How to get money back from a fraudulent broker yourself and for free

We offer legal and free step-by-step instructions on how to get money back from a fraudulent broker on your own. No muddy schemes from pseudo-lawyers. Details of paperwork. Examples from life. Tips and tricks on how to avoid getting into trouble. And if this has already happened - how to get out of the situation as a winner.

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Can I get a refund from a broker? What is a chargeback

Even if you failed to withdraw money from the trading platform, despite the mountains of applications, verifications, documents and selfies from all angles, do not despair. With the help of international payment systems - VISA MasterCard and even MIR, there is a chance to return money from a broker for free by contacting a bank. This is the first and most popular of several possible refund options from scammers.

The chargeback procedure (translated from English as “refundable payment”) is a procedure for contesting a bank transfer in situations where the counterparty turned out to be dishonest and did not fulfill its obligations.

Thus, chargeback is a service that is available in case of a dispute between the buyer and the seller (service provider).

Pre-trial procedure: how to independently prepare for the return of money using the chargeback method

To use the chargeback procedure, you need to make sure that it is available to you. According to the Chargeback Management Guide for Visa Merchants and Chargeback Guide Mastercard, this option can be used for payments made:

• between VISA, Mastercard, Maestro, MIR cards;
• from the card of an individual to the account of a legal entity;
• not earlier than 18 months (or 540 days) before submitting the relevant application to the bank.

If you were careless to make a payment through online banking, through the SBP system, electronic wallets or crypto, it will be impossible to return money from the broker on your own using this method.

If everything is in order, start preparing.

1. Set up audio recording of calls on your phone or computer, download all the necessary applications and make sure that they work correctly. Such recordings are important evidence, both during the chargeback procedure and in court.
2. Take screenshots of the balance, transactions, withdrawal requests in the personal account of the broker. You need to act quickly before you have access to your account closed. As evidence, you will need a report on the replenishment of the trading account, a journal of requests for withdrawal of funds, reports on the financial condition of the bank account and in your personal account. The last screen is especially important when interacting with the bank.

Most often, banking institutions are more willing to process the return of funds if there is money on the victim's trading account. It is more difficult to return the merged deposit yourself. Although it is also possible.

1. Remove programs for command access to your device. Very often, various false analysts recommend installing remote control software on your computer or phone. If you're not aware, programs like AnyDesk and TeamViewer can be used with less than the best of intentions. And under the pretext of consulting and effective asset management, unscrupulous "advisers" get access to your personal data. By removing all such programs, you will secure your accounts, and you can also save evidence (for example, correspondence) from being deleted by someone from the outside.

These are the main stages of preparation before the main battle. When everything is ready, you can safely proceed to the main part of the procedure for returning funds from a scam broker.

Claim work

As in litigation, in order to carry out a chargeback, it is necessary, first of all, to send a claim to the broker. It is best to do this in the form of an official letter (even by e-mail). The following must be stated at the beginning of the complaint letter:

• registration data of your account;
• date of conclusion of the contract;
• dates and amounts of payments transferred to the trading account.

Next, you need to write that you were not provided with the services promised by the broker, so you demand the return of the money spent on them. It is advisable to specify a specific (but legally reasonable) deadline for the return of your payment.

If the account from which the trade was conducted has already been blocked, this can also be used in a claim. Moreover, this can be the main argument. Therefore, be sure to save a screenshot of the authorization page with a message about blocking the account, as well as the contract.

Usually, scam brokers do not transfer any contracts to their clients. But in this case, even a client agreement or screenshots from the website of a brokerage project will do.

The claim is sent to the broker's e-mail (for example, to the technical support e-mail). Next, you need to screen the line with the sent letter in the "Outbox" folder of your mailbox.

Termination of an agreement

After the claim is sent, you must wait 10 working days (two calendar weeks). This is the same reasonable period that is usually provided for in various legislative acts. If there is no reaction (and this usually happens in 99% cases), a notice of unilateral termination of the contract is sent to the same mailbox.

In the notice of termination of the agreement, it is necessary to refer to the previously sent claim, which remained unanswered.

