Do you have any lawyers that deal with recovering funds from investment scams? New Zealand. I dont have a lawyer sorry,

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Customer: do you have any lawyers that deal with recovering funds from investment scams?
JA: What state are the lawyers in? It matters because laws vary by location.
Customer: New Zealand
JA: What steps have the lawyers taken so far?
Customer: I dont have a lawyer sorry, i thought this was a nz website, I guess not
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I've been advised that I might have the chance of appealing to my bank for a chargeback if I have a good lawyer
Answered by Chris The Lawyer in 24 mins 12 months ago
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Chris The Lawyer
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Chris The Lawyer, Expert

Hi My name is ***** ***** I am a New Zealand lawyer based in Wellington with more than 42 years of experience. I am here to help with your questions.

Customer
hi Chris :)
Customer
sorry, I'm just on a Zoom call, be there in 10min
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Chris The Lawyer, Expert

That will be a distressing situation for you. It is correct that sometimes where the bank should have noticed the funds were being sent overseas, and warned you

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Chris The Lawyer, Expert

From the Banking Ombudsman Site-

Banks under no general obligation to monitor customer’s accounts

Categories:

Common scams targeting bank customers

Summary:

Antoinette was the victim to an online investment scam. She sent $150,000, all of her savings, overseas via a New Zealand remittance company. As soon as she discovered the scam, she contacted the bank to try to retrieve the funds, but was unsuccessful. Antoinette complained that the bank should have identified that she was sending funds to a scam. The bank explained that it did not have an obligation to do this but offered her $1,000 in recognition of the fact she had been the genuine victim of a scam and had lost all of her savings. She did not accept the bank’s offer and asked us to investigate. The bank agreed to keep its offer available to Antoinette.

Published:

November 2021

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Chris The Lawyer, Expert

Another case

Bank acted on customer’s instructions to forward money to scammer

Categories:

Common scams targeting bank customers

Summary:

Harriet was the victim of a Facebook lottery scam, in which she was led to believe that she had won $700,000. She just needed to make a payment of $50,000 and $20,0000 (to cover tax and administration costs) to have the winnings released to her. Using internet banking, she sent the two payments to accounts to accounts in the United States and Australia. About two weeks later, she discovered she had been duped and contacted the bank. It made attempts to recover the money but was unsuccessful. Harriet complained that the bank should not have allowed her to send the funds. The bank disagreed, and she asked us to investigate.

Published:

November 2021

Customer
Ok, I'm here
Customer
sorry about that
Customer
If you like, I can explain my situation in more detail?
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Chris The Lawyer, Expert

I posted the case notes which will give you some idea of how the banks approach this. You can explain your situation

Customer
it sounds like it could be hard to win against the banks
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Chris The Lawyer, Expert

The issue is whether the bank should have stopped you or whether this was your choice to send the money

Customer
We got involved in an investment scam. The scammer convinced us to pay using cryptocurrency and at the time I was not aware that when you send this way, it is basically irretrievable. We made 3-4 sizeable deposits by sending money from our bank to a crypto wallet, and from there to the scammer. Neither the bank nor easycrypto batted an eyelid about this abnormal activity. Of course, it was completely our mistake to get sucked in by the scammer so I'm not sure if we have a case or not.
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Chris The Lawyer, Expert

It is worth raising this with your bank, but it isnt easy to persuade the bank they were careless in letting this be sent

Customer
I can imagine so, I could never stand a chance by myself
Customer
im just not sure how much a lawyer could help
Customer
have you had much experience yourself with this kind of case?
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Chris The Lawyer, Expert

I have advised many on this site, but usually to explain that unfortunately they have lost their money. You can ask the bank, then if they refuse, ask their internal disputes team. If that does not work you should try the Banking Ombudsman. You may not need a lawyer for those steps but I could help if you want

Customer
have you ever helped someone successfully get their money back?
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Chris The Lawyer, Expert

I have advised a number of clients on the process, but none have recovered money from the bank through a court proceeding. Some have recovered money with the bank has taken inadequate steps

Customer
ok, good to know
Customer
thanks for the information :)
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Chris The Lawyer, Expert

I am sorry I cannot give you much hope

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