Intelligence Reports

Online shopping is increasing and more people are buying, selling and trading on the internet. Since the COVID-19 crisis began, global eCommerce jumped to $26 trillion according to UN Statistics. Along with the dramatic increase in online sales, there has been a marked rise in cyber fraud, such as crypto scams as well as chargeback claims and disputes initiated by a customer against a merchant. 

Whether it is the merchant, an issuing bank, or a regulator that is dealing with a complaint or a claim, the customer must provide evidence to back up their claim and demand a refund. Given the prevalence of chargeback fraud and the number of consumers abusing the chargeback process, banks, agencies, and particularly merchants are more skeptical of such claims than in the past. 

Therefore, anything that will help bolster a sincere chargeback request or refund claim from a customer can improve the chances of fa successful fund recovery. Intelligence reports are an essential tool for the retrieval of funds and ReportScamOnline are the right people to consult with and draft your intelligence report. 

ReportScamOnline is staffed with professionals who will work on your behalf to improve your chances of getting your money back. We have extensive experience with the chargeback process and can help you retrieve funds from all types of scams and to win disputes with merchants and brokers. 

What Are Intelligence Reports?

Intelligence reports take a claim or complaint and provide an in-depth picture of the full situation. They are based on information provided by the customer about their interaction with the merchant and go further by researching the merchant and any longstanding complaints or legal problems against them. The intelligence report gives full context to the initial complaint and can give the customer an advantage when they ask to retrieve their funds. 

Although intelligence reports are not always used in chargeback or wire recall, they can greatly improve the odds for a successful result. Like a good lawyer, an intelligence report will make your case and provide a detailed account of what happened from the customer’s point of view as well as documentation that will back up the customer’s claim. 

How Can Intelligence Reports Help with Fund Recovery? 

The chargeback process is like a court case, with the issuing bank acting as a judge that will decide between the two parties. Merchants obviously do not want chargebacks, since returning items will eat into their revenue. 

Many merchants are alarmed by the steep and sudden increase in chargeback claims and for good reason. Chargeback fraud, sometimes called “friendly fraud” has become more commonplace and merchants urge issuing banks to be more judicious about reversing charges on items just because a customer happens to have a complaint. Chargeback fraud is sometimes referred to as “the new shoplifting,” and issuing banks do not want to do anything to threaten their longstanding relationship with merchants any more than they want to lose customers, who have other payment options. 

The chargeback process was never exactly a slam dunk for the customer, but it is more challenging than in the past. Customers are called up to prove their claims with more in-depth information, and that is where intelligence reports come into play. Keep in mind that merchants can often afford expensive lawyers. Before a chargeback reaches litigation over the decision, having a powerful tool like an intelligence report can give the customer a positive result early in the process. 

Bank wire recalls can be more elusive and it is harder to interrupt the process of transferring money to a bank. Once the transaction has occurred, there is no way of reversing it, and the customer is often told they have to ask the merchant for a refund than approaching the bank. 

However, in cases where customers have some information that implicates the other party in fraud, the customer can ask a bank to freeze the funds while an investigation takes place to prevent the recipient from laundering the money.  Requesting a bank freeze someone else’s account can be a very tall order, and obviously, the customer will need evidence. 

An intelligence report drafted by a financial services company validates the customer’s claim and provides information about the merchant that may justify suspicion. Intelligence reports can also be brought to law enforcement, government agencies, and regulators to initiate a full investigation. 

Intelligence reports are also essential for suspected crypto scams. The blockchain records all transactions, but they are anonymous. In-depth information is needed to establish patterns in transactions so crypto scams can be unmasked. An agency with extensive experience tracking transactions on the blockchain is needed to draft crypto reports. 

What Is Required for an Intelligence Report?

When a customer consults with a financial service company, they need to provide documentation such as:

  • A summary of their interactions with the merchant
  • A copy of all communications
  • A photo or a screenshot of the product or an example of the service
  • Photo and text samples of guarantees and product descriptions from marketing or landing pages
  • Terms and conditions
  • Reviews of the merchant and any legal filings

The client can get started gathering most of these, but many of the items can be obtained through research conducted by the financial services company. An experienced company may have run across the merchant or broker previously and have information on file. 

How ReportScamOnline Can Help

You can increase your likelihood of winning a chargeback claim if you have sufficient evidence and the help of an excellent financial service that will assist with fund recovery. ReportScamOnline professionals will draft an intelligence report and guide you on preparing your case and will help you get your funds back. We have combined decades of experience dealing with hundreds of financial institutions. 

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