Also in the notification it is worth referring to Part 1, Clause 2, Art. 450 of the Civil Code of the Russian Federation, according to which you refuse further cooperation and demand the return of payments for unfulfilled obligations.

How to negotiate or write

Once the black broker realizes that the client is about to jump the bait, be prepared to be attacked by all sorts of "security officers" or "financial department" representatives. Employees of "European banks" and even "regulators" can also join them. But keep in mind, all these people are ordinary werewolves who operate in the same gang of scammers and have nothing to do with security, much less control and regulation.

You should also be prepared for the fact that from now on the broker will use all possible methods of influence, from persuasion and feeding “breakfasts”, to aggressive condemnation, threats and even extortion.

Do not forget that if you have already fallen for a false broker's divorce once, he will try to use your weaknesses this time as well. They will try to manipulate you, they can send various fake documents with fines, taxes and even state seals. It is important to remain calm, not to agree to anything, not to translate or sign anything. And, of course, carefully record absolutely everything. The success of the entire procedure will depend on your composure and the volume of recorded correspondence and audio calls.

We return money from a broker through a bank using the chargeback method

After you have completed all the preparatory steps, apply to the bank with an application. At the same time, the claims department, no matter how strange it may sound, will certainly ask you for proof of your payments. Why does the bank need this, because it already takes into account all the operations of customers? The problem is that the claims department does not have access to this information. Therefore, receipts and statements for the required period of time will be required.

How to apply to your bank

Evidence of completed transactions is easiest to "pull out" from your personal account in the bank's online application. But in case of filing an appeal at a physical branch, copies certified by the bank may also be required.

If you have checks from an ATM, contracts or receipts on paper - to apply through the bank's website, they must be digitized (photographed or scanned). At the same time, it is important that the files are not too "heavy".

You can also attach an explanatory note in free form to the package of documents.

Depending on the bank, you can send an application with a package of documents through the online support form on the website, through a mobile application or by e-mail. Do not be too lazy to write down the contact details of the relevant department of your bank in order to clarify at what stage your issue is being considered.

How to Contact a Black Broker's Bank

To find out which bank your money went to, send a request to your credit institution, asking them to send additional information on the desired transfer. These include:

• name of the acquiring bank (broker's bank);
• ARN transaction identification numbers;
• recipient's business category codes according to the MCC classifier.

Having received answers on all these points, you will know exactly where and to whom your funds were sent, as well as what documents justified their transfer.

In the appeal, you must indicate the legal name of your bank, your full name, passport and contact details. The dates and place of transactions, the amount of the transaction are also written there.

What to write in applications for disputed payments to your own and scam-broker bank (sample documents)

After you have received the requested information from your bank, make an appeal to the issuing bank (your own) and the acquiring bank (the bank of the fake broker).

When contacting the acquiring bank, you must indicate the number of the card from which the money was transferred, as well as all payments with detailed information that you received at the previous stage:

• dates
• name of the acquiring bank;
• ARN;
• amounts in rubles;
• currency amounts.

Also indicate that you sent withdrawal requests to the broker, but they were ignored. Do not forget to mention that you tried to negotiate with the company, attach screenshots of correspondence / conversation recordings.

Be sure to note that you suspect the broker of fraudulent activity. Especially if the activity code according to the MCC classifier differs from 6211 (only companies operating under the code 6211 can legally receive payments for financial services). If this figure is different for the broker, then he deceived his bank as well.

Along with this, among the violations can be listed:

• payments for incorrect activities (miss coding);
• carrying out brokerage activities without a license;
• payments to a foreign legal entity that is not registered in the Russian Federation.

At the end, ask for a refund for all transactions listed in the application.

When contacting your bank, please provide the following information in your application:

• your full name as the cardholder;
• with which broker the contract was concluded;
• information on payments (date, time, amounts, etc.);
• facts of non-fulfillment of obligations undertaken by the broker;
• what attempts have been made to resolve the dispute peacefully.

Next, you voice a request to the issuing bank participating in the payment chain, to consider the application and send it to the acquiring bank (the bank serving your fake broker). In the same place, write a request to the acquiring bank to initiate a refund procedure (chargeback).

