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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Refunds for victims of cryptocurrencies referral schemes

The Federal Trade Commission has announced it is sending PayPal payments totaling more than $470,000 to people who lost money to deceptive chain referral schemes involving cryptocurrencies. Promoters of Bitcoin Funding Team and My7Network falsely promised that participants could earn large amounts of money by paying cryptocurrency such as Bitcoin or Litecoin to enroll in the schemes. However, Bitcoin Funding Team and My7Network were chain referral schemes that depended on the recruitment of new people to make money. In fact, most participants failed to recoup their initial investments. The FTC will send 7,964 refunds through PayPal beginning on November 5, 2020. The average refund is approximately $59. Recipients who receive a refund via PayPal will have 30 days to accept the payment.

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