As you may or may not be aware there has been an on-going payment scam going on whereby people are being convinced that they can pay their bills using their social security number and a Federal Reserve Bank Routing number.
We saw a spike in this scam about a month ago and now it has come back with a vengeance over the last 3-7 days. Videos like this one are rounding the Internet and we expect to see a stronger spike soon.
In an attempt to fight this “Social Media Engineering”, as of August 2017, we have started blocking all payment attempts that use a Federal Reserve Routing Number. Additionally, they are given the below message after their payment attempt:
This Payment has been Declined:
Fraudulent Payment Attempt. Using bank accounts other than your own bank account is FRAUD and is considered a MISDEMEANOR CRIME.
This payment attempt has been recorded as Fraud.
We realize the message comes off very strong, which is very intentional. The message is factual and is meant to scare the consumer into telling their friends that this scam is illegal, which it is. This is our form of “Reverse Social Engineering” and we are hoping that the consumer spreads the word for us and this scam is squashed.
We ask that you support our approach while we fight this scam, which in turn should protect you from thousands of man-hours of busy work. Please spread the word about this scam within your organization and even on your website and social media. It is a country-wide epidemic at this point. Thus-far E-Complish is the only payment processor that we know of that has developed a ‘fight-back’ strategy instead of a passive, reactive strategy. We ask that you help support us in squashing this crime.
Read more about this approach on our Press Release