us to assist you. We have the knowledge and the expertise to get it right the first time.

Regardless of the payment method you used to transfer money to a scammer, however, MyChargeBack has a strategy to address your claims.