Chase Bank Scams

Can I get my money back?

Chase Bank is a global firm with a current account banking app that operates in the UK and elsewhere. As they are regulated in the UK, if you have lost money to a Chase Bank scam and your account is in the UK, you may be able to get your money back from your bank.

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Refundee can help you to get your money back by representing you.

Many people ask Refundee whether they can recover their money from a Chase Bank scam. Often, customers of Chase Bank ask us whether they can get their money back when they have sent it through cryptocurrency for an investment, or for a task based job that turns out to be a scam.

These are common scams affecting its customers which Chase should be on the lookout for, and Refundee has helped get back millions of pounds for victims of this scam type. So the answer is yes, Refundee may be able to help!

What is a cryptocurrency investment scam?

The cryptocurrency scam we normally see works like this:

➊ They advertise and then speak to you

The fraudster presents a great cryptocurrency investment opportunity to you, either you see an advert endorsed by a celebrity or advertised on social media. They normally talk about their company, show you examples of past results and the trading software that looks legitimate

➋ They get you set up cryptocurrency wallets

When speaking to you, they convince you that in order to invest, you need to send money to an investment crypto ‘wallet’ they will help you get set up in your name. You maintain total control over your own cryptocurrency wallet so it appears secure, and the fraudster convinces you to send it to their own wallet to be invested. Normally they start with a small amount like £250.

➌ Remote access

Typically they try to take remote control of your laptop or phone to show you around or help you with the investment or sending money from the wallet, or setting up the wallet in the first place.

➍ You send money from your cryptocurrency wallet

Once you send the funds from your cryptocurrency wallet, you see the deposit and the trades in the fake trading software they have given you a login to. They show you good profits in the trading account, and encourage you to invest larger amounts. Before you know it, you have sent tens of thousands of pounds into their unregulated cryptocurrency trading account and have seen huge profits.

➎ Withdrawal fees

The platform is a convincing fake, and while it appears your cryptocurrency is performing very well, the whole thing is a scam. When you attempt to withdraw your winnings, you’re asked for a payment in order to release your money. This is just another way to elicit yet more money from you. They never allow you to withdraw from the platform as the winnings do not exist, the trading software is a fake and no real trades were ever made.

REFUNDEE RECOVERS FUNDS

Refundee can help to get your money back from an APP scam in 2023 whether that is a cryptocurrency scam or another type of scam. An APP scam is where you are tricked by a criminal into sending money from your account to an account controlled by a scammer. Common types of APP scams include:

Bank Transfer Scams and APP Fraud

  • Romance

    Fraudsters usually start fake relationships online

    Read More

  • Cryptocurrency

    Fake brokers or advisors pretend to be experts

    Read More

  • Safe account

    You think your bank is calling you with the right info

    Read More

  • Job/task

    Offered work from home jobs and tasks for money

    Read More

  • Purchase

    Paying for goods/services you never received

    Read More

There are many more, but these common frauds involve customers being persuaded to send money for reasons they think are legitimate, but are unfortunately not. APP scams have grown massively in size in recent years, with fraud losses in 2021 topping £583.2 million in the UK and almost 200,000 cases being recorded. We believe this is probably well below the true figure. Scammers unfortunately are professionals at manipulation and often have spent a long time practising their social engineering techniques. This is shown in the statistics, and it is Refundee’s view that firms hould be doing more to protect their customers.

Has Chase Bank signed the CRM code?

CHASE CRM CONFIRMATION

Chase Bank has not signed the Contingent Reimbursement Model Code, sometimes called the authorised push payment scam code. This means that Chase Bank has not signed up to the stronger protection for fraud victims that the contingent reimbursement model provides as other banks have.

The CRM Code says that firms should refund fraud victims, unless they provided a thorough and relevant warning which was ignored or if the customer did not have a reasonable basis for belief. Put simply, if the firm didn’t give a really good warning that was relevant to you, or if the scam was convincing, your bank should refund you.

Regardless of whether the contingent reimbursement model applies, Chase Bank should be protecting fraud victims by responding to fraud trends and taking steps to stop fraudulent payments. The area we have seen customers of Chase Bank contact us most often, has been where they have been tricked into sending large sums of money into cryptocurrency without being asked any questions by the bank.

What is the latest scam affecting Chase Bank customers in 2023?

CHASE SCAM UPDATE

Cryptocurrency Investment scams are the most common scam type in the UK. Often, victims may be tricked into sending funds to a cryptocurrency wallet in their own name and then to the scammer. Where that happens, we may still be able to help. Firms should have known about this type of scam for a long time, as it has been common for a number of years.

Transfers to cryptocurrency wallets and then to scammers are often investment scams. This is another type of APP fraud that usually involves a fake broker or trader who pretend to trade and show good results.

Scammers tricking victims into sending funds via cryptocurrency is one of the recent investment fraud trends in the UK, with Action Fraud regularly warning banks and others about the scam risks. Victims are tricked into sending the money into a cryptocurrency wallet, and then from there into a fake trading account that appears to be legitimate. Unfortunately, the training account is actually an investment scam.

Firms like Chase Bank should still be protecting customers when they make payments like this into cryptocurrency wallets, and so Refundee can still fight the case for you.

If you have lost money to APP fraud from your Chase account, Refundee could help you get your money back from your bank and you can fill in our fraud refund claim form for a free consultation. Our fee is 15% plus VAT on anything that we get back, and we don't charge anything if we are not successful. For larger cases, the fee is subject to a maximum of £10k plus VAT per case.

Remember you don’t need to use a company like Refundee, you could work your case yourself for free! If you’d like to get a refund yourself, you can do this by following our bank transfer refund guide.

Customers often ask if they can get money back if they paid by bank transfer, or if they can get it back if they pay by BACS. The answer is yes, victims of scams may be able to get their money when they paid by either of these methods.

Can you get money back from Chase Bank if scammed?

CHASE SCAM REFUND