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by Cthulhu_ 4155 days ago
But it won't help much, because they're all shell companies intended to be cheap to dispose of whenever the backlash strikes - and before that happens, they will already have whisked any proceeds away.
1 comments

payment processing companies should be partially (fully?) responsible for this kind of scams.

this seems to be reasonable force to make them find ways of filtering rouge clients.

some of payment processing companies will freeze incoming payments up to 6 months for high risk clients for example. that's a good start.

Payment processing companies (of the traditional variety; I'm not sure about the newbies like Stripe) also require a list of the company's principals with their social security numbers when you open a merchant account. The purpose of that is to add those individuals to TMF/MATCH if the account is closed for some kind of abuse, like excessive fraud. Other banks check those lists before opening a new payment processing account, which theoretically stops you from using shell companies to perpetuate credit card fraud after termination.
Unless he runs out of dog groomers to front his shell companies, I don't see it solving anything.

But I don't see why he can't be criminally prosecuted, at this point jailing him seems to be the only way to stop him.