Fraudulent Transactions By City And State

Jan 12, 2017

According to the analysis a Silicon Valley anti-fraud technology provider, US merchants who are concerned about card-not-present fraud should pay attention to orders with billing and shipping addresses in the Southeast and Mid-Atlantic states. The software company examined over 1.3 million transactions from August 2015 to August 2016 and provided analysis for cities and states.

The billing address on fraudulent orders was often found out to belong to an identity stolen from a fraud victim. The shipping address was found out to represent the location of the fraudster. Based on the information revealed, the company found the locations where most people were defrauded and from where most fraud comes.

Alaska holds the 1st place among the states with the highest percentage of credit card information used fraudulently. 23.4% of all transactions with an Alaska billing address are found out to be fraudulent. Delaware has 19.2% and is the 2nd place. New York has 15.2% and is in the 8th place.

By city, New York has the most billing addresses with regard to fraudulent orders. Bronx and Brooklyn, New York City boroughs, represent the 1st and 3rd places associated with billing address fraud. Florida is the 12th by state, Miami has 17.8%, Orlando – 12.6%, Jacksonville ─ 12.4%, and Tampa ─ 12.3%. All these make the top 10 list of cities that have the highest fraud rates associated with billing addresses.

With this in mind, it is critical to turn to a reputable payment processor like for safe and secure payment processing. EMB is the top high risk processor in the US and boasts an A+ rating with the Better Business Bureau (BBB). EMB is rated A by Card Payment Options and is one of Inc 500’s Fastest Growing Companies of 2016. EMB offers the best chargeback protection and prevention programs in the industry.

The software company notes the interesting thing is to see how fraudsters work. The company has seen networks of fraudsters gather in small areas. On the other hand, the company has seen single fraudsters target multiple sites using the same credit card information. So a small number of fraudsters could be associated with a large volume of fraudulent transactions. That’s why fraud can be successfully stopped thanks to data from a large and diverse network.

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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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