This application may have a standard form that was published on the website of your bank. You can find it using the advanced site search.

The final stage of the return of money from the broker

After both applications are completed, scan them (if necessary), put them together with other evidence in a folder, archive and send to your bank.

When applying online, use the special form on the website or e-mail. After the files are delivered, you will be sent a request number, which must be recorded. It is by this number that you can track the status of your appeal.

If applications can only be sent through the physical branch, all documents are printed in duplicate, signed and submitted to the Claims Department. At the same time, it is important that the bank employee records the appeal and assigns it a tracking number.

By law, the issuing bank is required to review your application within 45 days. Therefore, it is worth checking the review stage no more than 1 time per week. But at least once every half a month. This can be done both through the site and by e-mail or phone.

picture appeal status

Where to complain if the bank refused to return the money from the scammer

It should be borne in mind that the chargeback procedure is complex and painstaking. In addition, banks do not receive any fees for these transactions, and acquirers generally remain in the red due to commissions. In addition, fines of payment systems are possible. And the main responsibility of banks extends only to those funds that were stolen from the accounts / cards of customers without their knowledge (for example, due to hacking). Therefore, it is often possible to get a refusal in the chargeback procedure, both from the acquiring bank and from its issuer. This is a common bureaucracy, so you will have to be patient and act taking into account the peculiarities of this process.

Important! Not every bank employee knows the term "chargeback". Therefore, if you are not understood right away, say that you want to dispute the transaction.

Here are a few things you can do in the event of a rejection.

1. If the application is rejected for the first time, it can be resubmitted by providing additional arguments/evidence. A typical response from the bank in such cases is the inability to apply a chargeback in your situation / lack of authority to interfere in contractual relations, etc. But pay no attention to it. You can write a claim demanding to comply with the rules of payment systems, to comply with the law (in particular, Federal Law-161, Article 9, Clause 8 - the obligation to consider customer applications by bank transfer operators).
2. Another common problem is ignorance of such an opportunity, or simply the incompetence of bank employees. In this case, it is necessary to record the data of the operator and file a complaint against him with the authorities. This can be done either in writing or in person by making an appointment.
3. In a personal meeting with the manager, it is worth briefly explaining your problem. Perhaps it will be resolved already at this stage.
4. If the bank management also refused to meet you, you can also file a complaint against it. Send it to the head office (by registered mail, by e-mail or in person).
5. An effective method is a negative review on the Banki.ru service. Credit institutions carefully monitor their reputation, so they constantly monitor what is written about them on the Web. Due to high competition, this method will help to stir up slow-moving bankers.
6. You can also complain to the Central Bank of the Russian Federation, which carefully monitor the implementation of legislation by credit institutions. Banks are trying not to fall under the scrutiny of the main financial regulator. Indeed, in this case, checks, fines and other troubles are inevitable. The regulator especially dislikes banks that transfer money to the accounts of scammers and illegal offices. You can file a complaint with the Central Bank through a mobile application, by phone, on the official website (path: Internet reception - banking - quality of service). The complaint can also be printed out and sent by mail to the Moscow address of the regulator (address information is also available on the official website of the regulator).
7. Another channel that receives complaints is the Association of Russian Banks (ARB). This is a non-profit association that cares about improving the service in the field of financial services. Roughly speaking, ARBs act as an intermediary between clients and the bank at the pre-trial stages of dispute resolution. Consumer complaints are collected and published on the official website of the Association. It is submitted through the "Applying to the Bank" section.
8. You can also contact Rospotrebnadzor. After all, ignoring your appeal by the bank can be regarded as poor-quality service. Refer to Articles 12 and 14 of the Law "On Protection of Consumer Rights". You can send a complaint through the official portal of the department, in the "Reception of applications" section.

It also happens that the refusal comes from the acquiring bank. Having received a refusal from your bank sent by the acquirer, you can repeat all the steps listed above. You can write complaints to regulators, federal agencies, raise kipish in the media and social networks.

There were situations when the chargeback was carried out only after 7 submitted applications. Therefore, don't give up.

It is important to remember that the chargeback period is 540 days. After this period, the refusal of the bank will have a legal basis.

