Recently we've had a few more people ask about the specifics of our fraud measures. In response, I figured I'd list our steps on suspicious accounts for all to see.
As of now we rely on random samplings and the policing of MerchantCircle from both ourselves and our community.
When sent inquires the following steps include:
1. A source verify on Name, Business Name, Phone, Email, Website, and Address. We make sure that these values check with the person claiming the company (ie. for a bank listing - is the phone number and address associated with an actual bank location?).
2. If the source verify turns out fuzzy or still leaves questions, we then proceed with a contact. We begin with an email for clarification and a request for confirmation. We specifically ask to speak with the owner to confirm the listing and in extreme cases will ask for identifiable proof of business (ie. name attached to business mailing or billing).
3. Overall, if the listing still seems incorrect, we do have the right to freeze or terminate the suspected account and will pursue this course for the better interest of our community.
I hope this better sheds some light into what we do.
Merchant safety is among our top priorities.