OSC warns against PayBack Limited

The financial regulator from Ontario believes that PayBack is a scam.

PayBack Limited (or MoneyBack Limited) is a company that offers recovery services. They say they can get you money back from unregulated brokers and other investment scams.

According to the Ontario Securities Commission PayBack is run by the same people as the scam broker Trans Atlantic Direct (TAD). PayBack is contacting victims of Trans Atlantic Direct and claiming they can recover their funds for a fee.

The OSC therefore thinks that PayBack and TAD can be a double dip scam.

For your trading use regulated brokers only.

2 thoughts on “OSC warns against PayBack Limited

  1. Payback Ltd is a SCAM! I found them after loosing $20,000 to a Forex Broker scam. I contacted them to try to get my money back. Someone called me very quickly and everything sounded great so I decided to move ahead with them. They asked for my payment information even though they hadn’t sent me the contract yet. They told me that it would be sent immediately after the phone call. So I paid them and waited for the contract. I didn’t get it, so I wrote them asking for them to send it again. Didn’t get it until the next day, which isn’t a big deal, but after reading it I found that the contract was totally stacked in their favor and didn’t protect me at all. I immediately emailed them saying that I couldn’t sign the contract and I wanted my money back. They said they would process the refund immediately, but they never did. I had multiple emails with them where they said that the refund was processed, but I still didn’t get my money back. Now I am working with my credit card company to get my money back. They won’t return my emails, they won’t return my calls. They were supposed to help me get my money back from a different company and now I am fighting with them to get my money back. Total scam. Avoid this company at all costs!!!

    1. I stand corrected. Payback Ltd isn’t a scam, or at least they didn’t scam me. They finally gave me my deposit back. It just took a really long time. But that doesn’t make them a scam. If I could delete my previous comment, I would.

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