- July 20, 2018
- Posted by: ipaytotal
- Category: Fraud Prevention, High Risk Merchant Accounts, Payment Gateway
An ATO (account takeover) can happen when a person by the use of unfair mean stances as a genuine customer, picks up control of your account and afterward makes unapproved transactions by utilizing the individual data of yours. ATO can occur with an automated script that enters the accreditations altogether or with a human writing them and getting to the account. The objective of ATO is to make a benefit utilizing the estimation of the account.
E-Commerce merchant account or online banking accounts are usually taken over as a result of phishing, spyware or malware scams by the fraudster by using the sensitive information. This is a form of internet crime or computer crime because the hacker uses sophisticated programs. The word Phishing means, in which the fraudster to trap the potential E-Commerce merchant account holder by sending emails, social media messages or text messages or making phone calls with persuasive messages in the desire for convincing somebody to visit the false site.
A phishing message might ask you to complete some of these types of following tasks:
- Visit a link.
- Download a file.
- Open an attachment.
Phishing scam directly asks you for the personal information related to your bank account credentials and they may ask you for that information:
- By email or another messaging system.
- Through a form.
- At a fraudulent phone number.
- At a phony physical address.
How to spot this type of Fraudster?
- The quality of spelling, grammar, graphic design or image is very poor. They may use so many errors or odd ‘spe11lings’ or ‘cApiTals’ in the email subject to fool your spam filter.
- Their emails begin with something like ‘To your valued customer’, or ‘Dear…..’ followed by your email address if they only know your email address, not your name.
- Any businesses and organization don’t use web-based addresses such as Gmail or Yahoo. The website or emails address by which you got the emails doesn’t look right; authentic website addresses are usually short then these websites and don’t use irrelevant words or phrases.
- Money’s been taken from your account, or there are withdrawals or purchases on your bank statement that you don’t recollect making.
How to protect yourself from this type of fraudster?
- Don’t trust or assume anyone who’s sent you an email or text message- use the applications to check the identity of the number by which you got a call and don’t believe who they say they are without any valid proof.
- Real banks never email you for passwords- or any sensitive information related to your e-commerce merchant account by clicking any link and visiting any website. If a phone call or voicemail, email or text message asking you to make a payment, log into an online account or offer you deal, be cautious. If you get a call from someone who claims that they are from there your bank and ask for any personal details don’t give away any details.
- Always make sure that your spam filter is on your emails. If you find any suspicious email, spam filter helps you to mark it as spam and delete it to keep out similar emails in future.
- If you have any doubts then check whether it is genuine or not by asking the company itself. If you are suspicious for any number or link then do not call or follow it; find the official website using a separate browser and search engine.
- Always try to use tools that track customer IP addresses and alert you for any fraudsters. Monitor your accounts and transactions for inconsistent billings and shipping information.
- Try to get tougher with a password so that the hacker cannot be able to crack the password by a sophisticated program that can run through all the permutations of a password. Call for at least an eight-character, an alphanumeric password that requires at least one capitalization and one special character.
- Make sure you’re running the latest and updated version of your operating system. Install and regularly update business-Grade anti-malware and anti-spyware software to prevent attacks that exploit outdated software easily.
Ransomware. ATO. Wannacry. Spear phishing. Those four terms should scare the life out of anyone with e-commerce merchant account.
If you are planning to launch an e-commerce business, you’ll need a merchant account in order to process credit card transactions through your website. Phishing is designed to fool the merchants into spending money on a nonexistence product.
Avoid this type of services :
Free Merchant Accounts: There is no such thing. I know a free merchant account looks tempting, but it is a ploy to list your financial information quickly by the fraudster. Through scam tactics they lure business owners to register for their service ( they usually show the fee refundable which is the startup fee) and then they simply take your money and run away.
Watch Out For Identity Theft: They won’t ask for money upfront, because they don’t want money what they want is personal information regarding the merchant’s account. If the person seems too anxious to get the information regarding your bank account, then understood that this is the red flag of a fraudster.
Normally the hackers offer credit card number to different scammers, who at that point open accounts with the online business merchant and utilize the stolen numbers to pay for buys made by hackers. People groups don’t have that much time to check their credit card proclamation completely and these sorts of online business fraud are difficult to identify because of that reason.
To secure your e-commerce merchant account from phishing attack then we are here to assist you 24 hours in a day and 7 weeks and also for the best e-commerce account solutions for high and low risk business, we are specialist in unique & high risk industries. With a 10 minute conversation, we can get started with the merchant account application process which is easy and affordable. 100% customer satisfaction is our commitment.
In case of any doubt, iPayTotal is here to help. You can visit our WEBSITE to connect with highly experienced and well-educated team, with more than a decade of experience in the industry. We provide advanced techniques to protect your business against credit card security threats. Our payment gateway includes real-time monitoring, proactive reporting, data analytics, breach alerts and machine learning. Our team is working 24/7 to neutralize risks while strengthening your defense against credit card fraud.