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MyChargeBack Warns: Don't Be Scammed in the Wake of Thomas Cook's Collapse

NEW YORK, Oct. 4, 2019 /PRNewswire/ -- MyChargeBack, the global leader in resolving authorised online transaction disputes, has warned of the sudden proliferation in fake fund recovery firms that are seeking to scam consumers who seek assistance in obtaining refunds following the sudden collapse of Thomas Cook.

"The professional criminals who operate scams are always on the lookout for periods of confusion and uncertainty, and the liquidation of a company as large as Thomas Cook certainly meets that criteria," notes Amir Cohen, COO of MyChargeBack. "A scammer's motto is 'never let a crisis go to waste.'"

Since the news of Thomas Cook's demise became public, news outlets have highlighted reports that Britons have received phone calls, emails and text messages from people claiming to represent companies offering free and easy refunds for cancelled Thomas Cook holiday packages. The customer need only provide their credit card information, including the security code, and the refund will be credited to them. "This is precisely the information scammers need to steal the victim's money and identity," Cohen explains. "Given that an estimated 600,000 people were affected by Thomas Cook's collapse, the potential losses from these sorts of scams are beyond measure."

First, Check if You Have ATOL Protection

In fact, Thomas Cook customers may be able to recover their money on their own. That is because they may be covered by Britain's Air Travel Organiser's Licence (ATOL) financial protection scheme. ATOL protects most air package holidays sold by travel businesses that are based in the United Kingdom. 

Given the confusion which expenses are covered by ATOL, however, the British government advises travelers to inquire with their credit card provider or travel agency to determine whether they are entitled to refunds.  

Obtaining a Chargeback

"If they are not, Thomas Cook customers who paid in advance by credit or debit card for cancelled flights or holidays may nonetheless be entitled to raise a dispute with their banks in order to receive a chargeback," Cohen notes. "But the chargeback process is notoriously bureaucratic, subjective and frustrating, and cardholders are allowed to challenge any specific charge only once," he continues. "That's why consumers on every continent turn to MyChargeBack on a daily basis to ensure that their cases will be presented cogently to their banks in the professional language that bankers understand," he concludes. "MyChargeBack knows how to get it done right from the start." 

About MyChargeBack

MyChargeBack.com is a global leader in fund recovery services. Working with over 750 banks worldwide, it has retrieved well over $10 million for clients in more than 150 countries. These cases typically involve authorised card-not-present transactions for goods or services that were not delivered as contracted. Founded in 2016, MyChargeBack is owned and operated by Cactil LLC, a Delaware corporation.

Reuben Eliaz, Media Relations Manager
+1-888-350-8030, Extension 1602