For UK scam victims: Section 75 of the UK Consumer Act 1974

Here’s something banks don’t tell victims when they request a chargeback or refund for card payments after realizing they’ve been scammed : if you transferred your funds via a credit card payment Section 75 of the UK Consumer Credit Act 1974 is applicable. Section 75 of the UK Consumer Credit Act 1974 creates joint liability between credit card providers and retailers for purchases between £100 and £30,000 and the goods dont get delivered resp. the services are not rendered as ordered. So the card companies are fully liable for refunding the amounts transferred to scammers like BARAK and LENHOFF.

Conditions to fall under Section 75 are:

Section 75 applies as long as the price of the goods/service is over £100 and does not exceed £30000, excluding fees like delivery charges, etc.
Section 75 applies when you have paid for the goods using your card directly to the (international) trader, creating a 3-party agreement between you, the trader and the credit card company.

So if you’ve bought cryptocurrency or transferred money to investment scam websites like OptionStarsGlobal, XTraderFX, SafeMarkets, Option888, ZoomTrader, or XMarkets, and made these payments by credit card, you may be eligible to claim a full refund of these transfers from the payment providers involved. Legally, your credit card provider must refund you, but they will hold the acquiring bank or merchant responsible for the fraud.

Statute of Limitation

According to the law, a claim can be filed within six years from the date of purchase. However, in cases involving scams like xtraderfx or OptionStarsGlobal, victims often realize they’ve been defrauded much later. Therefore, with GAL BARAK (beneficial owner of optionstarsglobal, xtraderfx, safemarkes and goldenmarkets) being found guilty for severe fraud on September 1, 2020 victims may be able to argue for an extension of the statute of limitations.

Do not trust your bank/credit card provider!

Banks routinely reject scammed victims’ claims for chargebacks and Section 75 refunds, often refusing to take responsibility. Don’t trust their initial response; they will do everything to deny liability. Stay persistent, hold them accountable, and keep pushing. Remember, Section 75 protections also apply to cryptocurrency purchases if the crypto was never delivered to your wallet.