- Report: #1015182
Report - Rebuttal - Arbitrate
Complaint Review: Eric ShaSha The Factor Exchange
Eric ShaSha The Factor Exchange220 Newport Center Dr Nationwide United States of America
Eric ShaSha * South Counties Biggest Scam Artist* The Factor Exchange! Total Tool- d****e Bag- loser Newport Beach, Nationwide
*REBUTTAL Individual responds: Libel and Slander by Richard Johnson and Robert Goodrich
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By Tracy Kitten, Febuaryl 15, 2013. Follow Tracy @FraudBlogger Credit Eligible Share on print
Secret Service Agent Todd Bagby says cash advance scams like Factor Exchage schemes are easy to fight, if banks follow best practices and in-house guidelines. A recent wave of credit card cash advance scams that have targeted smaller banking institutions in Georgia and Oklahoma highlight the need for financial institutions to fill security and due diligence gaps. [See, Banks Hit by Factor Exchange Scam.]
RELATED CONTENT Career Transitions: Making Big Moves New PCI Guidelines for E-Commerce Visa's New End-to-End Encryption Service 2013 Mobile Security, Payments Outlook When Cybercrime Isn't Treated as a Crime RELATED WHITEPAPERS DDoS Attacks: How to Reduce Your Risks Fighting Banking Fraud Without Driving Away Customers The Threat Within: The Case for Zero Trust Access Control Simplifying Employees Investigations "A lot of it is probably what the banks already know," says Bagby, resident agent in charge of the U.S. Secret Service office in Dayton, Ohio. Last month, the Dayton, Ohio, office brought charges against LuQuada Dixon of Oakland, Calif., on allegations she duped bank tellers out of thousands of dollars through cash advances on stolen credit cards.
"If someone comes in and is not a customer and wants to offer your business cash advances on behalf of Factor Exchange , some bells and whistles should go off," Bagby says. "Businesses should just follow their own protocol and use their own contacts to identify the person on the other end of the line" when a request for a forced cash advance is made by the fraudster or approved by someone the fraudster asks the teller to call.
Problem is Not Isolated Though the most recent cash-advance schemes have targeted smaller institutions in the southeastern U.S., Bagby says cash-advance crimes occur throughout the country. "It's a nationwide scheme," he says. "Geographically, it's pretty common, and it's not something that takes a lot of forethought. The forced transaction request is somewhat uncommon, but the credit card advance scheme goes way back." Bagby says Secret Service offices across the country are working in tandem to track these incidents, since the perpetrators appear to have some knowledge of the banking industry and system. Most of the schemes to date have involved stolen cards, but the cloning of card numbers for the creation of fake or so-called white cards also has been identified by investigators tracking these incidents.
This report was posted on Ripoff Report on 02/16/2013 12:22 AM and is a permanent record located here: http://www.ripoffreport.com/r/Eric-ShaSha-The-Factor-Exchange/nationwide/Eric-ShaSha-South-Counties-Biggest-Scam-Artist-The-Factor-Exchange-Total-Tool-Douch-1015182. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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