Using the described approach, you can independently return the money from the broker. Although this process has its pros and cons. From the positive - full personal control of the process, no additional costs for intermediaries. At the same time, the procedure for self-returning money from a scam broker takes a lot of time and effort. Therefore, everyone must decide for himself what is better for him - to pay money to an intermediary (however, it is far from a fact that you will come across a reliable office that really deals with such matters, and does not breed naive clients for double losses). Or, be patient and try to return the money on your own.

Do not know if it is possible to return money from a scam broker in your case? Get individual advice on your problem.

There is a third option, which we will discuss below.

How to get money back from a fraudulent broker through the police and the court

In addition to the traditional chargeback scheme, in our country it is possible to return money from a fraudster through government agencies for free. This scheme is suitable for cases where money, for example, was stolen by a fraudster due to the loss of confidential/banking data or the voluntary transfer of funds for fictitious services. This works best when the scammer is within domestic jurisdiction.

In this case, you should contact the police along with a copy of the appeal to the bank about the transaction in favor of the fraudster. All possible evidence that we listed earlier (including recordings / screenshots of negotiations) is attached to the application.

Sample complaint letter to the police Although the police are reluctant to take on such cases, they are required by law to consider the complaint received and report the results to the complainant. Their scheme of work boils down to three points:

• identification of the payee;
• determination of the possibility of filing charges of fraud;
• punishment of perpetrators.

At the same time, regardless of the result of the check, as well as the possibility of punishing the fraudster under the criminal code, you will become aware of the data of the scammer, which can be used to file a civil claim.

How to get money back from a scammer through the court

To file a claim for the return of stolen money, it is important, first of all, to determine the jurisdiction. If the amount of stolen money (claimed amount) is less than 50 thousand rubles, the application is submitted to the Magistrate's Court. If higher - to the district, at the place of residence of the plaintiff. Written evidence and a copy of the passport are also attached to the claim.

The subject of the application to the court can be Art. 1102 of the Civil Code of the Russian Federation (unjust enrichment), according to which the recipient of funds undertakes to return them to the sender, if in return he did not provide comparable services (goods) in value.

Additionally, it is advised to file a claim for compensation for non-pecuniary damage.

Proceedings on such claims usually last quite a long time. However, there are cases where the money illegally obtained by the fraudster was returned to the plaintiff.

What the jurisprudence says (a real example of a refund from a broker)

Unfortunately, the court, as well as banks, is very rarely on the side of the victim. Indeed, in most cases, the victim gives his money to the broker on his own and voluntarily. In their desire to get rich as soon as possible, people lose all critical thinking and vigilance. For which they are usually punished.

But there are also very unusual cases when, although not soon, a person who has lost money on trading with a broker manages to restore justice and return the money himself.

Here is one of the stories.

1. A certain "progressive investment company" offered one citizen up to 20% of income from the amount of her investment (a standard scheme with the promise of incredible interest). She was also told about many years of experience in the financial markets, the availability of licenses from the Central Bank of the Russian Federation and the Cyprus Commission (also a fairly common case). She fell for it, entered into an agreement with a broker and deposited almost $3,000 into the account.
2. After some time, the unfortunate investor tried to withdraw funds from the account, but could not. At the broker's office, she was told that it was impossible to do so. Moreover, after another month, the citizen discovered that she had a debt that exceeded the initial amount of investments by more than 3 times.
3. After that, the victim organized a successful chargeback, and she managed to return the money from the broker on her own through the bank.
4. At the same time, the broker, having learned about this, first filed a statement on the fact of fraud to the police. And then, due to the lack of corpus delicti, he filed a lawsuit in court. The citizen answered him with a counter-statement.
5. In his lawsuit, the broker stated that although his client lost money, she was warned about such a risk. And the bank, without waiting for an explanation, immediately wrote off the money from the brokerage account. The requirement was to return 3000 USD. with additional interest. By the way, everyone forgot about the debt of 9000 USD.
6. The citizen's counterclaim alleged that the broker misled her with false data about experience and regulation. In addition, the real broker was registered abroad, and she transferred the money "locally", which makes the concluded agreement null and void.
7. The court dismissed both claims. Indeed, in fact, the bank took the money from the broker and returned it back to the citizen due to the lack of explanations from the employees of the brokerage company. Therefore, there is no question of any unjust enrichment here. But the nullity of the contract, as well as fraudulent enrichment, were also not confirmed by the citizens indicated in the lawsuit. After all, the unfortunate investor, before giving away her 3,000 bucks, took a long time to study, which means she had the opportunity to think over and check everything. And even despite the lack of a license, in this case it was not about financial / trading services, but about providing a platform for trading on the stock exchange. To do this, as it turned out, is possible without regulation.

