FTC charges payment company in $200M fraud
The U.S. Federal Trade Commission has filed charges against a payment processing
company, accusing it of attempting to debit consumers' bank accounts for up
to $200 million on behalf of dishonest merchants.
Those consumers either never received the goods or received worthless items,
said the FTC, which filed the complaint with seven other U.S. states. The payment
company allegedly violated both federal and state consumer fraud laws, telemarketing
rules and FTC regulations regarding the unfair processing of payments.
The payment processing company went by several names, which are listed in a
FTC news release.
The FTC alleges the company processed payments for fraudulent telemarketers
and Internet-based merchants that used deceptive sales scripts and methods.
About $69 million of the $200 million in transactions were either rejected
by consumers or returned because of lack of proper payment authorization, the
FTC said.
The FTC wants to refund consumers and force the company to forfeit money it
still holds from the fraud in addition to other civil penalties. The complaint
was filed in the U.S. District Court for the Eastern District of Pennsylvania.
The states that have joined the suit are Illinois, Iowa, Nevada, North Carolina,
North Dakota, Ohio and Vermont.
IDG News Service
Symantec Backup Exec 12 and Backup Exec System Recovery 8 deliver industry leading Windows data protection and system recovery. Download this whitepaper to find out the top reasons to upgrade and how to get continuous data protection and complete system recovery.
Data and system loss — from a hard drive failure, malicious attack, natural disaster, or simple human error — can happen anytime. Don’t leave your business vulnerable. Make sure you have a secure recovery strategy in place. Symantec's latest backup and system recovery technology can efficiently restore critical applications, individual emails and documents and even restore your entire system in minutes in the event of a loss.
Businesses face a growing challenge to ensure that the IT environment is properly protected. Backup Exec 12 integrates with other applications in the Symantec family of products, to complement your current data protection strategy, keep your data securely backed up and make it recoverable when you need it most.
Enterprise 2.0 Implementation
By Aaron C. Newman, Jeremy Thomas
Published by McGraw-Hill
Learn more!
Deploying Cisco Wide Area Application Services
By Zach Seils, Joel Christner
Published by Cisco Press
Learn more!
