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

Want to consult with a merchant cash advance savvy attorney? Check out my recommendations.

Category: merchant cash advance, MPR Authored

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Previously in Merchant Cash Advance:

Oct 15, 2012
Sean Murray

Is it Just us or are the Deals Getting BIGGER?

Two years ago, it was easy to say that the average Merchant Cash Advance (MCA) deal was about $20,000 to $25,000. The claim used to be, funding up to $250,000! And yet very few companies would actually go that high when it came down to it. But now? A million here, a million there… It’s [...]

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