Merchant Accounts and Fraud

alex · 02-25-2007

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.

Dev0115 · 02-25-2007

Great write up, it amazes me that companies try to scam people. You would think they have morals, and others making sure this doesn't happen. Just shows us that its not only the workers, but whole companies in some cases.

ahsan16 · 02-27-2007

Excellent writtings and if you try then you can get yourself hired for a good price. And for fraud merchants they scams many one and I have seen my friends scammed sometimes.

swapnil90 · 03-03-2007

Quote:

Originally Posted by alex

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.

hmm...many people of the company are working I agre...but do u know that 1/rd of them are corrupt too....no1 can b relied on these dayzzz

inworx · 03-11-2007

I wonder if there'd be anyone who owns a Credit Card and doesnt check the statement??

mercury2k5 · 03-13-2007

Great article friend..thanks for sharing this valuable information!!

sfod_d223 · 03-13-2007

Awesome article on insights to the scam world. Like the reference to the BBB.

dasha101 · 03-24-2007

This is a very nice write up about fraud on merchant accounts. Companies do make strategies for their account holders to get involved in a contract hoping they would not read the whole content of it. It is really recommended to read before signing a document right?

qaswer · 03-25-2007

Quote:

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.

Yes we shouldn't be ignorant in this way because your every dispute can be solved on monthly bases and if you have another account then you should use that until this dispute will be solved .

**onlineexperts** · 03-28-2007

That is one reason why you couldn't blame companies like paypal to always go for the side of online buyers rather that the merchants because most scams happen from the sellers side of the transaction.