Global Refund Group Review
We know many reading this have already lost some money trading online. Whether you lost your funds to forex, CFD, or binary options scam, there’s a good chance that you won’t be able to get that money back on your own. And so, we’ve been taking a thorough look at the world of chargeback companies, and today we’re going to go through our Global Refund Group Review.
Chargeback companies help people get their money back after a scam. Every scam transaction is going to have multiple parts. There’s going to be the scam brokerage, the payment processor, and the regulatory authorities. Navigating this complex framework is beyond most people, so chargeback companies like Global Refund group assemble experienced teams in those areas to retrieve lost funds for their clients.
What Makes Handling Scam Brokerages So Difficult?
Scam brokerages are notoriously hard to handle when seeking a refund. It’s not like you can just call up their corporate customer complaint line. Online investment scams are tough to recover funds from due to a few key factors.
Lack of Regulation
A legitimate brokerage is going to have a license with one or more financial authority. These are generally country-specific. Examples include the National Futures Association in the USA, the Financial Conduct Authority in the UK, and the Cyprus Securities and Exchange Commission in Cyprus.
These organizations monitor their licensed brokerages carefully and have strict rules. Unfortunately, many scam brokerages do not register, so there is nobody to go through for punitive or corrective action. Even registered brokerages can still scam people, but there is a transparent chain of command for filing a complaint.
A big part of handling chargebacks is finding the actual location and contact information for the brokerage. They often lie, saying they’re based in the UK or the USA when in reality, they are in some obscure tax haven. Without their actual location, it isn’t clear which authorities could help.
Most banks and payment processors require a reasonable effort to settle a dispute before a chargeback is issued. This means contacting the brokerage directly. But what do you do when the phone lines are dead? Their listed address is made up, and the company isn’t registered – how are you going to find them? This is where the skill of a chargeback company comes into play.
How Does Global Refund Group Address These Challenges?
During our Global Refund Group review, we evaluated how the company faces these common challenges. We found that their team was highly capable of recovering funds even in cases where brokers were unregulated, anonymous, and in offshore jurisdictions.
Going Over Their Heads
Global Refund Group has many tools at its disposal for successfully retrieving funds even when there isn’t a financial regulator involved. Their team includes members with previous experience in banking and payment processing. This gives them unique insight into the chargeback process.
They understand the requirements in place for filing a successful chargeback and can establish cases reliably. In addition, not having a financial regulator to file a complaint with won’t affect the outcome because Global Refund Group knows precisely which documents and material are necessary to issue the refund chargeback.
Tracking Down Your Scammers
The team at Global Refund Group also contains cybersecurity experts. They are well versed in tracking down scammers to issue a request for a refund. This is often all that is required to recover client funds. When the scam brokerage sees that the client has enlisted a chargeback company to track them down successfully, they will sometimes voluntarily refund the client.
Tracking down the actual location of the scammers makes further steps to recover funds go more smoothly as well. Global Refund Group firmly establishes that a reasonable effort has been made to contact the scammers. Furthermore, when scammers have outright lied about their location, finding their actual address gives Global Refund Group more evidence that the transactions were illegitimate.
Global Refund Group Review – Tools for Recovering Funds
So how does Global Refund Group go about getting a refund for their clients? We already discussed the possibility where the scammers hand over money voluntarily, but what if they don’t? In that case, the most direct approach that Global Refund Group takes is to use the chargeback process.
What is a Chargeback, and How Can It Help?
A chargeback is a tool for reversing a transaction. Banks and payment processors have this tool in place for several scenarios like fraud or even mistaken transactions in some instances. It is the final option for recovering money short of taking someone to court over it.
The chargeback itself simply takes the money back from the receiver and places it in the sender’s account. Banks realize that this process could be abused. They understand that people could receive products and services and then force a false refund. This type of thing happens, so there are strict requirements for establishing that a chargeback is legitimate.
The first has been mentioned before. There must be an attempt to resolve the issue with the other party. Next, there has to be an explicit element of the other party not upholding their obligation. For example, if you paid a contractor to fix your roof and they just never show up. This is an obvious example, but cases can be much more subtle.
In the case of online investment scams, Global Refund Group establishes that the scam brokerage has not upheld its end of the bargain. They use documents like your transaction records with the broker and emails or other communications to establish this.
It is important to note that this is a very broad explanation for people who haven’t heard of chargebacks before. The actual process of filing a chargeback is complex. You need a professional to handle the actual specifics. Having your chargeback rejected due to filing errors could make it substantially more difficult to file in the future.
Global Refund Group Gets Results
We investigated their team and process during our Global Refund Group review, but how does this translate to actual results. Well, this company currently has a success rate of 97%, very impressive in this industry. One way they keep their success so high is that they carefully evaluate each case during the free consultation and only take cases that they believe will end in a successful refund.
Is Global Refund Group the Company to Choose?
Overall, Global Refund Group stood out as one of the more thorough chargeback companies. While other companies are prone to misfiling due to a lack of proper information, the experienced team at Global Refund Group knows just what they need and how to find it. Anyone who has lost money to an online investment scam could benefit from calling in for a free consultation with no obligation.