This past year I had the good fortune to participate in a day of education related to credit card fraud: how it happens and how we can reduce it. I was delighted to see this article that shows one such credit card ring getting eliminated. One of the key points to this setup is to note the length of time and the depth of detail that has gone into this fraud ring. These people are methodical and patient in order to be able to get the millions that they manage to steal.
Overall, this law enforcement success is great news for everyone. However, it is also stories like this fraud ring (that looks legitimate) that make underwriters ever more diligent in their procedures. Do not be dissuaded from acquiring a merchant account due to the level of due diligence being required. This due diligence is a key indicator that your acquiring partners are avoiding the fraudulent merchants and as a result will be sustainable.
