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Tech support scammers and their banking woes

March 30, 2017 by William Tsing

 

                                             

 

We all know about tech support scams by this point. We know how they cold call, lie their way into your computer, and steal your money. Unfortunately for the scammers, banks know this as well, making it quite difficult at times to maintain an account to store the criminal’s ill-gotten gains. So how does the enterprising criminal cash out with your money? Let’s take a look.

 

High-risk payment processors

 

When a business owner is involved with a line of work that traditional payment processors don’t want to be involved with—typically pornography, pharma, and gambling—they use high-risk processors. In exchange for the perceived higher risk of processing payments in industries known for fraudulent activity, the processor takes a higher fee. The traditional tech support scam model used to rely heavily on these companies, typically through an Indian intermediary to offer an extra layer of anonymity.

 

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