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POTENTIAL FRAUD ALERT

A local chamber of commerce in Ontario has sniffed out a scam that is currently going the rounds. An ISO is doing phone solicitation regarding merchant accounts saying that they have the support of the “XXX chamber of commerce” or “chamber group” and want to offer a better program etc. … and in so doing is asking for merchant information that in no way should be shared with third parties. An Oshawa Chamber member was contacted and was asked for member information (i.e. verification of address and contact). The person calling commented “we heard you were moving”. The member realized by the background noise and the fact the person could not pronounce Oshawa that it was a call centre. The member pressed for information on who was calling and the call was disconnected. It is good practice to remember that a business should not provide merchant information over the phone or submit any documents (merchant or bank statements) to an entity that is unknown to them.