Despite the refusal of the court, in the end everyone remained with his own. The citizen returned the money lost from the broker (no one began to take it from her). And the broker returned to the previous path and went to breed other, less cunning investors.

Legal advice on self-return. How to increase your chances of success

To increase the chances of success in the procedure for the return of funds from the broker, you should listen to a couple of good tips from the lawyers who accompany the chargeback.

1. The sooner you realize that you are being lied to, the better. To test a broker, register, fund your account with a minimum deposit and trade for a while. Then request a withdrawal. But if in return you get ignored or standard unsubscribes, launch the chargeback without delay. Among the typical reasons why the broker refuses to withdraw money are technical problems, a delay in the approval of the withdrawal by the financial unit, the need for additional documents / verifications, signing an agreement that contains a clause on a voluntary donation, a fine, etc. Often, the broker requires you to pay a commission, the size of which for many is unbearable.
2. If you have started the chargeback procedure, do not try to tell your scammer about it. It is better to pretend that you have taken a break to look for funds for a new deposit. By telling your opponent about your intentions, you give him room for maneuver. And any of your next steps can be used against you. For example, an unscrupulous office can force you to sign false documents (a waiver of claims, a fake settlement agreement, and much more).
3. If you decide to delegate the procedure for returning lost money to a lawyer, carefully study this company. There are many charlatans on the market who give 100% a guarantee of success, and in the end make you a victim of double deception.

It is important to take into account one more thing - it is easier to prevent troubles than to correct mistakes made later. Therefore, we offer a checklist for checking a broker before concluding a cooperation agreement with him.

How to protect yourself and distinguish a real broker or lawyer from a scammer

Watch a video on how to recognize scammers in the financial markets.

There are several signs that your broker will be in trouble in the future.

• lack of information about the license and registration is the most important indicator that the company is engaged in illegal activities;
• foreign registration - in itself, this is not a fact of fraud, but in case of disputes, the procedure for resolving them will have additional difficulties and costs;
• quick and easy registration without checking documents - bona fide brokers are required to check their clients before opening an account, otherwise they risk losing their regulator's license;
• aggressive recommendations to replenish the account, importunity;
• generous bonuses - all kinds of "doubling the amount of the deposit", incredible interest on dividends, affiliate programs;
• use of accounts of "subsidiaries" - honest offices provide their own details, without intermediaries and third-party services;
• a request to transfer funds to personal accounts of employees of a brokerage company - after all, this is prohibited for real brokers;
• cheap sites with a standard structure and primitive content;
• a short period of existence of the broker.

It is also important to remember the signs of black lawyers who kindly offer to return the lost money from the broker without prepayment. These markers include:

• the desire to obtain personal data that is not related to the subject of the dispute;
• lack of clear contact details, registration;
• guarantee of success;
• stories about personal connections with the broker;
• the need to transfer the returned money to a third-party service (for example, an unknown crypto-bank);
• no prepayments, payment of a success fee;
• a higher refund amount than the one that was actually lost due to the fault of the broker.

So, we told you about everything we knew about the procedure for returning money stolen by a broker under the chargeback scheme, about pre-trial and judicial settlement of disputes. And also about how to recognize an unscrupulous company “on the shore”. Use our instruction, check the information offered by brokers or virtues in the field of legal services. And you will profit.

Don't know if it's realistic to get money back from a scam broker? Fill out the form and we will send to your e-mail a guide on the return of money from fraudulent brokers independently and for free.

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