Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • scotsmac
    • By scotsmac 8th Jan 18, 2:41 PM
    • 3Posts
    • 0Thanks
    scotsmac
    Fraud on my card. Olsson Capital
    • #1
    • 8th Jan 18, 2:41 PM
    Fraud on my card. Olsson Capital 8th Jan 18 at 2:41 PM
    I stupidly made an investment of £300 with Olsson Capital, to trade in bitcoin etc. Now when I made the the payment, my bank called and advised to be careful, stupidly I carried on and I authorized the £300 payment.
    Next morning when I switched on computer and checked things at Olson Capital, I noticed they have taken another, f £750 plus £1000.
    This has been taken with no input from me.
    I have now notified my bank and cancelled my card.
    Is their anything I can do to claim this money back ??
    I find it strange that when you authorize one payment, it then gives the company power to take what they want ?
    Also the company Olossen Capital, have sent me document to sign regarding my payment. My bank has advised me sign nothing. Is this correct.
    What can I do now ?
    In reality is their any chance I will get repaid ???
Page 1
    • zx81
    • By zx81 8th Jan 18, 2:49 PM
    • 14,944 Posts
    • 15,785 Thanks
    zx81
    • #2
    • 8th Jan 18, 2:49 PM
    • #2
    • 8th Jan 18, 2:49 PM
    It depends exactly what you signed up to.

    If the payments are unauthorised, then you will be refunded.

    What is this document you have been sent?
    • BargainGalore
    • By BargainGalore 8th Jan 18, 3:12 PM
    • 3,185 Posts
    • 2,767 Thanks
    BargainGalore
    • #3
    • 8th Jan 18, 3:12 PM
    • #3
    • 8th Jan 18, 3:12 PM
    This site says scam broker

    http://scambroker.com/olsson-capital/
    http://www.itisreviewed.com/olssoncapital-reviews/
    • MothballsWallet
    • By MothballsWallet 8th Jan 18, 6:10 PM
    • 11,841 Posts
    • 15,659 Thanks
    MothballsWallet
    • #4
    • 8th Jan 18, 6:10 PM
    • #4
    • 8th Jan 18, 6:10 PM
    My Google searching throws up a result that they're based in Bulgaria, another mentions Tallinn, Estonia.

    Most of the reviews I see in that search show up low star count reviews.
    I live in the UK City of Culture 2021

    Married to an immigrant.

    Always ask yourself one question: What would Gibbs do?
    • eskbanker
    • By eskbanker 8th Jan 18, 7:47 PM
    • 6,089 Posts
    • 6,117 Thanks
    eskbanker
    • #5
    • 8th Jan 18, 7:47 PM
    • #5
    • 8th Jan 18, 7:47 PM
    Olsson

    [...]

    Olson

    [...]

    Olossen
    Originally posted by scotsmac
    Out of the various spellings you've used, I rather suspect that the last one is the most appropriate....

    What are the terms and conditions governing your 'investment' and under which country's laws are they constituted?
    • scotsmac
    • By scotsmac 9th Jan 18, 9:48 AM
    • 3 Posts
    • 0 Thanks
    scotsmac
    • #6
    • 9th Jan 18, 9:48 AM
    • #6
    • 9th Jan 18, 9:48 AM
    It is Olsson Capital.
    I am trying get refund from my credit card, insurance. Master Card.
    As I said I stupidly authorized the first payment.
    I at first invested £300, for this I had to authorize my bank security to let the payment go through.
    It was what then happened, the next time I checked my site I noticed they had taken another £750, £1000, without any input from me.
    Can I get any help from insurance for this ?
    What can I now do ?
    • dj1471
    • By dj1471 9th Jan 18, 10:03 AM
    • 1,033 Posts
    • 710 Thanks
    dj1471
    • #7
    • 9th Jan 18, 10:03 AM
    • #7
    • 9th Jan 18, 10:03 AM
    What can I now do ?
    Originally posted by scotsmac
    You need to answer the questions asked in this thread. At the moment nobody know what you signed up to, which makes it impossible to tell if the additional payments were authorised or not.

    What I do know is that your card issuer will be far from sympathetic, having warned you not to proceed.
    • chattychappy
    • By chattychappy 9th Jan 18, 10:17 AM
    • 6,554 Posts
    • 3,479 Thanks
    chattychappy
    • #8
    • 9th Jan 18, 10:17 AM
    • #8
    • 9th Jan 18, 10:17 AM
    It comes down to:
    1) what you agreed to pay them (ie what is in any T+Cs you agreed to)
    2) what you authorised them to take

    In practice, they are likely to be the same, but might not be.

    You can dispute any amounts that were taken, but unauthorised. But if you contractually agreed to pay them those additional amounts then they could still pursue you for payment.

    Cancelling your card won't necessarily stop further amounts going through. But you are entitled to tell your CC to cancel any CPA in favour of this merchant. If you do so, then keep a record of the conversation or, better still, if you do it in writing (perhaps online) keep a printout.
    • scotsmac
    • By scotsmac 9th Jan 18, 2:04 PM
    • 3 Posts
    • 0 Thanks
    scotsmac
    • #9
    • 9th Jan 18, 2:04 PM
    • #9
    • 9th Jan 18, 2:04 PM
    I initially agreed to pay £300, my bank contacted me, and I agreed for this payment.
    Then the next day when I checked I saw another £750 and £1000, had been taken.
    I phoned master card security and told them I did not authorize these payments, and how can they just take amounts I did not ask for. I also cancelled card at this time.
    So basically my question, because I authorized the £300 payment , am I covered by any insurance for them then taking the further £1750, without any input from me.
    I have written them asking for refund, and told them cancel my account and no further trading. I get no response.
    I will now go police and report this, then go back my bank and fill in insurance claim. Is that good advice. ?
    • Candyapple
    • By Candyapple 9th Jan 18, 5:12 PM
    • 2,515 Posts
    • 1,879 Thanks
    Candyapple
    Out of interest, who is the card provider? I don't mean Mastercard, I mean the name of the bank who provided you with the card.

    What is this credit card 'insurance' you keep referring to? What does it cover you for?
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • chattychappy
    • By chattychappy 11th Jan 18, 1:00 AM
    • 6,554 Posts
    • 3,479 Thanks
    chattychappy
    Yes, what is this "insurance"? Are you thinking of S75 (which isn't insurance) or chargeback?

    As to the £750+£1000, this isn't an insurance issue. You simply tell your CC that they weren't authorised and they should credit back. Of course the merchant may then provide some kind of proof that you agreed to them - but deal with that if/when it happens.
    • boo_star
    • By boo_star 11th Jan 18, 1:52 AM
    • 1,357 Posts
    • 727 Thanks
    boo_star
    It sounds like you signed up for a CFD, which can often lead to you being in debt if the market turns.

    What exactly were you trading in?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,640Posts Today

8,991Users online

Martin's Twitter