Credit card processing fraud has recently become a major concern for merchants.
Frontline Processing is aware of several nationwide scams targeting merchants’ payment processing services, including our valued Frontline Processing clients’ existing services. These scams are occurring through phone calls and in person by parties posing as the merchant’s current payment processor, or as a sales agent who promises to reduce or eliminate the merchant’s current rates.
One of the current scams is specifically targeting First Data merchants. SBGA Capital from Henderson, Nevada is currently offering “wholesale rates”, promising merchants substantial savings at an effective rate of 1.6% or less. Isaac Amifir is one name affiliated with this existing scam. Published information regarding SBGA’s scam can be found online, including this report:
“Rates are not what I was told. Machine lease was not was I was told and was actually 4 times what I was told. When I contacted him regarding the discrepancies, he said to wait a month to see the savings. After a month went by, I couldn’t even get him to respond to his email.”
In another phone scam reported to Frontline Processing by our clients, a caller posing as an account representative, calls to inform them they have been overcharged for PCI non-compliance, convincing them to change processors. Scams like this can detrimentally affect innocent victims, both personally and professionally.
If someone approaches you stating they are with your current processor, get their name, return phone # a supervisor’s name, and email address.
Call Frontline Processing to verify whether or not the call is legitimate. If the caller identifies him/herself as a representative of another company, a quick Google search of the company’s name and/or the caller’s name will often provide information pertaining to any scams affiliated with the call. Never, ever give your personal and/or business information to someone you don’t know. If in doubt, don’t hesitate to call Frontline Processing.