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Need Money Scam: Bankcard Processing Agent

Be aware of this scam going around the internet!

The bankcard processing scam goes like this. A job seeker, after posting their resume and contact information online, will receive an official looking letter from a company offering them the position of a credit card processing agent.

The offer will include a base pay rate along with a commission for each transaction processed, generally around 5-8%. The letter will instruct the job applicant to fill out a application form which will be approved without any sort of background interview or phone call.

Once "hired" a followup email or letter will instruct the new "processing agent" to set up a personal bank account so they can accept transactions. They are told when money is transferred into their account, they are to take their percentage and then forward the remainder to another account by electronic funds transfer.

A few days later, the processing agent will be contacted by the bank who will inform them the original amount transferred into their account "bounced" from the originator. Thus, the processing agent is liable for the whole amount. At the same time, the company which hired the agent no longer responds to emails, letters or phone calls the money can not be traced.

One victim of this scam reported losing nearly $2000.00 (all while really out of work) which she had to pay back to the bank. As for the company which allegedly "hired" her, they were nowhere to be found as was neither the receiver of the electronic payment.

The old conventional wisdom always applies: "If it sounds too good to be true, it probably isn't".

If you receive any email offering a similar job, report it as spam and delete it.
If you receive a letter offering the same, then investigate and possibly report it to your local BBB or state attorney general.
If you receive an offer like this on one of the big job boards, report it immediately to the admins.
If you are considering this type of job, don't do it!

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