The MyChargeBack Podcast: Recent Episodes
MyChargeBack. We bring our expertise in complex payment disputes to the consumer's side.
MyChargeBack is an international financial services firm with offices on four continents. Founded in 2016, MyChargeBack quickly became the industry pacesetter in assisting consumers who seek to submit disputes with merchants and banks concerning complex card-not-present transactions. Since then, MyChargeBack has effectively worked with and built relationships with over 800 banks in more than 100 countries and has successfully recovered millions of dollars, euros and pounds for its clients. We are proud to have been the first firm of our kind to have been licensed as a claims management company by the respected British regulator, the Financial Conduct Authority (FCA). We are also an associate member of the American Bankers Association (ABA) and a member of Financial Services Complaints Ltd (FSCL) of New Zealand, approved by that country’s Minister of Consumer Affairs to operate as an external dispute resolution scheme in the financial services industry. Our international standing is one of the reasons why MyChargeBack is a sought after source of comment and analysis by news organizations around the world.
Half of all the people who have ever invested in cryptocurrency did so in 2021. Not surprisingly, an equal amount of the crypto fraud that has ever been perpetrated was generated in response. But the industrial architecture and regulatory environment that allowed cryptocurrency to thrive to such unprecedented heights also underwent rapid changes to meet this challenge.
There are three reasons for this:
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The adaptation of blockchain technology to catch up with the benefits of existing financial infrastructure.
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The enforcement of AML and KYC requirements by regulatory bodies around the globe.
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The international sanctions imposed on Russia, which required governments and regulatory authorities to exert even greater pressure on blockchain companies to ensure their compliance.
This MyChargeBack webinar explores these subjects in-depth and explains why the victims of cryptocurrency fraud are now in a better position than ever to succeed in their recovery efforts.
The webinar, hosted by Elijah Jackson, MyChargeBack Digital Marketing Manager, was held on Thursday, May 12, 2022.
Statistics show that most people who face complex transaction disputes with unregulated brokerages accept their loses and don’t seek professional assistance. There are many reasons why. Some assume there’s nothing that can be done. Others may actually believe the stories they were told that they lost all their deposits due to bad trades. And probably a lot of people are just too upset or embarrassed to seek out assistance. A MyChargeBack client offers his advice to those who are now in that position.
The work of processing a chargeback falls on banks. But why is dispute resolution a completely different experience for banks than it is for cardholders?
Of course, there is a major emotional difference between the cardholder who is requesting the chargeback and the bank that has to sit in judgment of the transaction. Typically, cardholders want to raise disputes because they believe they deserve them. Banks, however, must remain unemotional. They are obliged to analyze and respond to each and every request to raise a dispute in an impartial manner. Their decisions must be subject to the chargeback guidelines issued by each credit card network, not by the opinion of the cardholder nor that of the merchant.
In this podcast, Judith Dayan Persson, MyChargeBack's Vice President of European Operations and Business Development, explains why dispute resolution is a complex and intricate process that requires a careful understanding to keep losses at a minimum, while at the same time assisting the customer and identifying the various chargeback options that are available. It can turn out to be a balancing act.