payback-ltd.com

Who are payback-ltd.com?

Well for starters they appear to use a very similar structure of website to the average boiler room scam site, BS on the left, sign-up box on the right, they even have the same 07400 123456 number as the suggested mobile contact number, just like the scammers:

Can that really be a good sign?

Amongst the sites they claim to have made successful recoveries from are:

 

Now none of these companies are even brokers, so they either offer totally different services to what they are claiming, or all of these are just pasted on the website to pretend they offer cryptocurrency recovery when they do not. How you could make a recovery from CoinBase is completely beyond us. This action represents a currency transfer and so a bank returning the debit seems like odd behaviour. That would legally imply that cryptocurrency is worthless, unless the cryptocurrency is reversed too, but those transactions are not so easily reversed without the consent and availability of both parties, they are also completely untraceable by transaction, only by wallet destination, which they would not know.

The next worrying element of this site is the TrustPilot set-up. Now all of the scammers have impossible TrustPilot ratings, so we know that the TP website is completely hopeless at stopping scammers and is actually a huge problem as it is where most people check on scams like Bitcoin Rush, see a good score, and then proceed to be scammed. The signs are fairly obvious - reviews with very few reviews but have added a profile photo of a suspiciously stock photo looking face. They all use the same tricks. With the reviews here though, they seem to reference another company altogether. The website URL is definitely right, Payback-LTD.com, but the company name is now Money Back Ltd, which is important as the LTD indicated a private limited company, not a trading name, so which is it? It appears to have the PayBack logo on the TrustPilot site, but not the correct company name.

Now the Money-Back.com site is a different site, as you can below they have a spate of bad reviews on TrustPilot, which is obviously the reason they have rebranded themselves to be Payback-Ltd.com as everyone was reading the bad reviews and steering clear of what some people appear to be referring to as a second con or second scheme to defraud people. These reviewers seem to be inferring that they regard this company as simply trying to get a second bite at people who scammers have already identified as vulnerable:

As you can see written on the right hand side at the start of this clip, they pay TrustPilot for 'extra features' which means that they obviously regard TrustPilot as a large source of their business. The positive reviews are a few lines long at best and have no specific details of anything, as if they have been simply pasted in by third-party people who are being paid to submit reviews. The positive reviews are so terse as to be applicable to any recovery company and able to be posted by people who do not necessarily understand what they say. This is proof of nothing of course, but it is worth noting as it does not suggest legitimacy either.

You can see the details of the Israeli registered company  here: https://en.checkid.co.il/company/MONEY+BACK+LTD-VBoEBdL-515711653 

And it has the following to say regarding operation within the UK: 

Moneyback Ltd (which trades as Payback) Israeli company #515711653, is authorized and regulated in Israel and operates globally. In the UK, the company operates through a legal exemption, which removes the need for Moneyback Ltd to be authorized and regulated by the FCA.

Interestingly enough, on the Payback-LTD.com site we can read the following:

Money Back Ltd operates under the trading name: Payback, has been in operation since August 2017, and is a law-abiding company which counsels & helps victims of fraud to recover their stolen funds.

Money Back Ltd (trading as Payback) (CRN: 515711653) is registered, based, and is operating in Israel and various other jurisdictions, worldwide.

So as you can see, both of these companies are the same Israeli registered entity that is not licensed or regulated within the UK and so is not bound by any UK laws. They may well be law-abiding in Israel, but would not be impeachable in any way as to refunding money for a service as they have no regulation whatsoever in the UK. What this means is that they are no way accountable for their actions by anyone within the UK and are therefore incapable of breaching any laws there, as they are not in the UK and not regulated to operate there.

They do mention each of the territories in which they do the most business in their terms and conditions:

4.1 In the United Kingdom jurisdiction, the company operates through a legal exemption, with the full knowledge and awareness of The Financial Conduct Authority (FCA), which removes the need for Money Back Ltd to be authorized and regulated by the FCA.

4.2 In the Canadian jurisdiction, the company operates with the full knowledge and awareness of The Ontario Securities Commission (OSC).

4.3 In the Australian jurisdiction, the company operates with the full knowledge and awareness of The Australian Financial Complaints Authority (AFCA).

4.4 In the United States jurisdiction, the company operates under the provisions of The Federal Trade Commission (FTC).

4.5 In the European jurisdiction, the company operates with the full knowledge and awareness of various large Financial Regulators and their associations (i.e.: The Financial Services and Markets Authority (FSMA), The Portuguese Securities Market Commission (CMVM).

But this does not actually explain that this company is not regulated by any of these authorities, and that non of these authorities have any jurisdiction to take any action against someone who is not in Europe, Australia, the US, Canada or the UK. Perhaps the FBI could take action, but we are not sure as to the legal implications of this as there is no clear boundary. The FBI tend to arrest people overseas in cooperation with the local governments and we seriously doubt that the Israeli government would take the time to make such an arrangement on such a paltry crime.

This company appears very similar in tactics and method as does actionrefund.com as they both associate themselves with US, AUS, UK and EU markets, even though they do not share a time zone, a language or a legal system with any of them. They also seem to have a very similar way of attracting customers through TrustPilot which is exactly what the boiler room scammers do in the first place.

We do not currently recommend any recovery companies even if you have tried everything else first with the Police and your bank as there is no reason that they will be able to succeed if you could not. They have no legal expertise, no legal authority and no technical or financial knowledge that we can see any evidence of. At best they are going to make an appeal to your bank for a chargeback and if they can do that from Israel, you can do it far more effectively from the home country of your bank.