Reading Time: 5 minutes Chargeback Companies

Cncintel Review – Another Recovery Scam

Jan 28, 2021
Cncintel Scam Review

It’s a tempting offer. You hear from a company such as Cncintel who claims to be able to help you recover money you lost from a previous investment. The information sounds credible and the organization sounds legitimate.

Documents you receive also look authentic, and the money is not only welcome, but seems well-deserved compensation for previous losses.

The first red flag? Cncintel wants you to pay a huge upfront fee for the recovery “services,” which is purely fraudulent. In addition to the original money you lost. Now you can lose more money and time. Because unfortunately, you’re at the hands of professional con artists. And it’s not just the upfront fee.

Regulators around the world are issuing alerts to warn investors. Particularly investors who live outside the United states, that offers to recover money lost from securities investments may be fraudulent.

Both FINRA and the SEC routinely receive questions and concerns about recovery offers in general. On this Cncintel review, I’ll provide tips on how to spot and avoid companies like fraudulent “recovery” scam methods.

But before continuing, we recommend that you read Super Crypto Capital, Buxberg and TriumphFX scam broker reviews.

Cncintel Review – International Targets

As recovery scams evolve dynamically. The investors who have contacted regulators from abroad report a similar series of tactics which are used by Cncintel:

  1. Cncintel requires urgent correspondence and endless calls. Where Cncintel falsely claims to cooperate closely with any government and much worse.
  2. In some cases, the correspondents and callers impersonate registered securities professionals and brokerage firms. However, In some instances, Cncintel falsely uses the name of a real person or firm. A registered firm with a regulatory entity—as they point their clients to research their names online in an attempt to bolster credibility and build trust. They believe scammed customers won’t make the effort to search anyways.
  3. Once Cncintel contacts scammed investors and one expresses interest. Afterwards, They sent a series of official-looking documents. These documents assure the investor that his money is waiting in a random account. As Cncintel recovers the stolen/lost funds for a fee. This random account is not real, as Cncintel cannot promise such a thing so fast. When a recovery service is authentic – this procedure may take months to resolve. Plus It is not always possible to recover the full stolen / lost amount.

Past Client of Cncintel Personal Experience

For the client’s privacy sake, we’ll not give he’s personal name. This international client of Cncintel received a series of emails and phone calls from its service agents. They claimed to be associated with a number of important-sounding institutions.

That includes “Beacon Hill Regulatory Trade Department” and the “Federal Financial Regulatory Group” (neither organization exists). The caller received a document describing a “regulatory guarantee,” purportedly signed by FCA’s CEO.

This form entitling him to funds associated with a previous petroleum private placement investment he had made. The FCA or other securities regulators will never send such documents.

Afterwards, Cncintel told him that they store his funds in a safe e-wallet. And that they will release the funds to him if he paid the amount stated on an official-looking invoice.

Finally, The fee would remove a “restricted title” on shares in his original private placement investment. You could avoid this misfortunate situation by simply ignoring Cncintel calls. Whenever you’ll pick up the phone and you start hearing the company’s sales pitch – hang up.

How To Avoid Recovery Scam?

Avoid Recovery Scam

Whenever you find yourself in contact with one of Cncintel or other recovery companies service agents offering to help recover lost capital. Feel free to use these tips to help you avoid suffering additional losses from this sort of scammers:

Use Extra Caution

Always watch out for a purported legal recovery firm reaching across the globe offering to recover funds on your behalf. Especially if the firm claims to be a regulatory organization, or a law firm.

Posing as a legitimate securities firm, regulator or government agency is a well-known tactic of fraudsters designed to achieve credibility. It is often a first step in a series of tactics that Cncintel use. Designed to culminate in the payment of money to these scammers.

Do the Research

You could conduct a small internet search of the organizations or individuals who contact you. Do so before you send any money to false recovery companies like Cncintel. You may turn up red flags, or find that consumer protection, regulatory or law enforcement organizations have identified your situation as a potential fraud.

Double-Check Your History

Take notice of a previous purchase of speculative securities that lost money. Or an earlier fraud, It makes you a more likely candidate for additional scams. That includes follow-on frauds. From many online reports on Cncintel reviews we can establish that it is common for this company to “go back to the well” and try to take more money from a previous forex, binary option or cfds victim.

They get these victims information on the “dark web”. In that evil platform many fraudulent companies and hackers sell their past victims’ details to other scammers, and recovery fraudsters such as Cncintel.

Know the Tricks Cncintel May Pull

The internet includes numerous “tricks of the trade,” including the influence tactics and persuasion techniques cons tend to use, along with ways to avoid becoming victimized.

For example, the FCA provides additional tips related to avoiding scams, including recovery scams. These tips are excellent if your in midst of an agreement with Cncintel.

Never Send Money by a Wire Transfer

Cncintel often pushes to have funds sent by wire transfer. When you wire money, it can travel across the globe, and you won’t get it back. You should emphasize that unless the person is well known to you (a relative, for instance) – don’t send money by wire transfer.

Remember to treat requests to do so cautiously. A company like Cncintel, won’t do a single thing after you pay the initial fee. In some cases, Cncintel requested extra fees. This act is considered highly fraudulent.

Conclusion – Learn About Legitimate Ways to Recover From Investment Losses

Trading online carries some degree of risk, including risk of loss, even of all their value, if market conditions sour. But if you believe you have been treated unfairly. The regulators and the courts have information to help you recover assets or receive compensation by yourself.

If you suspect fraud, you can file a complaint using the related regulator online Investor complaint centers. Regulators have call lines as well, as filing a complaint is something investors can do on their own.

Although, think twice before a company like Cncintel traps you to “assist” filling an investor complaint with any securities regulator for a fee or unrealistic results. And avoid their faulty services, you’ll thank us.

Is Cncintel a Legitimate Chargeback Company?

Cncintel seems to be a not legit recovery company that claims they can get the money back for their clients.

Where is Cncintel Company Based?

Cncintel is based in Washinton, DC.

When the Cncintel Was Registered?

The company claims to have over 40 years of experience, but it remains unsure when it was registered.