NEW YORK, Aug. 22, 2017 /PRNewswire/ -- Today, MyChargeBack.com, owned and operated by Cactil LLC, announced that their ChargeBack VIP program has successfully disputed more than $1 million USD in claims to-date. This program helps investors recover the money stolen by Binary Options, Forex and CFD trading websites who claim to act as "brokers", but in reality are just boiler rooms that are operating through fraudulent business practices.
MyChargeBack's key to success is its depth of knowledge of Visa and Mastercard dispute policies, rules and procedures. Using the chargeback dispute process, MyChargeBack provides an opportunity for victims of these "brokerages" to professionally dispute charges on their credit card accounts. By leveraging the consumer rights of these victimized individuals and by clarifying to the banks the fraudulent nature of the brokerages services, the transactions can in many instances be reversed. Once the banks agree that a true violation occurred at the expense of client, the funds would be returned to the client's account within a short period of time.
By further streamlining the chargeback process opposite the credit card issuing banks, MyChargeBack has also succeeded in accommodating a 50%‒70% month-to-month caseload growth rate over the first half of 2017.
While a client's bank may initially advise a client that dispute rights are available only within the first 120 days of the transaction, "in some situations, we have succeeded in initiating a chargeback up to a year-and-a-half [540 days] after the transaction occurred," explains chargeback expert Alan Tepfer.
"What is important to note, is that every client's case is unique, and our broad international experience within the industry and with Visa and Mastercard rules is a strategic advantage that we apply when building the strongest case possible for our clients, and has led to the success rate we are seeing."
Individuals who try to recover lost funds due to unethical business practices have gained a significant advantage by employing the team at MyChargeBack.com. Rapid processing and individual attention given to each case increases the fund recover success rate across the board, and in most cases to more than 70%. A team of experts reviews each case before the chargeback process begins and is involved in every step of the way throughout the entire process. The client is provided with both a personal report and review of the chargeback information. On average, the entire process should take between 2-4 months but will vary from bank to bank.