- Apr 6, 2013
- Reaction score
Fraudulent card testing is going to financially ruin me
Over this past weekend somebody used my business as a means to do credit card testing, meaning they put an insane amount of transactions (of which most failed) through our system in order to validate the authenticity of stolen credit cards.
Unfortunately we were using a service called Stripe Radar, which incurs a fee of 6p (gbp) per transaction to test it for fraud, and because we noticed the card testing too late, 2.2million payments were put through our system which at 6p per transaction equates to roughly £36k, not including fees for all the refunds we had to process. Our Stripe balance is currently sitting at -£40,402.79 and I have absolutely no idea what to do.
Has anybody got any experience in issues like these and the types of recourse I can take with this? There's absolutely no way we'll ever be able to pay back £40k, we're a tiny business.
Will I have to file bankruptcy for the business? How does that affect me personally?
I'm incredibly lost and could use any advice available.
Rant of a small business owner that has been fucked over by low lives.
TLDR : The poster’s (reddit) business was used as a means to verify which of a list of cards work and since each transaction is put through a filter that charges per look up, the OP is now on the verge of filing for bankruptcy.