 Merchant Accounts and Fraud
Fraud among merchant accounts is a rapidly growing problem throughout the United States and the World. Many companies are doing what they can to prevent fraudulent activity on your account. Be sure to check your statements every month to ensure that you will catch any and hopefully every error in a timely fashion, this applies if you are a consumer or merchant.
Although, it is not only individuals working for a company that will launder your hard earned money, but there are actually companies that do this intentionally to people like us. Frequently these companies will say they provide a service and throw you the bate. They prey upon you taking the bait. If you actually do take the bait they then usually send you a contract and terms of service agreement. If you sign one of these online be sure to read it first and thoroughly. The main way these companies get you and take you for what they can is, first you agree verbally to a specific contract and sign a totally different one. They have high hopes that you will not actually read the one in print.
There are a few steps you can take to protect you, your money, credit rating, and possibly even your financial future. The first and most important step is never give any of your personal information to anyone over the phone, check your monthly statements to ensure accuracy, and report any suspicious account activity and/or incorrect charges immediately. If you decide to do any business with any company that you will be required to give personal information to I urge you to not only be positive they are actually a legit company through the Better Business Bureau, but I also suggest that you check to see if they have had any complaints filed against them. |