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Vineet S
Vineet S,
Category: Law
Satisfied Customers: 2627
Experience:  Freelance Solicitor at Self Employed
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I have been frauded by an online broker Grahamalpha, sent

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I have been frauded by an online broker Grahamalpha, sent them £21K for their trading they are now refusing to pay me deposit or anything after 6 months. Very serious refs to them on FSA IOSCO, My bank has conditions on fraud refunds but general and specific terms.
JA: Where is this? And just to clarify, when was the purchase made?
Customer: The online broker has a uk number but no address. Between june 2020 and nov 2020 with account details still on their website
JA: What steps have you taken so far?
Customer: I am refusing any phone calls and sending mail requests for withdraws. My bank has been informed and I have drafted a declaration of fraud and request for refund.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Generally as I authorized the payments Natwest are going to be a tough nut to crack especially as warning is given online about remote access software which what the fraud people used.

Welcome to Just Answer, I am a solicitor in England and Wales and I will be dealing with your case today.

Kindly note, I am not available for phone calls at the moment, however I can easily assist you via this online chat.

I will go through your question and will get back to you with my answer shortly.

Meanwhile, please ignore any phone call request pop-up, they get generated automatically without any input from the expert, so I have no control over these requests.

Hi there,

Sorry to hear about that.

Could you please confirm if that trading platform is regulated/authorised by FCA?

FCA has published a list of firms to avoid

You can check the list here-

https://www.fca.org.uk/scamsmart/warning-list/search?type=911&opp=801&com=556&pen=1

Customer: replied 4 days ago.
IT IS NOT REGULATED BUT EUROPEAN AND UK LEGISLATORS ALLOW UNREGULATED BROKERS TO OPERATE.

If they are not regulated by FCA , then it means you can not claim under the Financial ombudsman service and financial services compensation scheme.

Do they have any office in the UK?

Customer: replied 4 days ago.
well they have a uk number but I dont know where they operate from
Customer: replied 4 days ago.
possibly Amsterdam NL
Customer: replied 4 days ago.
I am acting to Natwest refund not FCA

Firstly , you need to make a formal complaint to the platform using their internal complaint procedure regarding the issue.

If they fail to give you any satisfactory answers and try to retain your funds , then you should make a formal complaint to the trading platform regarding it.

You should also report to to the Action Fraud UK , so that they can investigate the firm.

You can report this to the Action Fraud team using the below weblink-

https://www.actionfraud.police.uk/

I have serious doubts if your Bank will refund you this amount .

Customer: replied 4 days ago.
OK well the T&Cs do have a lot on this type of thing. But they failed to protect against remote access software called ANYDESK while protecting against TEAMVIEW. It means their promise of protection was deficient.
Customer: replied 4 days ago.
Other persons known to me have had a similar successful refund relating to the same fraud company

You can argue that it is an Authorised push payment (APP) fraud. It means the account holders tricked into making bank transfers.

Most banks have signed up for to the voluntary Authorised Push Payment Scam Code ,for protecting their customers from these scams.

Make a formal written complaint to the Bank .

Code says that Your bank should reimburse customers who might not have been able to protect themselves from a scam using these steps or customers considered vulnerable to begin with.

Please see the attached letter.

bd10599c-3173-4d73-8c84-e7445497ce60_letter-file-app-code-complaint-letter-template-481973.doc

You need to send it to your Bank, by putting in the details of your scam.

Customer: replied 4 days ago.
well thanks you are really helpfull now ofcoarse I am really poor how do i get this letter

Please see the attached template letter ,you would have to amend it according to put your details.

Vineet S and 2 other Law Specialists are ready to help you
Customer: replied 4 days ago.
well thats it you may have saved me a lot of trouble. Thanks again, good bye I sent a 10£ tip.
Customer: replied 4 days ago.
Naturally I cant continue any further payment as I am broke so please sign me off further payments. Thanks

You are welcome.

Thanks again .

I am a third party professional and have no control over the membership /payment issues.

Please contact Just Answer`s Customers team for it , by clicking the below weblink-

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