Swift Refunds Recovery Scam Alert

Cybertrace investigators are sounding the alarm over the Swift Refunds recovery scam. Operating from www.swift-refunds.org and swift-refunds.com, the fraudsters target previous scam victims in Australia and New Zealand who have already lost money. Offering false hope to victims of previous scams, these crooks simply double down and rip them off a second time. In addition, the scammers seem to operate a linked website from www.refund-justice.com where they perpetrate identical scams. Furthermore, their own supposedly authentic video testimonials actually refer to known fraudulent operator Claim Justice, which Cybertrace has previously exposed. All of this raises a lot of red flags to avoid these crooks and NOT pay them any money. If you have already done so, it’s not too late. Contact Cybertrace today to discuss how we can help. But first, let’s look at how the criminals operate and how you can protect yourself.

What are Recovery Scams?

According to the Australian Consumer & Competition Commission, recovery scammers are impacting more and more people with their awful tactics. Likewise, cyber fraud investigators such as Cybertrace have noticed a rise in clients who have fallen victim to these crooks. Heaping pain upon misery, recovery scammers prey on those who have already lost money to other crypto/romance/investment scams. Also known as secondary scams, recovery scams exploit these victims’ desperation to retrieve their money and rip them off again. Fraudsters such as the Swift Refunds recovery scam artists pretend to help previous scam victims only to doubly deceive them. Underlying this rising trend is a steep incline in scams overall, with 2022 Australian losses totaling a record $3.1 billion. The more losses to scams = the more potential for recovery scammers to double up. But how do they work?

How Does the Swift Refunds Recovery Scam Work?

Like other recovery rip-offs, the Swift Refunds recovery scam works as follows. First, the fraudsters target previous scam victims on social media and ads that funnel them to slick-looking websites. Next, they lure and hook targets with false promises of quick asset recoveries and guaranteed success. Finally, they pocket a huge upfront fee and offer nothing of value in return. In fact, some recovery scammers will make victims continue to pay for new “expenses”. Of course, there is no legitimate “expense”, “fee” or “recovery” – it is simply another scam on top of a scam! By the time victims realise that there’s no “recovery” and any “fees” paid were further rip-offs, it’s often too late. The nasty scammers are laughing all the way to the bank! But is there a way to spot what they are doing before they get you?

How do you know that Swift Refunds is a Recovery Scam?

Fortunately, there are several tell-tale signs to look out for to keep yourself and your family safe from recovery scammers. Start with these common red flags:

Unlicensed and Unregistered

The first question to ask anyone who claims to recover money for you is where they are licensed and registered. Serious cyber fraud investigators such as Cybertrace are transparent about their independently verifiable licensing and accreditation. Dodgy operators such as the Swift Refunds recovery scam artists will have no such registration or license. In fact, they don’t even appear on the Australian Securities and Investment Commission’s (ASIC) easily searchable business register. If the regulators don’t know who they are, it’s hard to hold them to account. For peace of mind, always choose licensed and registered businesses.

Nameless and Faceless

Additional clear warning signs for potential scams are a lack of real, independently verifiable names and faces on their website. When visiting the Swift Refunds recovery scam website, the lack of personnel information is glaring. Stunningly, we have no idea who founded, runs or works for the outfit. In addition, for a supposedly successful company there is a surprisingly complete lack of social media presence. If you don’t know who they are, don’t trust them! By contrast, serious cyber fraud investigators such as Cybertrace will have an independently verifiable trusted name and face.

Amateur Imitators

Another dirty trick in the Swift Refunds recovery scam artists’ arsenal is to hijack the name of a trusted company. In this case, the scam outfit’s name and URL are both very similar to a well-established UK tax return service. This has the effect of making the fraudsters seem more trusted and established than they really are. In short, the scammers try to give themselves a veneer of competence to cover their nasty deceit. After all, their core business is stealing your hard-earned money. Fight back by making sure you double-check the exact name and URL to see if they are trying to imitate another, similar site.

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Nonexistent or Fake Reviews

Genuinely independent reviews are a great way to gauge the quality of a product, service or business. Crucially, they provide clients or customers with personal experiences and perspectives and allow for a more well-informed decision. That’s if they are real, though. Unfortunately, the Swift Refunds recovery scam artists are trying to pull the wool over their targets’ eyes. Astonishingly, the three video testimonials on their website are identical to the ones found on the fraudulent Claim Justice website. In fact, they only reference the latter and don’t mention Swift Refunds at all! Furthermore, the Swift Refunds recovery scam website also alludes to positive Trustpilot reviews. On closer inspection, these all turn out to be about the aforementioned UK tax return service, however. Whichever way you dice it, the scammers are faking it all over the place.

Fake Everything

Not content with fake reviews, the Swift Refunds recovery scam artists also include fake phone numbers, success claims and English. Regarding the former, the numbers displayed on their websites either have too few digits or use non-existent area codes. How dumb do they think we are? As for their claims to a 99% success rate and having returned more than $1 million a month, serious and long-established cyber fraud investigation pioneers in Australia like Cybertrace know that’s simply unrealistic. Equally ridiculous is their claim that they don’t try to pursue scammers but simply return funds. Without knowing who the offender is, how do they propose to do that? Finally, the language on their website contains many obvious grammar, syntax and spelling mistakes. It looks like they are not even trying to hide the fact that they are fake through and through.

What can I do to Protect Myself From the Swift Refunds Recovery Scam?

While it’s good to know which red flags to avoid, who has the time to check every box every time? Isn’t there an easier way? Luckily, there is. As a free public service, Cybertrace has developed ScamID, an easy-to-use scam detector. Simply enter a website and immediately a simple traffic-light system will let you know how safe it is. It’s free, easy-to-use and immediate – what’s not to like! Avoid Swift Refunds recovery scam websites and other crooks before they get to you.

However, sometimes even the best detection tools won’t prevent all scammers from getting through to you. If that has happened to you, don’t despair. When you have lost money to a scam, it’s normal to feel upset, embarrassed and angry. When recovery fraudsters like the Swift Refunds recovery scam artists then get you a second time, it feels even worse. But don’t get mad, get even! Contact Cybertrace today to discuss how our experienced investigators can help identify who is responsible for scamming you.

If you are a current or former staff member of the syndicate and would like to speak with us, you can contact us anonymously via email. We have successfully worked with conscientious insiders when investigating previous scams, thus bringing justice and relief to long-suffering victims. Your help can make a real difference!