the stripe email i received this morning:
Hello,
Your Stripe account for XXXXXXX has been found to be in violation of card network regulations due to illegal transactions. Despite our efforts to provide the card network with evidence to the counter, the decision may still be upheld, and your business may be subject to a fine of up to $425,000.
Why has this happened?
The card networks we work with have requirements that dictate which products and services can and cannot be processed on their networks, and any violation of these requirements can result in substantial fines. Examples of violations include selling copyrighted products without authorization or selling pharmaceuticals without proper verification.
When you set up your Stripe account, you agreed to the Stripe Services Agreement, which states that your business acknowledges that ‘Stripe may deduct, recoup or offset Fees and other amounts you owe under this agreement’.
The card network will confirm the fine amount at a later date, at which point we will debit it from your Stripe account. We have placed your account balance in reserve to cover the future debit. Once the fine amount has been debited, this reserve will be released.
In addition, per card network rules, you and your business have been added to a card network Terminated Merchant File.
— The Stripe team
i 've been using stripe for the past 3 years and was barly making $1K / mo sometimes way less, with different merchant account, why am i getting fined with $425,000? i've never had this amoutn of transaction in my life let along with stripe.
Anyone received this email before? what is the ideal move right now? will i be sued?
