Foreign Scammers Target Florida with Collections Scam

Oct 16, 2014
SCAMFlorida residents have been targeted by a collections scam that has been traced back to Thailand through emails. While scams via email are not new, there are still those who fall for them. The tactics include threats of arrest and the use of a law firm called “Morgan & Associates.” In one e-mail sent to a Miami-Dade resident, a person identifying himself as “Joseph Foster” states that $750 is due to be paid to “Cash Advance Inc.”  While the emails contain legal jargon and case numbers, there are numerous misspellings that do not catch the attention of the email recipient. Sadly, many are falling for this scam, and they are being bilked out of hundreds of dollars, as well as stealing their personal information to obtain credit cards in their name, eventually messing up someone’s credit.

While this is terrible for those who are victims, it brings upon a business opportunity for those interested in being their own boss. Credit repair agencies are much needed, thanks in part to these scams. Credit repair agencies help guide clients along the way to improving their credit. It is quick and easy to start-up, however one of the key things you need for a successful business is not always easy to find. You will need a credit repair merchant account. This will allow you to accept plastic card payments. Seems easy enough, right? Wrong. Credit repair merchant accounts have a higher risk of fraudulent activity, and therefore are not ideal candidates for a mainstream merchant account. This does mean that all is lost. In fact, there are merchant account providers who specialize in businesses that are considered to be high risk, such as credit repair businesses.

EMB, or eMerchantBroker.com, is one of the top-rated high risk merchant account providers in the USA. Our team has years of experience dealing with credit repair merchant accounts, so we know the ups and downs that your business can face. We offer top-notch security systems to help you detect is a reported fraudulent charge is indeed fraudulent, and our terminals are updated to accept the new PIN and chip cards.

For more on a collection agency merchant account, contact us today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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