Merchant Account Underwriting Tools

Has ANY ISO ever made ANY money processing time share resales????

I mean after chargebacks. …And without being collusive in their enterprise.  Which is another whole story, or course.

The defendants are Jess Kinmont, John P. Wenz, Jr., Pro Timeshare Resales of Flagler Beach LLC, Pro Timeshare Resales LLC, and J. William Enterprises LLC, doing business as Pro Timeshare Resales. They are charged with violating the FTC Act and the FTC’s Telemarketing Sales Rule, including calling numbers listed on the Do Not Call Registry.

https://www.ftc.gov/news-events/press-releases/2018/05/times-florida-operation-pitched-worthless-timeshare-resale-scheme

 

 

 

Business Coaching for Dummies

“As alleged in the FTC’s complaint, the defendants charge up to $13,995 – usually on consumers’ credit cards – for a purported business coaching program that provides information that is largely available for free on the Internet, and thousands of dollars more for other purported business development services. Rodabaugh and Larsen opened merchant accounts usedRead More

Some Scamster Should Have Patented this Thirty Years Ago

Arrrggg! How did I not think of this back when it was sort of unique. Actually I did. Here’s wording from the federal complaint, translated into plain (er) English: “There were various entities involved in the processing of credit card payments, including credit card issuers, credit card acquirers or processors, companies that operated credit cardRead More

BOYS WE GOTTA TALK MERCHANT ACCOUNTS!

                          We’re missing out on some big paydays! It’s as easy as One, Two, Three.         BASE 1        Key Principal(s): Allegedly Jimmie the Beak says, if not in so many words, to Richie da Witch, Jimmy Two Tone, PeteyRead More

CFPB Takes A Hit. Case Against Payment Processors Dismissed

As an expert witness on the side of these payment processors I was glad to see this two year old case dismissed by an irate judge. “The Court finds that the CFPB willfully violated the Court’s repeated instructions to identify for Defendants the factual bases for its claims.” Case 1:15-cv-00859-RWS  Document 436     Filed 08/25/17     PageRead More

FRAUDULENT ISO: AN UNDERWRITER’S NIGHTMARE

Especially when the ISO risk manager is collusive. According to the FTC, Electronic Payment Solutions of America,(EPS) a Phoenix based ISO for Merrick Bank, knowingly processed $6,000,000 in fraudulent transactions generated by a business opportunity telemarketing scam called Money Now Funding (MNF). MNF had itself been sued by the FTC in 2013 for a $7,000,000 businessRead More

ON THE HOOK

For $280 Million! Merchant processors should know what their vendors are doing on their behalf. “Sellers may be held responsible for illegal calls placed by third-parties that market goods and services on their behalf, especially where the seller has the right to control the third parties and the benefit of the calls flows primarily toRead More

Time for Some Answers

For Immediate Release Contact: Nancy Savage, nancy.savage@socxfbi.org May 11, 2017 Dismissal of FBI Director James Comey Washington, D.C. – The precipitous dismissal of FBI Director James Comey raises many questions and concerns for the FBI and for our country. The opinions of the membership of the Society of Former Special Agents of the FBI regardingRead More

BETTER CALL MOSHE

If you want the best deal on a merchant account. But you might want to read the fine print and scrutinize your monthly fees a bit closer than thousands of his merchants did. According to a Department of Justice press release yesterday Michael “Moshe” Mendlowitz and business partner Richard Hart were arrested after their indictment on chargesRead More

A DIRTY DEAL

In the “You couldn’t make this up” category I post this only because I was born there.  It has nothing to do with Merchant Fraud, so don’t read it if you’re not ready for some real dirt. Fayetteville, GA, like so many towns across the United States, was named for Marie-Joseph Paul Yves Roch Gilbert duRead More