The follow-up scam may be completely separate or related to the previous fraud, such as an offer to get your money back or to buy back the investment after you pay a fee. If you have any concerns at all about a potential scam, contact us immediately. Once you realise you are being scammed, do not continue the conversation. In some instances the scammer will be aware of these rules and will specify a different delivery address or collect in person. If you are looking for more information, you can visit website or contact us at USA / CA: + 1-855-869-7373 and UK: + 44-800-041-8324. For section 75 to apply the item or service you bought must have cost more than £100 and not more than £30,000. This is because PayPal aren’t part of the transaction; the scammer has just used their branding without their knowledge to make fraudulent activity look legitimate. If the investment scheme was not technically illegal but simply misleading, you are going to have trouble getting your money back. If you used a debit card, you may be able to ask your bank to get your money back through the chargeback scheme. Your bank might be able to either stop the transaction from going ahead … If you’re suspicious, report it As long as you’ve met all of the criteria you should be protected. I had that problem where I was scammed and my bank went after the money I lost. If there is a transaction on your card you know nothing about, then you can make a claim from your bank as an unauthorised transaction. If the scheme was illegal, then you have been subject to financial fraud and the scammers have committed a criminal offence. A company is contacting you out of the blue . Bank Negara provides a watch list for likely investment schemes and you can file a report with them in case you got scammed, but generally, the enforcement level is low and you should not expect any action from Bank Negara to result in a refund for you. Even if you decide to sue, do you know who you are targeting? Lack of money to pay for other things; Lots of phone calls from strangers or companies. Always keep a record of anyone that you deal with professionally or when dealing with money. So I transferred the money thinking he was legit and he never sent anything!! On the other hand, you might not have the legal basis to sue the people behind the scheme because you were not directly involved with them. An example of a scam where you could use section 75 of the Consumer Credit Act or chargeback would be a scam where you paid for goods or services and it turns out these were either never available or the 'seller' has disappeared. The police report urges the police department to start an investigation into the scam. we have previously warned you about common scams in Malaysia. Do you sue the company or the person? Home; Testimonials; Services. A good way to do this is through Ponzi Scheme Alert Malaysia, a Facebook group dedicated to revealing financial scams in Malaysia. Scams are on the rise with even the South African Reserve Bank being targeted. If confronting the culprits is not successful, your next step is to file a police report. You might need to do this if you want to stop payments or claim back money. If you're helping someone who's been scammed, there are ways you can manage their bank account for them. If the money can be retrieved you are entitled to a 100% refund, and you can even sue for damages, but that is up to you. Paying money to get more money back. It’s not your fault, and there are plenty of non-judgemental advice lines you can call who will understand. But this has conditions and requirements - particularly around the delivery address that's used and the seller having proof of delivery. Disciplines. However, an investment fund that simply pretends to be investing by moving money around is an illegal financial scheme and you can report this as a crime. However, if the cost of suing is higher than the rewards you might or might not receive, a civil case is not worth the effort. Do not make any more payments. If a company you’ve never dealt with before is contacting you out of the blue - whether online, on the phone or face to face, and is asking you for money - be very wary. Lottery Scams . In case you are wondering whether an investment is a scam, you can check out their list of known financial scams in Malaysia. Find a letter to suit your need by using our letter tool to search by category. This way you will have an extremely detailed oversight of your engagement with the scammers when you are trying to figure out what happened to your money. ... Latest Petrol Price for RON95, RON97 & Diesel i... How To Get Your Money Back From Financial Scams. Sellers can get scammed as well: Anon – I want to share my experience almost being scammed. Myself was scammed 3000 using ebay gift … The Payment Services Regulations 2009 and the Banking Conduct of Business rules place obligations on banks and building societies to provide a refund in these circumstances. For one, everyone hates feeling cheated, also it's just gravy that you probably feel as if you could have prevented it from happening. I’m very internet savvy, but the scam I was taken in by was so slick it was totally believable. Subscribe now to get our weekly newsletter for free! After completing the sale normally, the seller will post the package with the correct address but the wrong name. Thankyou for anyone who is of … We purchase 3000 dollars with walmart gift cards and it was a scam and we are wanting to get our money back for this. Most of the banks are good about going after scams. Do not fall for investment schemes that promise unrealistically high results, it never ends well. 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