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Tag: Money Back

September 3, 2024

⚠️ WARNING: Do Not Fall For The Pay Back Fund Recovery Scam ⚠️

The UK Financial Conduct Authority (FCA) has issued a renewed warning against Pay Back, a/k/a Money Back fund recovery scheme. This scheme, which operates out of Israel, has been blacklisted by FinTelegram due to its deceptive practices. Despite posing as a legitimate recovery service, Pay Back has been exploiting scam victims by promising to recover their lost funds for an upfront fee.

July 3, 2024

An Open Letter to the FBI: Addressing the Persistent Threat of the PayBack Scheme

As a concerned entity dedicated to the fight against financial fraud, we at FinTelegram commend your recent efforts in seizing one of the websites associated with the notorious Israeli money collection scheme, PayBack, also known as MoneyBack. This operation, led by Israelis Amir Geva and Daniel Poleb, has been masquerading as a legitimate fund recovery service while allegedly defrauding countless victims. However, this recent seizure is just one step in dismantling an extensive and multifaceted fraudulent network.

June 26, 2024

Attention: Another Regulatory Warning Against Israeli Fund Recovery Scheme Pay Back!

The Israeli fund recovery scheme, Pay Back, a/k/a Money Back, has been black-listed by FinTelegram following detailed investigations. Operating for years under various brands, domains, and websites, this scheme has been exploiting the vulnerabilities of scam victims under the guise of offering them a chance to recover their lost funds. The UK FCA issued an updated warning against the scheme, which acts as a clone of an FCA-regulated entity.

March 19, 2024

The Scamadviser Connection to PayBack And The Nino Goldbeck Event Participation!

Cybercrime is a lethal threat to our global online society. Schemes like Scamadviser position themselves as bastions against online scams. Scamadviser, under the stewardship of founder Jorij Abraham, ostensibly battles the digital scourge of scams. Not content with Scamadviser alone, Abraham also pilots the Global Anti Spam Alliance (GASA), amplifying his anti-scam crusade. Yet, beneath this veneer of virtuous combat lies a perplexing association that beckons rigorous scrutiny.

August 6, 2023

Urgent Warning Against Israeli Pay Back Agency Fund Recovery Scheme!

In our view, dubious fund recovery schemes are the worst of all because they play on the forgiveness of victims. The U.K.'s financial markets regulator FCA has warned against the Pay Back Agency fund recovery scheme, which would allegedly be regulated in Israel. In 2019, the FCA and other regulators warned against Pay Back Ltd, a/k/a Payback Limited. We think these schemes belong together and warn all victims of scams to fall for them.

September 4, 2021

Israeli fund recovery schemes chasing scam victims

Israeli fintech pundits also invented binary options industry. Big players like SpotOption, PandaTS, or Tradologic had thousands of binary options schemes running on their platforms as white-label clients. Binary options turned out to be ultimately a gigantic fraud industry. Conveniently, fund recovery companies have also emerged in Israel, often run by former scammers. Schemes like Europe Refund or MyQuickRefund run massive Google Ad campaigns to acquire scam victims and sell their expensive services.

July 7, 2021

Fund Recovery – An Ombudsman report on PayBack and Money Back

We have already published a review about the Israeli fund recovery service Pay Back a/k/a PayBack a/k/a Money Back owned by Amir Geva and Daniel Poleb. It is no secret that we are very skeptical when fund recovery services ask victims for several thousand euros or dollars down payment and, in addition, profit sharing. In many cases, it would be easier for victims to go directly to the relevant financial ombudsman and reclaim the money from the facilitating bank. This is also confirmed by the following report from a Financial Ombudsman.

April 11, 2021

FCA warning against Binary Forex Recovery scam

The FCA has this week issued a warning against the fund recovery scam Binary Forex Recovery (www.binaryforexrecovery.com). On the website, we have not found any information about legal entities or persons running the scam. Addresses in the United Kingdom and the United States are given. Interestingly, the website presents articles about the fraudulent activities of other fund recovery scams such as Wealth Recovery International (WRI) and Austin Smith. The fact is that 9 out of 10 fund recovery offers are unfortunately scams or operated by scammers.

Fund Recovery

January 8, 2021

MoneyBack and PayBack – more fund recovery ventures from Tel Aviv

Israeli scammers have expanded their business model globally between 2010 and 2018, spreading their boiler rooms geographically. They defrauded hundreds of thousands of retail investors out of billions of dollars. Now, the center of the global fund recovery business is in Tel Aviv. Like Wealth Recovery International (WRI) of Austin Smith, some of them have turned out to be scams or fraudsters. Others like Action Refund, Money Back, or Pay Back are being under our investigation. Stay alerted and super-cautious. We'll keep you updated!

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.

KTM’s Collapse: How Pierer and Blazicek Possibly Misled Investors and Profited Amid a €2.9 Billion Crisis!

The recent insolvency filing by KTM AG, Europe's largest motorcycle manufacturer, has unveiled significant managerial failures under CEO Stefan Pierer and Chairman of the Supervisory Board Josef Blasicek of Pierer Mobility AG. Despite clear indicators of financial distress, the company continued to distribute substantial dividends, misleading investors about its fiscal health. Here is an investor update on the KTM case.

Investor Briefing

Investor Briefing: Why Elon Musk’s SpaceX is valued at $350 Billion!

SpaceX, Elon Musk's private aerospace company, is reportedly in discussions to sell insider shares at a valuation of approximately $350 billion. This would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. Musk's closeness to Trump is apparently paying off.