Fake merchant processing companies often take advantage of businesses looking for payment solutions. These scammers want to exploit unsuspecting businesses, causing significant financial loss and major disruptions to their operations. Don't let them get away with it.
If you own a business and are worried you may have entered into business with a fake merchant processing company, or you are over your head trying to figure out how to pursue legal action against them, you need help. The merchant processing litigators at Sigal Law Group have helped businesses in every industry overcome these issues. Contact Sigal Law Group today for a free consultation.
What are Fake Merchant Processing Scams?
Fake merchant processing companies will present themselves as legitimate service providers to unsuspecting business owners. However, they are always working to deceive their “clients.”
While their scams can take various forms, they typically include offering deceptively low rates, imposing hidden fees, or having hackers compromise a business's payment gateway to access sensitive customer information, posing a severe threat to both the business and its customers.
Others may even create entirely fictitious companies to process the business's payments as the company Electronic Payment Systems did. In 2022, the Federal Trade Commission went after Electronic Payment Systems and its owners for opening merchant accounts for fake businesses, allowing scammers to launder millions of dollars.
How a Merchant Processing Litigator Can Help
The best way to protect your business from fake merchant processing companies and their schemes is to ensure the merchant processing company you are partnering with is PCI-certified. However, if you are already suffering from a relationship with a fake merchant processing company, you must pursue legal action. The competent and experienced merchant processing litigators at the Sigal Law Group understand how overwhelming these proceedings are. As such, they will work diligently to review your case, help you understand your options, and prepare an argument on your behalf that guarantees the best possible outcome for your case.
Protecting your business's future, including its credibility, is of utmost importance. You should not be punished because of another individual's criminal tactics. Contact Sigal Law Group today for a free consultation.
