Quick Scam Alert

A couple months ago, ASIC was alerting consumers about scams to be aware of. Make sure to remain informed and stay safe everyone!

The website www.payback-recovery.com claims to help victims of online fraud recover their money, but ASIC (Australian Securities and Investments Commission) has received reports from Australian consumers who paid upfront fees and didn’t receive refunds or any recovered funds. The website is misleading consumers by falsely:

1. Presenting fake documents suggesting an affiliation with ASIC, which is untrue.
2. Claiming that ASIC approves their activities, which is also untrue.
3. Implying they have authority to act for ASIC as an Unclaimed Money Representative, while you can search for unclaimed money for free (ASIC doesn’t hold unclaimed money from fraud/scam losses).

Additionally, the website promotes unrealistic recovery rates, stating they’ve recovered 95% of consumer losses, making it likely that the website is operating as a scam.

Check out ASIC’s alert on this issue.