Who are Funds-Back.com?

Another recovery company - Funds-Back.com

Firstly take note that the name chosen for this company is pathetic. It sounds like a domain name that hadn't been taken and that they were in a hurry to get trading (possibly not for the first time.) Scammers continually run different websites all with the same group of scammers behind them. This means that once they begin to get bad reviews they can just shut up shop (that website) and carry on with another, sometimes without changing phone numbers.

Online reputation is not good for this site. At least two other reviews site this website as a scam but they are going, mostly on hunches as they do not appear to have much evidence. Yes, sure the copy is a bit rushed and unreliable, but then these people do speak Hebrew during the day and so may not have noticed. 

Their landing page is completely different to the main page which has a human chat on. Let's see what they can do:

 

Welcome to LiveChat
 
Suzie
Support Agent
Suzie 09:58
Hi, let us know if you have any questions.
Visitor 09:58
Are you a person?
Suzie 09:58
yes I am
 
What can I do for you?
Visitor 09:58
So how does the recovery work?
 
My bank already have told me nothing can be done
Suzie 09:59
Really depends on the case
Visitor 09:59
but how do you get the money back?
Suzie 10:00
going through banks and regulators in general
Visitor 10:00
but isnt that just getting the bank to pay?
Suzie 10:01
not really
 
It's more complicated then that
Visitor 10:02
but do the scammers actually get found?
Suzie 10:02
really really depends on the case..
 
who scammed you?
Visitor 10:02
hang on
Suzie 10:02
ok
Visitor 10:03
bitcoin circuit
Suzie 10:03
I see..
 
and how much money did you transfer to them?
Visitor 10:04
2.0 BTC
Suzie 10:04
when did it happen?
Visitor 10:04
2018
Suzie 10:04
sorry, crypto from 2018 is not really recoverable..
 
it's a 50/50 chance in your case
Visitor 10:05
So you have no ability to track them down?
Suzie 10:05
no, who ever says he can track them down is trying to scam you..
 
it's not really possible.
Visitor 10:06
OK
Read
 
So as you can see here, these companies have nothing to do with investigation or preventing this fraud happening again, they just help you persuade the bank that they are liable and make them pay, and then keep a percentage. They refuse to even admit it is possible to track these companies down.
 

Let's continue the investigation by checking the phone numbers on the web:

Well looking up the +442036080432 number online, we see that the first hit for this number is with scambroker.com under a company called Borman Corp:

BormanCorp is an unlicensed Crypto Forex CFD broker, which opened in July 2018, and is now closed.
BormanCorp is actually owned by: Board LTD, and located at: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH96960 Marshall Islands. Their phone number from the United Kingdom was: +442036080432. Customer support email address is: support@bormancorp.com, and the official website is: https://www.bormancorp.com.

This is confirming something we had hitherto only suspected - that many of these 'recovery' companies actually work alongside or actually are the scammer brokers, just after another cut. Let's see what Suzie makes of this:

Welcome to LiveChat
 
Suzie
Support Agent
 
 
Suzie 12:02
Hello. How may I help you?
Visitor 12:04
do you know of these people: https://scambroker.com/bormancorp/
Suzie 12:05
I could check our system
 
Did you transfer them money?
Visitor 12:05
They seem to have the same phone number as funds-back.com
Suzie 12:05
They don’t
Visitor 12:05
yes they do
Suzie 12:05
What’s their number?
Visitor 12:06
look on the link
Suzie 12:06
Scam broker is not a company
 
It’s a website that reviews companies
 
They don’t have a number they have “information on companies”
Visitor 12:07
BormanCorp is the company
Read
Suzie 12:08
I don’t see their number
Call it and see where you’re directed
 
OK so Suzie seems to think that none of this is true and maybe  she's right, after all, we do not know that the ScamBroker.com site isn't the fraudulent one. They do have a CFD trading warning at the bottom of their site, which means that they offer services that they know will take money from their clients. We will have a look at them later...
 
They have also had to add a note that they do not offer financial advice or provide financial services to UK citizens:

Welcome to LiveChat

 
 
Suzie
Support Agent
 
Suzie 13:14
Hi, let us know if you have any questions.
Visitor 13:18
Is that true, that you cannot help UK citizens?
Suzie 13:18
No
Visitor 13:18
it says it on the disclaimer on this page
Suzie 13:18
It says we dont provide products or financial services
 
Its saying that we are not a trading platform
Visitor 13:19
Disclaimer: 1. Due to UK regulations, Funds Back does not provide financial services or products to clients from the United Kingdom
Suzie 13:19
financial services or products
Visitor 13:20
Isn't recovery a financial service then?
Read
Suzie 13:20
No
Suzie 13:20
we dont give financial advise
 
"put money in stock A" is financial advice
"bitcoin is going to have a Bull run"
completely different
 
 
 
OK so we can see that they have been advised by the FCA to be very careful with what they write on their site and that they consider recovery not to be a financial service. It is possible that they were a broker historically, but we are yet to see proper evidence of this.
 
On LinkedIn we can see that someone has made a fake profile: https://www.linkedin.com/in/bormancorpbrianellis/ with the same phone number and various jokes about fraud. Whether this as an upset customer or a member of the competition we do not know.
 
Scams hunter report the same but then they appear to be connected with https://scamshunter.com/review/bormancorp/ to other recovery companies so you cannot trust their information either, but several other similar websites show that they have the same number.
 
All of these sites are suspicious so we will ignore these claims, any forex related review site that takes fees for linking to anyone should be ignored as they are just part of the same scammer network.
 
They do not have an entry on Google Maps: