The FBI has taken decisive action against the notorious Israeli money recovery scheme, Pay Back, by seizing its website. FinTelegram has long warned about this fraudulent operation, also known as Payback and Money Back, placing it on our black compliance list. For years, we believe that this scheme has exploited fraud victims by falsely promising to recover lost funds, operating under various brands, domains, and websites. We ask insiders and victims to provide additional information.
Background and Recent Developments
Pay Back, founded by Israelis Amir Geva and Daniel Poleb, has been masquerading as a legitimate fund recovery expert while allegedly defrauding countless victims. The UK Financial Conduct Authority (FCA) recently issued an updated warning, identifying Pay Back as a clone of an FCA-regulated company.
FinTelegram has received several hostile communications from Pay Back’s associates in response to our warnings. Despite this, we continue to expose their deceptive practices. Fund recovery scams like Pay Back prey on the desperation of scam victims, compounding their financial and psychological distress.
Call to Action
We currently lack detailed information about the FBI’s enforcement action against Pay Back. FinTelegram appeals to whistleblowers and victims for more information. If you have any details about this case or have been affected by Pay Back’s operations, please get in touch with us through our Whistle42 system.
The Impact of Fund Recovery Scams
Fund recovery scams occupy a particularly heinous place in the cybercrime hierarchy. They not only rob victims of their remaining resources but also shatter their hopes of financial restitution. These scams are devastating both financially and psychologically, often leaving victims in worse conditions than before.
FinTelegram is committed to shedding light on these unscrupulous activities and supporting victims in their pursuit of justice. We encourage anyone with pertinent information to come forward and aid in the fight against such malicious schemes.
