Knowledgebase : Fraud - How do we manage it
Attempted Fraud and Ezi Debt Collection
Posted by David Theodorou on 15 March 2018 11:28 am

In the world of payments and transferring money, especially using Credit Cards, Ezi Debt Collection is just as susceptible to fraudulent transaction attempts as the next "Card Not Present" merchant.

Fortunately, we're lucky enough to have a bunch of tools at our disposal that can allows us to stop these transactions in their tracks, and ensure that money goes nowhere it shouldn't.

What are some examples of fraud that have been attempted on Ezi Debt Collection?

The example we've come across the most for Ezi Debt Collection would be a debtor and creditor acting as the same person, with stolen credit cards.

For example, the fraudster creates an account for a supplier, (sometimes, this is actually a real company which they've found on Google), lists a few large scale debts on the platform, begins the debt collection process, and then pays the debt immediately using stolen credit cards.

In most cases, this would be an extremely hard transaction to track, and could expose Ezi Debt Collection to money laundering utilising our platform.

Fortunately, our payments partner, Stripe, has a few tools at their disposal to detect this type of activity. This includes a global database of bank accounts, credit cards and email addresses that are all analyses for spending discrepancies. As a result, the money that is collected from the stolen card will never be processed through to the fraudster and be refunded back to the bank who has credited the money in the first place.

Ezi Debt Collection takes these matters seriously, and will provide electronic surveillance data of all perpetrators of fraud on our platform to the relevant authorities through the issuing banks.

If you think that you have been a victim of fraud through Ezi Debt Collection contact us at accounts@ezidebtcollection.com.au as soon as humanly possible. Although our systems so far had 100% success in combating the attempted fraudulent use of our system, the sooner your issue is reported the sooner we can assist you with recovering your funds.

As always, we're here to help and if you have any questions about fraud and Ezi Debt Collection, feel free to contact us on 1300 485 228.