Consumers reporting Mr. Villard have stated that he contacted them with very specific details. He knew what trading sites they had used, and how much money they had lost. Because Mr. Villard presented the logo and contact details of the AMF when he reached out to these consumers, it was easy for them to believe that he was an official representative of the AMF.

By taking advantage of this trust, Mr. Villard has been able to drain the accounts of these scam victims even further through his own con. Another case to make international headlines was that concerning Frank Gregory Cedeno and Leonel Valerio Santana. These two individuals operated between and , and pretended they were with the SEC.

They specifically went after traders who had invested in binary options through companies which the CFTC and SEC have since sued.

As with Mr. Villard in France, Gregory Cedeno and Leonel Valerio Santana went out of their way to make themselves look legit. They went beyond using materials which appeared to originate from the SEC, and actually engaged in identity theft. Consumers who were contacted by them who took the time to look up the names they were using believed they were dealing with real-life , verifiable employees at the SEC. That means that at least some of the money should be returned to the victims, but obviously this is not the whole sum.

As if these government agency impostors were not enough, there is yet another type of binary options funds recovery scam out there. Sometimes fraudsters do not claim to be with a government agency at all.

They admit to being private individuals or businesses. As such, they appear to be upfront. They offer to help you recover your lost money — for a fee. All these entities are doing is walking you through the chargeback process where you attempt to have charges to your credit card reversed. There is often an upfront fee as well as a fee upon successful recovery of your money.

You might think it is worth it to pay a fee for such a service if it increases your odds of success. But no third party is empowered to initiate a chargeback for you. You and you alone can do it.

You have to go directly through the card issuer or bank. Actually, chargebacks succeed more often than you might think — and quite often, you do not even need to go through the process. All you have to do is threaten the binary options company. Tell them what you plan on doing, and they may just give you the money back. Because if too many customers succeed in chargebacks against them, the credit card company may simply decide to blacklist them.

So do not waste more precious money on chargeback scams. Just handle the chargeback on your own. It is important to be wary of any offer you receive to help you recover funds you lost trading binary options.

If you are contacted, here are some tips to help you stay safe. The main thing to remember when it comes to binary options scams is that you are the victim. You already have suffered financial losses through the illegal actions of another. If the court orders restitution, you, as the victim, are entitled to receive your share.

If you had to pay a fee to receive that money, that would be a predatory practice — you would simply end up being victimized again. Automated page speed optimizations for fast site performance.

Home Services Binary Options Scams Cryptocurrency Scams Forex Scams Stock Trading Scams Contact Us About Us. Email support recovery-global. Binary Option Scams Here to help you get back what you lost to a Binary Options scam. Contact Us. Why Choose Us We Are Industry Leaders in Financial Recovery. Our team of recovery experts have decades of experience in the field of scam debt recovery. We lead the way in the four main areas in which you may have been a victim of a scam.

Binary Options.

Many of our readers here at Finance Magnates will be familiar with the swathe of scam artists and con-men that made up a large contingent of the binary options industry. From rigging trades, preventing withdrawals and encouraging bad trades, many firms made millions fleecing innocent people of their hard-earned cash. As a result of this, some regulatory authorities have now banned the sale of binary options to retail clients.

Just last week, for instance, the European Securities and Markets Authority announced that it would be extending its binary options ban for another three months. These bans may prevent investors from being scammed in the future but for those who have lost their money they offer only minor consolation. In fact, getting money back from scammers, who remain almost entirely anonymous, has been a challenge for most of the victims of binary options scams. Playing on the desperation of those who have fallen prey to scam artists, these people appear to be trying to trick the ex-clientele of binary options into parting with more of their money.

Finding these people is not difficult. Peruse the comments section of any news article covering binary options and you are likely to find a post along the following lines: I lost a lot of money trading binary options, thankfully company X helped me get my money back - just email company X here to find out more. A visit to one of these websites generally yields similar results. Fake office addresses, fake US phone numbers and no indication as to who actually works for the firm. Unsurprisingly, it appears that these firms also require up-front Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity.

The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time. In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks.

While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering — though this is far more limited today than it has been in the past. The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures.

More recently, this industry has seen the rise of Peer-to-Peer P2P payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.

One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution. This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times.

One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. Read this Term so that they can start your case. Of course, the likelihood of you ever seeing that money again is minimal. Anyone wishing to use their services must also pay in cryptocurrency - making it nearly impossible to determine who you are actually sending money to.

Another company, Dunde Wealth Recovery Group, even claims that it is owned by Merrill Edge - an online brokerage service owned by Bank of America Merrill Lynch. Determining who operates these sites is difficult but, in a couple of cases, we can see that they are not based where they say they are.

Users of Scam Warners found that investigators, a site that claims it can recover funds lost to binary options scammers, was registered in Odessa, Ukraine, by Qui Hoang. This is despite the fact that the firm lists American phone numbers on its website. A similar website, Wealth Recovery Now, lists its address as being in Ohio and provides users with a US contact number. The site, however, was registered in Canada and the person that set it up did not provide any name or contact information.

There are two main driving factors behind the creation of these scam websites. Most importantly, those that have lost money from binary options are usually desperate. These are not billionaires who can stand to lose a few hundred grand but regular people who may have lost their entire life savings.

Anyone in that position is likely to be desperate for help. This is especially true given how hard it has been for proper authorities, be it regulators or the police, to tackle scammers, most of whom are abroad and operate anonymously. They need to get their money back and have a very small number of avenues to pursue in order to make that happen. Equally important in this instance is, sadly, gullibility.

People who have fallen prey to binary options scams are likely to have a limited understanding of trading, technology and financial Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.

In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order.

In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.

Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors. The most-recent regulatory push in the aftermath of the Great Financial Crisis of has delivered a material shift in the regulatory reporting landscape. Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges.

Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation.

Read this Term. The scammers claiming that they will be able to get their money back are fully aware of this. Indeed, they use this fact to prey on them more and to take even more money from them. Preventing such people from operating seems like a Sisyphean task. The site operators are difficult to find and, as soon one is shut down, another pops up somewhere else.

Perhaps the best means of stopping them would be to stop the supply of victims. Authorities could ensure there are better means of recourse and, as hard as it may be for them, victims of binary options brokers should not be tempted by any offers of funds recovery that sound too good to be true.

FM Home. Dunde Wealth Recovery Group which claims to be regulated by the FCA. Binary Options Recovery - the site also offers hacking services.

Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. Beware of scams operating on social media. They help claimants to explain the incident to the bank or credit card company, so that they fully understand what has happened. They have a solid record of recovery from genuine claims. Binary options recovery scams have been cropping up all over the globe.

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