The number of fraud cases in connection with online brokers and trading platforms continues to rise dramatically. Reports of fraudulent providers are increasing, particularly in the area of foreign exchange trading (Forex), cryptocurrencies and contracts for difference (CFDs). Attorney Eser, a specialist in banking and capital market law with 20 years of professional experience, warns against dubious platforms and shows ways in which affected investors can take action not only against the fraudsters, but also against the credit card companies involved.
“Many of these fraudulent online brokers use manipulative methods. They promise high profits, put pressure on you to make further investments and then break off contact as soon as the funds have been deposited,” says lawyer Eser. Since these fraud platforms are often based abroad, it is often difficult to directly reclaim the invested capital.
Liability of credit card companies
However, lawyer Eser points out that in many cases credit card companies can also be held liable. Many investors use their credit cards to make deposits with the supposed brokers. The law offers options for the credit card company to carry out chargebacks if there is evidence of fraud.
“A key argument here is that credit card companies have a certain responsibility to ensure that transactions on their platforms are carried out properly and legally,” explains Eser. “If a credit card payment is linked to fraud, the cardholder can, under certain circumstances, request a refund. Affected investors should therefore contact their credit card provider immediately after discovering the fraud and initiate a chargeback.”
In practice, however, it turns out that credit card companies do not always cooperate immediately. “It can therefore be useful to seek legal assistance in order to enforce the legal claim for a refund,” adds Eser.
Precautionary measures and legal action
Attorney Eser recommends that investors always find out as much as they can about the provider before investing. “Missing licenses, unclear information about the company’s headquarters and unrealistic promises of returns are clear warning signals.” If investors have nevertheless become victims of such fraud, it is crucial to act quickly.
In addition to civil claims against the broker and possible chargebacks via the credit card company, criminal proceedings should also be considered. “A criminal complaint can not only help to convict the perpetrators, but also prevent further cases of fraud,” emphasizes Eser.
Affected investors can contact Attorney Eser’s law firm directly to discuss an initial assessment of their case and possible legal action, including against credit card companies.
Experienced and successful legal representation
Attorney Eser, known for his extensive experience and numerous successes in representing consumers and investors, is happy to provide those affected with an initial consultation. Take the opportunity to find out about your legal options early on and to check the enforcement of your claims.
We now represent hundreds of affected investors and combine the interests of investors against credit card companies.
As a long-standing investor protection law firm (20 years)
We are happy to support you – no matter where you live! We can also provide all consultations by telephone. Take advantage of a free initial telephone consultation now, which you can also easily book online.
We also handle correspondence with existing legal protection insurance.
