Merchant Account Underwriting Tools

Fraudster to pay $2 Million…..should read


Thanks to the NJ AG and investigator Murat Botas, a complicated consumer fraud case has been concluded against Daryl T. Turner and his so called travel agencies. However, it is yet another signal to merchant underwriters, and credit card processors that consumer fraud means acquirer loss.
Per the New jersey Attorney General Office: “To assist in getting immediate relief to affected consumers, the Division of Consumer Affairs has identified the consumers who used credit cards to pay Turner and his companies for vacation packages, and will be contacting the credit card companies to inform them of the judgment to facilitate reimbursements through credit card charge-backs.”
If there are limited reserves and the ‘merchant” has no assets it is the processor who pays.

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