Company Overview
Payback Ltd. is a company registered in Israel. However, the company’s website does not provide any information about its management team. Also, as there are registered in Israel, there is no Financial Regulation Committee or authorization body in Israel, so they don’t have any kind of licenses or regulations.Licenses and Warnings
The Financial Conduct Authority (FCA) and the Belgian Financial Services and Markets Authority (FSMA) issued warnings against PayBack Ltd in December 2019, stating that the company was not authorized to provide services in the UK and Belgium. However, the warnings have since been removed. We believe that PayBack Ltd/MoneyBack Ltd initiated legal proceedings to force the regulators to withdraw the warnings. The company argues that the fund recovery business does not require a special license. We are disappointed that PayBack Ltd appears to have won the case, as this means that the warnings are no longer available to the public. However, we believe that the warnings were valid and that PayBack Ltd is not a legitimate company. The fact that the warnings were issued in the first place suggests that the regulators had concerns about PayBack Ltd’s activities. The company’s decision to remove the warnings further raises suspicions. We urge investors to be wary of PayBack Ltd and MoneyBack Ltd. These companies are not authorized to provide services in the UK or Belgium, and there is a risk that they may be involved in fraudulent activities.
Pros and Cons
Pros:
- Professionally designed website.
- Lots of testimonials.
Cons:
- The broker is not licensed or regulated.
- There are a number of negative reviews about the broker online.
- The broker has been accused of being a scam.
How Does Payback Ltd. Reach To Their Prey?
Payback Ltd. reaches out to potential victims through a variety of channels, including:
- Online ads
- Social media
- Cold calls
The broker often promises high returns with little risk. However, these promises are often false.
Technical Details
As they are a scam recovery company, they use different technical processes to recover the money. But, they did not disclose the process or summary of it. It is not recommended to trust a company that does not show its process of work.
Also, they should show the tools or platforms they use for this work. Every other company shows these details to have a transparent situation.
Packages and Products They Offer
Payback Ltd. offers a variety of services, including:
- Crypto scam recovery
- Binary scam recovery
- Romance scams, etc.
But, all of these services are explained as like a blog on their website. There is no clear description of their services.
Withdrawal and Deposit Method
Payback Ltd. offers a variety of deposit methods, including:
- Credit cards
- Debit cards
- Bank transfers
- eWallets
What Do Their Previous Traders Say?
There are a number of negative reviews about Payback Ltd. online. Some people complained about its lengthy processes and others said about taking upfront money but no work done.
Summing Up- Why Should Not You Trust Payback Ltd.
There are a number of reasons why you should not trust Payback Ltd.:
- The broker is not licensed or regulated.
- There are a number of negative reviews about the broker online.
- The broker has been accused of being a scam.
If you are considering trading with Payback Ltd., I urge you to reconsider. There are many legitimate forex brokers out there that you can trust.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Payback Ltd. or any other scam broker, you may be able to get your money back. There are a number of organizations that can help you, including:
- The Financial Conduct Authority (FCA) in the UK
- The Securities and Exchange Commission (SEC) in the US
- The Australian Securities and Investments Commission (ASIC)
You can also contact us for a quick solution. We will evaluate your case submitted through our website form. Then we will provide you with a free consultation call to provide you with some recovery service recommendations and guidance to help you recover the lost fund.
File A Complaint Against Scam Broker's
Final Thoughts
Payback Ltd. is a scam broker. Do not trust them with your money. If you have lost money to Payback Ltd., we advise you to seek help from the authorities or us.
We hope this article was helpful. Please let us know if you have any other questions.
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2 Responses
Back to the original question; this payback ledgit or scam?
Good day,
I have been approached by a Company, Payback Ltd. Israel to refund me with an investment in arotrading brokers back in 2021.
However they want me to log into my banking account on the any desk system while they are on line.
Do you consider this as a possible scam and are they a genuine entity.