MERCHANT ACCOUNT SCAMS
Scams are a common problem when dealing
with merchant accounts. The scams can be
Partial, Full-Scale or backdoor scams.
The term partial scam can mean improper
or changed information regarding fees,
prices, features, charges and the
overall description. The most commonly
encountered partial fraud is Hidden
charges scam. Here some of the fee is
concealed. The customer is not provided
adequate information which will result
in him losing money. Apart from fees,
extra charges and rates are also
concealed. Extra charges are applied by
the bank which carries out the process.
During all the processing these charges
will remain unknown. It will become
known only when the bill prepared by the
bank which conduct process is reached
the merchant of eCommerce.
Some organisations dealing with
processing of credit cards do not give
the list with full price. The
information that should be there in a
list containing full information are The
charges of the bank, fees and rates
besides the link to them. These are not
usually given on the website of a
provider of merchant account.
However lack of link does not imply a
scam always. Many providers work with
different banks so it will be difficult
for them to include all the details in
the list. This is very common when the
provider deals with offshore accounts.
In such cases it will not be difficult
for a person to get details of the bank.
In some cases this money can be very
much some times even results in the end
of e-commerce business.
Although most scams encountered nowadays
are partial scams it does not mean that
a full scale fraud is not at all
possible. It will always remain a
possibility. But it is rarely seen. Some
ecommerce merchants have become the
victims of such a fraud. They get
cheated by the prices which are very
cheap based on the information given to
them via the site. The membership form
by them will be shorter but after
filling the forms and the bill given to
them would be shockingly high. This will
be very high than the normal rate.
The phone numbers given on such sites
will be non-existing in most cases or
even if the number turns out to be right
they will not be answered. So there will
be no ways to contact the concerned
But it is the backdoor scam which is
difficult to carry out. Still the
possibility of these scams cannot be
avoided. It can cause the maximum damage
compared to the other two types of
scams. In a backdoor scam the code of
the program can be changed which
provides an opportunity for the creation
of a hole through which a third party
can connect later on when gateway is
being used. A lot of skills are required
to carry out such scams which is a
reason why these types of scams are
difficult to carry out. Leaking of
information should be avoided as it will
be useful in avoiding such incidents.
one of our helpful account
representatives to assist you in the
high risk merchant account or
offshore merchant account for a
high risk merchant.