Attention: Another Regulatory Warning Against Israeli Fund Recovery Scheme Pay Back!

tamir
Wed, 26 Jun 2024 15:49:15 +0000
Black Compliance, Fund Recovery, Amir Geva, ChargeBack, Daniel Poleb, Money Back, Pay Back, Pay Back Agency, Payback, PayBack Agency

The Israeli fund recovery scheme, Pay Back, a/k/a Money Back, has been black-listed by FinTelegram following detailed investigations. Operating for years under various brands, domains, and websites, this scheme has been exploiting the vulnerabilities of scam victims under the guise of offering them a chance to recover their lost funds. The UK FCA issued an updated warning against the scheme, which acts as a clone of an FCA-regulated entity.

Dubious Operations and Misleading Claims

According to insiders and various reports received by FinTelegram, Pay Back, a/k/a Money Back, a/k/a Payback Agency, has been purchasing lists containing the contact details of scam victims. Utilizing this data, they actively target these individuals, promising them the recovery of their losses for a fee paid upfront. This strategy not only capitalizes on the desperation of fraud victims but also raises serious ethical and legal concerns.

The companies, both listed under the names Money Back Ltd and Pay Back Ltd, share the same operational address in Israel, blurring the lines between their identities and operational tactics. Furthermore, the PayBack Law website misleadingly lists an address in Florida, suggesting unauthorized activities within the U.S. market. The directors and beneficial owners of these entities are reported to be Amir Geva and Daniel Poleb.

Read more about the Pay Back Connections to Scamadvisor here.

Regulatory Warnings and Compliance Issues

Recent actions by regulatory bodies have further confirmed the dubious nature of this scheme. In May and June 2024, the UK’s Financial Conduct Authority (FCA) issued warnings against this fund recovery scheme, labeling it as a clone of the FCA-authorized Moneyback Limited. This cloning not only misleads victims about the legitimacy of the service but also involves significant legal infringements.

Given these factors, FinTelegram has placed the Pay Back/Money Back scheme on our Black Compliance list, categorizing it as a high-risk entity with which individuals and entities should avoid any business dealings. The repeated warnings from regulatory authorities like the FCA underscore the necessity of this classification and highlight the scheme’s potential threats to consumer safety.

Fund Recovery Scheme Key Data

Trading names

Pay Back Agency
PayBack Agency
PayBack Law
PayBack
Money Back
ChargeBack

Domains

http://paybackagency.eu
https://www.payback-ltd.com
https://payback-ltd.org
https://paybackltd-de.com
https://www.payback-law.com
https://www.paybackpals.com
https://www.claim-international.com
https://chargebacksecured.com
https://moneyback-team.eu
moneyback-team.org
moneyback-limited.org

Legal entities

Pay Back Ltd
Payback Ltd
Money Back LTD

Contact data

support@paybackagency.eu
support@moneyback-ltd.uk,
support@moneyback-ltd.cc,
support@moneyback-ltd.eu,
support@moneyback-ltd.net,
sam@moneyback-services.eu,
lev@moneyback-team.eu
IL +972-77-7408749
US +1-718-473-3943
US +1-7868711161
AU +61-283-185-343
SE +46-812-410-614
UK +44 7477 491147

Related individuals | Amir Geva, Daniel Poleb

Jurisdictions

Israel, United States
United Kingdom

Compliance rating | Black
Warning | FCA, FCA

Whistleblower Appeal:

Victims of scams often find themselves in dire psychological and financial straits, making them susceptible to such deceptive recovery promises. It is crucial to recognize that many fund recovery schemes, rather than providing a legitimate service, are either directly affiliated with scam operations or are run by individuals previously involved in scams.

If you have any information regarding the operations, tactics, or any other relevant data concerning the Pay Back a/k/a Money Back Group, please contact us through our dedicated whistleblower platform, Whistle42. Your insights are invaluable in helping us uncover and report on fraudulent schemes, protecting future potential victims from similar exploitation.