Our banking Experience

We bring our expertise in complex payment disputes to the consumer’s side.

Below is a list of just some of the banks, credit unions, financial institutions, payment processors, and credit card and debit card networks that The Scams Update Group has dealt with in order to raise disputes and obtain chargebacks for its clients.

The types of complex transaction disputes that lead consumers to Scams Update typically require the intervention of their own banks, a merchant’s bank, a credit card or debit card issuer, a payment processor, and/or a credit union or some other financial institution. In certain instances, a financial services ombudsman, regulator, law enforcement authorities, or even a court must become involved as well.

What Is the Secret to Pursuing Your Case?

The successful resolution of card-not-present disputes requires experienced talent capable of multitasking on complex financial assignments. Contact has to be initiated and maintained with multiple actors. Different sets of documents may have to be submitted to all of them. Other documents that they generate may require responses. But the real challenge is that while none of these actors is familiar with the consumer’s case, all of them can play a critical part in the process of resolving it. The details of the transaction in question have to be explained to each party independently, as succinctly and articulately as possible. 

That, in turn, is complicated by the fact that what is of critical import for one party may not be for another. To obtain a Scams Update, for example, bank dispute departments will first want to be assured that the deadline for issuing one has not passed, and then whether or not the reason code cited by the cardholder is appropriate. This requires careful study and up-to-date knowledge of the chargeback guidelines published by the relevant credit card network, as well as local laws that would also be relevant to the case. Unfortunately, that does not always happen. Various staffers’ understanding of the chargeback guidelines may be out-of-date since they are updated regularly. Or it may simply be flawed. Some banks, overwhelmed by the tide of card-not-present disputes that resulted from the rise of e-commerce, especially during the COVID pandemic, have had to farm out responsibilities to temporary workers who are unfamiliar with the guidelines. Extraneous subjective criteria may influence their decisions. Nuances can lose a case. Winning it requires a fluency with the rules.

Bank Ombudsmen and Financial Regulators

The same is true if the bank’s decision has to be appealed to a bank ombudsman or financial regulator. They will want to investigate whether the bank followed proper procedure in reaching its decision. The appellant will have to prove that they did.

Cryptocurrency Investigations 

Needless to say, the police and court system, which are the ultimate addresses for pursuing a cryptocurrency dispute, will have to be convinced that a violation of law has been committed. Scams Update has the technology and proprietary databases to compile the evidence police need.

Scams Update will remain at your side throughout this complicated undertaking so that they can answer any questions that come up regarding your forensic report. We have amassed a wealth of knowledge and experience in engaging with over 800 banks, payment processors, credit card networks, ombudsmen, and financial regulators worldwide. Moreover, the investigative reports we prepare for our cryptocurrency clients have been presented to more than 450 law enforcement agencies around the globe. At Scams Update, we are proud to invest 100% of our effort in every case we handle.

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