Action Refund reviews – how to recover money you have lost

Your money isn’t lost. See what kinds of financial fraud cases companies like Action Refund can help you with, and find links to Action Refund reviews. 

If you’ve heard of chargebacks, it might be because you’ve thought about disputing a charge on your credit card. Maybe a package arrived damaged, or a seller claimed it had been “delivered” but you never received it. Chargebacks, it turns out, can also be used in other more complex situations.

If you’ve ever been won over by pitches that seem incredible, and gotten burned in the process, did you know that chargebacks may be able to help you? They could be a powerful tool in fighting cases of financial fraud; in more complicated cases, you could benefit from hiring a chargeback company to advise you.

Action Refund is one such company, with several online reviews describing their services and the results that customers have had. They have a particular focus on financial fraud, and below we’ll look at some of the kinds of fraud they’ve been hired to handle. We’ll also provide some links to Action Refund reviews so that you can see them for yourself.  

How to recover money lost to a financial fraud

If you’re trying to start a business, you may have seen some investment “opportunities” that seem too good to be true. Financial fraud is a constant problem that regulators are working hard to tamp down, but as new schemes pop up, it can be hard for the authorities to keep abreast of all of them. This is one of the reasons why a company that specializes in asset recovery, such as Action Refund, may be able to help. You can click here if you’re interested in reading a review.

So, what kinds of financial fraud can companies like Action Refund help with? Here’s a list of several, with an explanation of what each kind of fraud consists of, and tips for how to spot it.

Binary options

A binary option is an option contract where your payout depends on the state of a yes or no proposition when the option expires—usually, whether a given asset will reach a given price. If it does, you get a payout. If it doesn’t, you get nothing and the seller keeps your money. While this might sound fair enough, it’s easy for someone to mislead you about your return on investment.

The example that the Securities and Exchange Commision (SEC) uses in their investor outreach is this: imagine that you buy a $50 binary option which claims to have a 50% return. The option is based on whether one share of company XYZ will cost more than $5 when the option expires.

If that has a 50/50 chance of happening, your return on investment is actually lower than 50%, because the 50% chance of losing all your money outweighs the chance of gaining roughly half back.

Binary options can also be traded on unregistered online exchanges, and people offering them can engage in other outright fraudulent tactics, like:

  • Refusing to credit customers or reimburse funds
  • Identity theft
  • Manipulating software to generate “losses” (i.e. extending a “winning” option until it “loses”)

CFD and forex fraud

“Contract for difference” (CFD) and “foreign exchange” (Forex) trading are both legitimate investing techniques, but they’re complicated. That complexity, and their legitimate use by big institutions, makes them attractive to fraudsters seeking to entice investors with unrealistic promises.

A CFD is an agreement between two parties to pay the difference between the opening and closing price of some asset. The benefit for the investor is that they don’t need to own the actual asset in question; they can simply make a ‘bet’ on whether it will go up or down in price without acquiring it.

Forex, as currency trading is commonly referred to, can be done through CFDs. The forex market is the world’s largest, with trillions of dollars passing through it in the course of a week. The high liquidity – money is always moving in and out at high volumes – and its 24-hour operation both mean that there are lots of opportunities to trade. Similar to the case above, fraudsters will target would-be investors with ‘investments’ based on how two currencies will compare at a future time, without the investor having to purchase either of the currencies.

For individual investors, it’s hard to make money in the long term here. That’s why some experts call these “bets” rather than investments.

Cryptocurrency fraud

While cryptocurrency itself is no scam, since it’s a new technology without a lot of regulation, it is a ripe target for scammers. Some scams have even helped to show the system’s vulnerabilities as it continues to improve and evolve. When Bitcoin and other currencies are highly valued, there are more of them. When their prices get lower and trading decreases, so does the scamming activity.

Some of the most common scams in recent years, according to Joe Liebkind writing in Investopedia in September of 2020, include:

  • Hacking exchanges and wallets—It makes sense that scammers would turn their focus to the places holding the currency itself, both individual “wallets” where personal accounts are held, and larger exchanges that manage those accounts and allow cryptocurrency to change hands.
  • Social media scams—Think of the Twitter hack in July of 2020 when accounts owned by Warren Buffet and Apple alike posted messages soliciting Bitcoin from their followers.
  • Social engineering scams—This refers to scams such as “phishing”, where someone tries to get your personal information by sending an email linking to a fraudulent website. Blackmail emails also fall under this category.
  • ICO scams—While these “initial coin offering” (ICO) scams have become less popular than at their height in 2017 and 2018 when the SEC got involved, they’re still happening.
  • DeFi “rug pulls”—Decentralized Finance (DeFi) is an effort to remove the institutional gatekeepers from financial transactions. Using DeFi platforms, fraudsters have conned investors looking for a quick return by taking Bitcoin in exchange for a new asset that turns out to be worthless, “pulling the rug” out from under them.

Action Refund reviews

If you’ve lost money in a financial fraud like those listed above, it could be worth considering whether a company like Action Refund can help. If you are interested, make sure to look at their reviews for an indication of customer satisfaction.

Trustpilot, for example, shows that Action Refund has over 240 reviews at the time of writing while maintaining a 4.5-star rating overall. As always, when making any financial decision, be sure to consult a CPA or other financial advisor. Good financial advice is always critical, whether you’re looking to save or start a business.