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Question about high risk offshore merchant processor?

Discussion in 'BlackHat Lounge' started by superaff1984, Sep 15, 2011.

  1. superaff1984

    superaff1984 Power Member

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    I have a question there is a company that is going to approve us for merchant processing. They are telling us they will setup an offshore corp for us and everything. However they sent me over an application that did not ask for social security number, banking statement, or anything.

    Somehow though they got connections with these banks that provide merchant processing in other countries. They are saying they have everything setup on their end. They just charge flat percentage fee and will deposit everything into our account once a week.

    I just found it odd because I never seen an application like this. Then a friend of mine told me that he never knew of a bank that did not want banking statements, social security number, and etc?
     
  2. zebrahat

    zebrahat Elite Member

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    You vet them to determine if they are for real or a scam, and in the end you either believe them or you don't. They're offshore, so they don't strictly fall under US disclosure requirements. Perhaps they've already obtained the clearances with participating banks through their own documents, and your account merely falls under their umbrella.
     
  3. Autumn

    Autumn Elite Member

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    I agree with zebrahat. The point of high risk is that it's high risk. Unless you are seriously iffy about them then try them for a week, if they rip you off then you move. Frequently with so called "high risk" merchants, they have a supposedly clean merchant account for an innocuous company with an unsuspecting bank, then they bundle up a whole bunch of people's high risk transactions through that same account until they get canned. Their clients are frequently scammers, card bangers etc who are probably hiding behind a shell company anyway, so they have little expectation of getting real info out of them.
     
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