1. In the event of a chargeback placed by you with your credit card company (done intentionally or by mistake) for any deposit made by you in your CFD Corporate (“The Company”), account we hold the right to block your account with the amount of $50 on receiving a chargeback notice by our merchant provider. The Company will then carry out a thorough investigation to determine the legitimacy of the chargeback. The blocked amount will only be released if the chargeback is found to be valid. In regard to the above-mentioned, you hereby authorize us to block and/or charge this amount to your credit card.
2. Any case of credit card fraud or other type of fraud will not be tolerated by The Company and will result in prosecution through criminal proceedings in your local jurisdiction, to the fullest extent of the law, on The Company’s behalf. Moreover, civil legal action will be undertaken by The Company for the purpose of seeking any financial loss suffered by The Company in relation to the fraud, including business, legal fees, research costs, waste of employee time, and revenue loss.
3. We implement rigorous risk detection measures to identify fraudulent transaction attempts. Once detected, fraudulent transactions, together with any active orders related to the fraudulent credit card used are immediately canceled. In addition, external, cross-industry resources, such as worldwide fraud blacklists, are employed to prevent potential fraudulent users from entering our online trading systems.
4. Unless making reasonable endeavours to work with The Company towards resolving any problem related to your trading account, The Company will consider your credit card chargeback to be fraudulent. All frivolous chargebacks are not only time-consuming, limiting our employees’ engagement in normal business, but also involve financial damage to The Company. Therefore:
a. When a suspicious activity related to one of your deposits in The Company’s account is identified, the deposit’s status will be changed to “customer review in progress” and a fraud inspection of your deposit will be carried out to minimize your risk exposure. During this time, access to your account will be blocked.
b. Normally, fraud examinations are completed within 4 to 6 hours. However, examination of deposits which involve a higher potential risk can take longer as The Company’s Compliance Department carries out even more thorough fraud inspections. Provided we determine that your deposit entails a high risk or is not in line with The Company’s Compliance and Risk Policies, The Company will immediately cancel your deposit and refund the same credit card used for making a deposit. Moreover, we hold the right, on our own judgment, to close any account that you may have with us and cancel any orders related to the fraudulent credit card and/or account immediately.
c. You confirm that, once you choose to engage in business activities with The Company and place a chargeback with your credit card provider, we will block the amount of $150 from your credit card. In the event that your chargeback request is found legitimate, we will unblock the aforementioned amount as soon as possible. However, in the event that your chargeback request is not found legitimate, you agree to the charging of the blocked amount of $150 from your credit card account, that will be used as “research and administrative processing fee” for The Company’s time for responding to the request. You hereby authorize us to charge the said amount to your credit card. In a case where the charge is denied, legal action will be taken to reclaim The Company’s time loss related to responding to your request and any other fees mentioned before. You agree to compensate The Company or any representative appointed by The Company for any legal expenses borne by any or all parties.
d. Furthermore, we will use a third-party collection agency to try to regain charges that are in doubt for reasons of fraud and any additional costs and we will inform all credit bureaus that your account is a delinquent collection account. At this time, no debt settlement will be accepted by The Company, but only payment in full. Moreover, a fraud report will be filed to your local police station and all fraudulent activities will be prosecuted through your local jurisdiction to the fullest extent of the law. In addition, we hold the right to take any action we view as appropriate, including, but not limited to, completely preventing access to our Online Trading Services, blocking and/or rescinding your Access Codes and/or closing your account. Further to this, we hold the right to take possession of any profits and/or revenues created by engaging in such forbidden trading activities and to report your breaching of this clause to any relevant third parties. All active orders related to the fraudulent credit card used and/or trading account will be revoked by us as well. At present, we’re developing and will proceed to develop tools required to detect credit or debit card fraud. The Company will resolve any disagreement resulting from the aforementioned fraudulent activity according to our own, absolute, judgment as we see fit to be the best for all concerned; this decision is not open to dispute and/or is obligatory for all parties; The Company will not enter into correspondence.
5. The Company views fraud in a grave light. IP strings on all deposits made in our accounts are logged – we will thoroughly push for criminal prosecution to the fullest extent of the law in your local jurisdiction for any orders returning as chargeback due to fraudulent activity.