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WHY ARE OFFSHORE MERCHANT ACCOUNTS DISAPPROVED?

Let us start with a famous saying that goes, “a moon also has its darker side”. Likewise, every thing has both the advantage as well as the disadvantage.  In relation to the above phrases, there is high risk in holding a merchant account. The invention and the innovations of the technology in the electronic banking sector assemble to make an advantage to the banking systems but the fraudulent cases and scammers that have been found as an obstacle to the smooth running of the merchandise business shows its disadvantage.

A high risk is involved in the internet banking systems too. There are scammers who make people to fall into their lustrous traps. The scammers make a foul play with the existing bank accounts of the customers. A customer has to be very careful while choosing the right merchant from the list of merchants that are available on the internet. There are many unregistered companies who cheat people very easily. Various techniques are used by these scammers to make their account look very attractive so as to easily influence the choice of the customers. The frauds host their own websites. At first, they give lot of assurance to the customers that the products will be delivered as per their demand. A full payment has to be made as an advance at the time of order, before the delivery. But this will results in no delivery of the product and also the money is forfeited by the frauds. After the customer enters the security PIN code of the credit card or after the credit card information is provided, these cheaters access the customer’s bank accounts and withdraw all their balance money from the account or misuse the funds.

People are amazingly diverted towards various offers that the scammers places in order to attract more and more peoples. Most of the people are not at all aware about the theft and scams and they easy fall as a prey before the frauds and become their victims.

A Thailand resident was robbed of forty thousand dollars by the scammers while using the online market to make purchases. The scammers could not be traced after the robbery. After the faulty dealings and transaction, these crooks or scammers change their bank account and residential addresses and their phone numbers too. They are hard to locate because migrate from one place to another once the robbery is done. The frauds and the hackers use the names of reputed as well as of recognised merchandise businesses and companies to cheat the people.

The customers blindly choose the merchant’s product because of their name or brand and later end up being one of the victims. The merchants have failed to live up to their expectations of improving their business because of the internet crooks and hackers. In fact, the scammers are the main hindrances to the smooth functioning of the merchandise business.

When a customer comes into sight, the fraud communicates with them in a promising way. They have a lot of knowledge about all the sites that provide internet banking system, credit/debit card processing, etc. These ideas are used by the scammers to cheat the people in a big way. Some people falls into the traps very easily as they may not have used the online marketing system before. But the ones who have the knowledge about the internet are also duped. These are all the reasons why a merchant account is disapproved. 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.