Don’t Get Scammed Again by a Wealth Recovery Solutions Company

Wealth recovery solutions companies are on the rise and as we know all too well, the world of online trading is filled with scammers looking to take advantage of inexperienced investors. Unfortunately, this extends not just to brokers, but also to supposed wealth recovery solutions companies. Here is how you can avoid getting scammed again by a wealth recovery company.

By following the guidelines below, you can protect yourself from fraudulent fund recovery services:

Scammed Again by a Wealth Recovery Company
  1. Make sure to make your payment by credit or debit card: This ensures that you will be protected in case the company fails to deliver on their promises.
  2. Read the contract carefully: This can help you understand the fees, if there may any additional fees, and what you are agreeing to, precisely.
  3. Do not pay a large up-front fee for wire recovery services: Some less than honest wealth recovery companies don’t reveal that your chances for recovering deposits made via wire transfer are less than 5%.
  4. Check the company’s reviews: Look at trusted review sites like Trustpilot  or Sitejabber to see what other people are saying about the company.

Let’s dig a little deeper…

If you were scammed by a broker, that really sucks. Sadly, some of these same brokers open scam wealth recovery companies to re-target their own victims. If you received a call or email out of the blue from a wealth recovery solutions company you did not contact and they claim that they want to help you get payback, this is likely because they are connected to the scammers. Keep reading and I’ll explain each of the 4 pieces of advice above so you can make sure you don’t get scammed again by a wealth recovery solutions company.

1) Be sure to pay the recovery company by credit card

A client of ours recently shared that they paid a recovery company via Jupiter, a cryptocurrency payment company. This is a huge red flag. I won’t name the wealth recovery company in question here due to legal considerations. However, based on this alone, I would not be surprised if they are a full blown scam. By paying with a credit or debit card, you protect yourself from getting scammed again since you can raise a chargeback against the recovery company if they do not deliver on their promises.

2) Read the contract carefully

In order for your chargeback rights to have any teeth, you need to make sure you don’t sign anything to hurt yourself. Many wealth recovery solutions companies take large up-front fees (10% of funds lost is common) but they fail to hold themselves accountable to actually get your money back. For example, in our contract, we charge a small, flat up-front fee. Then, we make a commitment that if we don’t raise a chargeback, we will refund your up-front fee. This does not mean we guarantee that we will win your case, but it means that we are accountable.

3) Do not pay a large up-front fee for wire recovery services

The chances of getting your money back from your broker in a case where you made your deposits via wire transfer are less than 5%. However, some scam or less than honest fund wealth recovery solutions companies do not disclose this. Instead, they mislead their clients into thinking that the chances for recovery are high while charging large up-front fees for this service. This is blatantly dishonest. If a wealth recovery solutions firm tries this on you, stay away! Don’t scammed again by a wealth recovery solutions company.

4) Check the wealth recover solutions company’s reviews

Business review sites can be a good way to check a scam recovery company’s reputation. What are other people saying about this? Are their clients satisfied? Now, keep in mind that review sites are not 100% accurate. Sometimes, companies will leave fake positive reviews for themselves. A good thing to look out for is the following: If the company has a combination of glowing reviews and horrible one star reviews, it is likely that the glowing reviews are fake. However, if there are mostly positive reviews with a few mediocre ones, that is more likely to be real.

Bonus Tip:

There are scammers all over the internet using the “wealth recovery solutions” pitch to try and scam or re-scam victims. If a comment on a website reads “my chargeback did not go through but then I met this person and they helped me” you can be sure that this is a scam. Just because a wealth recovery solutions company is not on a broker blacklist or on a broker complaint registry, doesn’t mean it’s not a scam.

Some final notes on how to avoid getting scammed again by a wealth recovery solutions company

Make sure to follow all of the advice above. Also, don’t forget to do your homework. Pay attention. Google the company. And good luck! If you have any questions related to this article or in general, please feel free to contact us and we will do our best to assist.

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