The most common problem faced with merchant accounts in merchant account scams. Scams can be broadly classified as partial scams, full-scale scams as well as backdoor scams.

Partial scams refer to changed or improper information with regard to charges, features, fees, prices and overall description. The “hidden charges” scam is the most encountered partial-fraud scam. Here, some of the fees get concealed. The consumer is not given adequate information due to which he loses considerable amount of money. In addition to fees, additional rates and charges too get concealed. Additional charges are usually applied by financial institutions and banks that carry out the processing. During the processing, these charges remain concealed. These charges will come to light only when the bank prepares the bill that reaches the e-commerce merchant.

Some of the organisations that deal with the processing of credit cards so out clearly list out the full price. The list that has complete information should include bank charges, rates and fees. There should also be a link that will clearly show these charges. Usually, this will not be provided in the merchant account provider’s website.

However, lack of links does not necessarily imply presence scams. There are a number of providers that work with various banks, which makes it difficult for them to include such details. This is especially true with providers who handle offshore accounts. In such situations, it is not very easy to get the details of the bank. However, in a few cases, this will result in the closure of e-commerce businesses.

Though almost all the scams encountered these days fall under the partial scam category, this does not mean the full scale scams do not exist. The possibility of the existence or occurrence of a full scale scam cannot be eliminated. But, such scams are rarely seen. A few e-commerce merchants have faced full scale scams in the past. They are usually cheated as they are not provided with adequate information on the website. The forms that need to be filled are short and the bill they get will be shockingly high. The rates will be much higher than the normal rates.

The phone numbers specified on such websites are usually non-existing ones. If the number turns out to be correct, it remains unanswered. Hence, there will no means of getting in contact with the concerned persons.

However, back door scams cannot be carried out very easily. However, the occurrence of this type of merchant account scam cannot be eliminated. Back door scams are known to cause maximum damage when compared to partial scams and full scale scams. With back door scams, the program code is changed which gives and opportunity for making a hole in the system and can be accessed by third parties on the same gateway. High level skills are required to carry out back door scams. This is the main reason why this type of scam is difficult to carry out. By avoiding these incidents, information leaks can be avoided. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.