SINGAPORE, 7 October 2019: There’s has been a sudden proliferation of fake fund recovery firms that are scamming Thomas Cook clients who were hoping to obtain refunds, according to MyChargeBack, a global leader in resolving authorised online transaction disputes.
It warns in a statement released last Friday the company warned that “following the sudden collapse of Thomas Cook professional criminals who operate scams are on the lookout for periods of confusion and uncertainty, and the liquidation of a company as large as Thomas Cook meets that criteria.”
MyChargeBack COO Amir Cohen said: “A scammer’s motto is ‘never let a crisis go to waste.'”
Since the news of Thomas Cook’s demise became public, news outlets have highlighted reports that Thomas Cook clients received phone calls, emails and text messages from people claiming to represent companies offering free and easy refunds for cancelled Thomas Cook holiday packages.
The scammer claimed the customer needed only to provide their credit card information, including the security code, and the refund would be credited to them.
“This is precisely the information scammers need to steal the victim’s money and identity,” Cohen explained. Given that an estimated 600,000 people were affected by Thomas Cook’s collapse, the potential losses from these sorts of scams are beyond measure.”
In fact, Thomas Cook customers may be able to recover their money on their own. That is because they may have been covered by Britain’s Air Travel Organiser’s Licence (ATOL) financial protection scheme. ATOL protects most air package holidays sold by travel businesses that are based in the United Kingdom.
Given the confusion which expenses are covered by ATOL, however, the British government advises travellers to inquire with their credit card provider or travel agency to determine whether they are entitled to refunds.
Obtaining a Chargeback
“If they are not entitled to a refund, Thomas Cook customers who paid in advance by credit or debit card for cancelled flights or holidays may nonetheless be entitled to raise a dispute with their banks in order to receive a chargeback,” Cohen notes.
“But the chargeback process is notoriously bureaucratic, subjective and frustrating, and cardholders are allowed to challenge any specific charge only once,” he continues.
“That’s why consumers on every continent turn to MyChargeBack on a daily basis to ensure that their cases will be presented cogently to their banks in the professional language that bankers understand,” he concludes.
MyChargeBack.com is a global leader in fund recovery services, working with over 750 banks worldwide.
(Source: MyChargeBack)
