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.
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.
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.