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Payment Card Newsflash #019

Dear Credit Card Merchants:

The following Fraud Alert has been provided by Elavon’s Loss Prevention Department:

“Credit Back Scam:

Our investigations have indicated fraudsters are targeting educational and non-profit merchants. The scam normally involves the merchant receiving a donation via email on a card issued in the United States. The merchant will then receive a second email requesting either the full or partial amount of the donation be refunded to a different card issued on a bank located in Nigeria. This scam is trending towards Atlanta area addresses being used on the original sales and currently reflects amounts in the range of $9,900. Please be aware of this potentially fraudulent activity within your merchant account. The best business practice to follow is to call Voice Authorization and request Code 10 verification on any suspicious donation transmitted over the internet or per an email request.”

Published: November 5th, 2014

Category: Payment Card Newsflash