Fraud Pays, Part 1

Every year credit card theft increases.  Every year online fraud increases as well.  If you sell any type of product online, chances are pretty high that there will be some sort of fraudulent activity that you are going to have to deal with.  So why does this keep increasing?  The answer is simple, fraud pays, and people know it. The problem is simple to figure out, people are not afraid anymore because they know the system cannot or will not handle it.

Last month a customer made a purchase on my site using a stolen credit card.  A couple of days later a real nice lady that owned the credit card called me and told me that someone stole her card.  I told her I would be happy to help her and give the police everything they needed to catch the guy.  I had the name, address, phone number and email address of the cheater.  An open and shut case, right?  Wrong, the authorities could do nothing, not because they lacked information, but because they are overloaded.  So I with my wild imagination came up with the perfect solution.

I will take the time to now warn you, this solution can be considered unethical, so if you get jammed up about that, you might want to go read some other article about something else.  My solution actually solves problems creates jobs and creates a better place to live.  You also might get a laugh out of it which is a bonus.

New Business Opportunities

The best idea of the year is called Product recovery.  Here is the theory behind it and an explanation of how it works.

Theory

Product Recovery is kind of a conglomeration of the Police, The Repo man, The Better Business Bureau and a Bounty hunter.  It also has a strong technical background (geeks) and a great accounting program.

Product Recovery might bend some rules and laws but they are highly effective in their techniques.  In some ways, not all but some, it resembles the old version of the Mafia.  I do not agree with the techniques that they employed, but you know that no one messed with them whatsoever.  For some reason everyone understands a crack in the teeth, it would seem to be the only real answer to this growing problem.  But that is not the theme, this is theory.  Here is how it works.

• Joe knucklehead uses stolen credit card on website
• Website owner ships product and afterwards finds out about the fraud, he calls Product Recovery.
• PR takes the facts and retrieves said product back from “alleged customer” using their own “collection technique”
• Website owner pays PR half the value of the item and gets his property back.

Related posts:

• Fraud Pays, Part 2
• Monster Online Business Model That Really Pays Off
• Why Do 95% of Network Marketers Fail?
• Ecommerce Shipping and Fulfillment, Part 1
• Creative Short Term Financing

Tagged as: b, business, Ecommerce, ecommerce fraud, entrepreneur, entrepreneurship, fraud, Home based Business, identity theft