Is 'Refund Consulting' legal in the US and Europe?
I have been doing some research about Refund Consulting, but I've not been able to answer this question to my satisfaction.
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2Could you provide more details? What is Refund Consulting and why would it not be legal?– morsorCommented Nov 10, 2021 at 12:35
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1@morsor - I've explained what it is in my answer below.– ValorumCommented Nov 13, 2021 at 1:53
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1 Answer
Refund consulting (e.g. telling people that you can help them to locate lost or unclaimed money or property, in return for a fee or a percentage of the money claimed) is, as far as I'm aware, perfectly legal in both the US and Europe.
- There are multiple organisations doing it in the US; https://unclaimed.org/
- And in the UK; https://unclaimedassets.co.uk/, https://www.uar.co.uk/, etc
That being said, you'd need to be extremely careful about what you're saying to potential clients. In the UK, telling a customer that they're 'guaranteed' (or even 'likely') to receive a return as a result of their search would be highly deceptive and would fall into the general description of financial fraud.