You may encounter thousands of financial companies online, but it’s hard to know which are legitimate and which are questionable. Before getting involved with any financial company, it’s important to know that they are backed by a reputable organization.
MyChargeback is a proud associate member of the American Bankers Association (ABA), whose website provides the following description:
Founded in 2016, MyChargeBack is an industry pacesetter in deploying state-of-the-art technology to conduct forensic blockchain investigation services that trace the path cryptocurrency takes from its point of origin to the exchange at which it was cashed out. Its CryptoTrace and Cyber Intelligence Reports about the recipients are relied upon by courts, as well as more than 450 law enforcement agencies and police cybercrime units around the world. MyChargeBack has also pioneered innovative solutions for consumers who seek to submit credit card and debit card disputes concerning complex card-not-present transactions, as well as bank wire recalls. It has effectively worked with and built relationships with over 800 banks in more than 100 countries and has successfully recovered millions of dollars in disputed claims.
What Is the American Bankers Association?
As with many other official organizations, the American Bankers Association was founded as a response to a crisis. During the financial Panic of 1873, a banker in St. Louis by the name of James Howenstein didn’t see a way that he could continue running his bank because of lack of funds caused by the financial downturn.
Undeterred, Lowenstein created an organization of bankers to share ideas and assist each other during the financial crisis in the late 19th century. When the economy improved, the ABA remained relevant and expanded its services to include oversight for consumers and developing banking education.
Currently, the American Bankers Association is headquartered in Washington D.C. Since its merger with America’s Community Bankers in 2007, the ABA is now the largest trade association in the financial sector and represents 95% of banking assets in the US.
The ABA’s Board of Directors is comprised of bankers from small and large institutions around the country. It also partners with the State Bankers Alliance. The activities of the ABA are currently comprised of education and outreach programs, advocacy for policy and reform, and maintenance of the ABA Nasdaq Index–a market-value weighted index comprised of community-based financial institutions.
What Is the Connection Between the ABA and MyChargeBack?
The ABA website focuses on outreach and public education to instill fiscal responsibility and financial safety. Some of these educational activities include warning the public about the many financial frauds, including broker and crypto scams on the web.
MyChargeBack, which was founded in 2016 and has a working relationship with over 800 banks, is the best defense for people who have lost money to crypto scams, forex frauds, and a wide range of financial crimes.
MyChargeBack’s expertise with dealing with banks and the crucial role it plays in confronting financial fraud is a key to chargeback and fund recovery success. On their own, scam victims may only be able to file a claim, but they are often at a loss as to how to follow through and actually retrieve their funds.
MyChargeBack experts understand that every bank is unique and has sufficient information and experience working with a variety of financial institutions. Our strategies are informed by extensive experience and we approach the chargeback process with the tools and methods that can effectively retrieve funds on behalf of clients.
How MyChargeBack’s Relationship with Banks Contributes to Fund Recovery Success
Regarding the fund recovery process, no two institutions are exactly alike. In addition, rules and regulations are constantly evolving, the culture of a bank or a financial institution can evolve with time.
MyChargeBack professionals have decades of combined fund recovery experience and have contacts at most of the major banks. We keep extensive case files that are instructive in approaching banks we have dealt with before.
In a climate of steadily increasing financial fraud, banks are becoming more cautious about granting chargebacks and bank wire recalls. Friendly fraud, which involves the customer as the scammer with bad-faith chargeback claims, is a growing problem. Banks and credit card companies are increasingly aware that they have to serve their merchants as well as consumers.
For instance, Visa and its issuing bank have recently updated rules to make it more challenging for customers to file fraud claims and examine the customer’s transaction history closely to determine whether the complaint is likely valid or not.
Banks and credit card companies are more careful than ever about examining fraud claims. When fraud victims go it alone, they often find that one error in filing the claim may render their complaint null and void. That’s why it’s best to work with MyChargeBack experts, who will advise you every step of the way in the fund recovery process.
MyChargeBack Is the Right Address for Successful Fund Recovery
If you have lost money to a cryptocurrency scam, seek fund recovery assistance right away. Consult with MyChargeBack experts and get started with your fund recovery claim. We have extensive knowledge and working relationships with regulators and more than 450 law enforcement agencies around the world, as well as solutions that can improve your prospects of getting your funds back