ASIC Flags Money Recovery Scam Using Fake Documents to Impersonate It

The Australian Securities and Investments Commission (ASIC) today issued a warning against the  operators of www.payback-recovery.com, who claim that they are a money recovery service helping victims of online fraud or scams get their money back.

The Australian watchdog noted that it has received reports from local consumers who have paid upfront fees but did not receive any refund or recovered money.

ASIC classifies that the website is misleading consumers by providing fake documents to consumers claiming to have an affiliation with ASIC; falsely claiming that ASIC approves www.payback-recovery.com's activities; suggesting they have the authority to act for ASIC as an Unclaimed Money Representative.

Besides, the website also provides unrealistic recovery rates, suggesting they recovered 95% of consumer losses.