Merchant Cash Advance Fraud

Last modified: August 31, 2011

Merchant Cash Advance Fraud
Posted on June 27, 2011 at 11:14 PM

At least two separate Merchant Cash Advance (MCA) financial service firms are the victims of business identity theft, insiders shared. In each case, the alleged scammers operating from outside the U.S. are misrepresenting themselves as being affiliated with specific U.S. MCA firms. This allows them to earn the trust of unsuspecting individuals.

The key difference is that the impostors claim to provide debt consolidation services and personal consumer loans with terms that are too good to be true. Neither product is typically offered by MCA firms. Individuals that fall for the scam are instructed that to receive the loan, they must wire their first few payments as collateral. The bank receiving the wire is reportedly to be located in Canada.

The business identity theft operation is believed to be the work of skilled con artists, not amateurs. If you believe you are the victim of financial fraud, please share your story with us at

- The Merchant Cash Advance Resource

Article by:
Sean Murray

Interested in assembling industry best practices and setting the stage for longevity? Join me at:

Category: merchant cash advance, MPR Authored

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Publisher: Merchant Processing Resource

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Previously in Merchant Cash Advance:

Aug 23, 2011
Sean Murray

Do I Need a New Terminal to get a Merchant Cash Advance?

Posted on December 19, 2010 at 6:50 PM This past July, 2010 the Payment Card Industry Security Standards Council phased out yet another batch of credit card terminals. This has made the last 6 months a tad bit challenging for resellers of the Merchant Cash Advance(MCA) financial product. Non-compliant machines have often times caused delays [...]

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