Newsletter - August 2021

What's New at MyChargeBack?

New on Our Website

Our Case Studies Keep Growing!

A major financial industry news site and a leading business magazine that focuses on technology both asked MyChargeBack Vice President of Global Operations Michael B. Cohen, to contribute articles on the subject of anti-money laundering (AML) regulations, the warning issued by the British regulator, the Financial Conduct Authority (FCA), with regard to Binance and calls to fully regulate cryptocurrency. The first, The Application of AML Regulation Will Be Good for Crypto Exchanges, appeared in Digital Transactions and the second, Crypto’s run without government oversight is coming to an end, was published by Fast Company. If your dispute involves cryptocurrency, be sure to read these articles.

We were also pleasantly surprised to see this unsolicited recommendation this month on an online South African investigative news site: 

If you find yourself falling into the hands of scammers, one solution may be, a global leader in fund recovery services. Working with over 750 banks worldwide, the company has retrieved millions of dollars for clients in more than 150 countries and opened an office in South Africa last year owing to “… the steady rise in the number of inquiries we receive from consumers there, who have been unable to obtain refunds from merchants, from whom they purchased goods and services that were not provided as agreed,” according to Michael Cohen, MyChargeBack’s Vice President of Operations.  

Register for Our Upcoming MyChargeBack Webinar on Consumer Anxiety

No matter the details of their dispute, no matter where they live, virtually everyone who contacts us at MyChargeBack has one thing in common: Anxiety. They suspect a merchant, brokerage or individual they dealt with was dishonest. They feel used. Cheated. Even helpless. 

For that reason MyChargeBack will be holding a Zoom webinar on Tuesday, August 31 to provide an opportunity to learn how to manage that anxiety and overcome it. Our guest will be Dr. Mara Kailin, a licensed American clinical psychologist and expert in dialectical behavioral therapy, a cognitive-behavioral therapy whose main goals are to teach how to live in the moment, develop healthy ways to cope with stress, regulate emotions, and improve relationships with others.

Registration for the webinar is now closed, but a recording will be posted next month on our Webinar page. 

Case Studies

The first of the two case studies we posted this month explains how a legal demand letter issued by MyChargeBack convinced a bank to approve a wire recall for an elderly South African client. And then, once the merchant learned what the bank had done and assuming it could then be subject to legal action, it refunded money to our client as well. 

The second case study comes from Canada. Our client has been told by two banks that his nine payments to an unregulated brokerage using three credit cards were considered investments and, therefore, he was ineligible for chargebacks. MyChargeBack, however, was able to prove to the bank that they did not meet the definition of investments and, as a result, the chargebacks were ultimately approved.